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Fiji Exempts Climate, Disaster Risks Products From VAT

The Government of Fiji has granted value added tax (VAT) exemption to insurance firms for premiums on climate and disaster risk parametric insurance products for the people and corporate entities in the country. The fiscal initiative represents the first time any government in the country is making efforts to make disaster insurance more affordable for […]

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Biden Administration Proposes Tax Hikes For Businesses, Wealthy

The U.S. CongressPresident Democrats on Monday unveiled a sweeping proposal for tax hikes on big corporations and the wealthy to fund President Joe Biden’s $3.5 trillion rebuilding plan. The Democrats proposed 39.6% tax rate on individuals earning more than $400,000, or $450,000 for couples, and there would be a 3% tax on wealthier Americans with […]

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Bermuda Re/Insurers Paid $35bn To UK Policyholders In 5 Yrs

The Bermuda Monetary Authority (BMA) has completed its United Kingdom (UK) Data Claim Survey for this year, showing that from 2016 to 2020, Bermuda re/insurers paid out US$35.2 billion to UK policyholders and cedants for large catastrophes, property and casualty losses and life insurance claims. A news report by Reinsurance News indicated that compared to […]

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SEC Charges Media Firms With Illegal Stock, Digital Assets Offerings

The U.S. Securities and Exchange Commission on Monday charged three media outfits, namely the New York City-based GTV Media Group Inc., Saraca Media Group Inc., and Phoenix, Arizona-based Voice of Guo Media Inc., with conducting an illegal unregistered offering of GTV common stock. The commission also announced charges against GTV and Saraca for conducting an […]

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ECB To Slash COVID-19 Support, As Eurozone Economy Rebounds

The European Central Bank (ECB) on Thursday disclosed that it was slowing down some of its massive emergency pandemic support for the Eurozone economy as business activities and consumer spending in the 19 member-countries begin gradual rebound from the COVID-19-spurred recession. The bank stated that it could conduct its bond purchase stimulus at “a moderately […]

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Buhari Lauds Saudi Arabia On Past Oil Quota Concession To Nigeria

President Muhammadu Buhari on Tuesday expressed Nigeria’s appreciation to the Kingdom of Saudi Arabia for conceding oil production quota to Nigeria in the past. Buhari, gave the commendation when he hosted Saudi Arabian Minister of Foreign Affairs, Prince Faisal Bin Farhan Al-Saud, at the State House, Abuja. A statement issued by the President’s Media Adviser, […]

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Thailand Begins VAT Collection From Foreign Technology Firms

Thailand on Wednesday commenced value added tax (VAT) collection from foreign technology companies and expects to raise at least 5 billion baht ($154.70 million) in additional revenue yearly from the revenue source. Under the new fiscal regulations, foreign platforms providing electronic services in the country will have to register for VAT payments. According to news […]

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U.S Revenue Service Extends Tax Returns Filing For Hurricane Victims

The United States’ Internal Revenue Service on Tuesday announced that victims of Hurricane Ida that began on August 26 now have until January 3, 2022, to file various individual and business tax returns and make tax payments. The IRS, stated on its website that it was offering this relief to any area designated by the […]

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China Reduces Children’s Online Gaming To One Hour

China’s video game regulator has directed that online gamers under the age of 18 will only be allowed to play for an hour on Fridays, weekends and holidays. A news report by BBC.com indicated that the National Press and Publication Administration told state-run news agency Xinhua that game-playing would be only allowed between 8pm to […]

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ILO To Publish 2020-2022 World Social Protection Report In Sept

The International Labour Organization (ILO) will issue its World Social Protection Report 2020-22: Social protection at the crossroads in pursuit of a better future on Wednesday, 1 September. A statement by the ILO indicated that the flagship report provided a global overview of recent developments in social protection systems, including social protection floors, and covers […]