Latest news with #Form1
Yahoo
5 days ago
- Business
- Yahoo
Texas Stock Exchange Wants to Compete with NYSE
The Texas Stock Exchange is filing its Form 1 registration with the SEC to register as a national securities exchange. Reports indicate it has secured over $161 million dollars in funding as it aims for a 2026 launch. Jeb Hensarling, Texas Stock Exchange Strategic Adviser and Former Chairman of the House Financial Services Committee joined Bloomberg Open Interest to talk about the new exchange. Sign in to access your portfolio
Daily News Egypt
15-05-2025
- Business
- Daily News Egypt
Egypt launches specialized tax units to boost business confidence
Rasha Abdel Aal, Head of the Egyptian Tax Authority (ETA), has announced the establishment of several specialized units designed to support businesses and streamline tax processes. The new units—Investor Support, Advance Tax Rulings, and Tax Complaints—form part of a broader initiative to enhance responsiveness to investors and improve the overall tax environment. The Investor Support Unit aims to simplify procedures and foster a more investment-friendly climate. The Advance Tax Rulings Unit allows taxpayers to request binding, official interpretations of their tax obligations before conducting transactions. Meanwhile, the Tax Complaints Unit will handle taxpayer grievances promptly and professionally. The announcement came during the Tax Facilitation Package Conference in Damietta, held under the auspices of the Future of the Nation Party and in coordination with the Tax and Customs Committee of the Federation of Egyptian Industries. The event brought together regional tax office leaders, business figures, manufacturers, craftsmen, and representatives from industry chambers. Abdel Aal highlighted the significant tax system reforms launched in 2018 by the Ministry of Finance and the ETA, including the introduction of electronic tax returns, a core tax system upgrade, e-invoicing, e-receipts, unified wage tax calculations, and improved digital infrastructure integrated with government systems. 'While we've made considerable progress—recognized both locally and internationally—we paused last July to assess our achievements and address challenges,' she said. 'This led to the rollout of the first phase of the Tax Facilitation Package, which aims to create a more just, efficient, and transparent tax framework.' A cornerstone of this reform is a simplified tax system for businesses with annual revenues up to EGP 20m. Under Ministerial Decree No. 167 of 2025, businesses enrolling by 12 August 2025 will be exempt from past tax liabilities. The new system eliminates complex bookkeeping and returns, calculating income tax as a fixed percentage of turnover and applying uniformly across all sectors. Businesses exceeding the EGP 20m threshold will transition to the general tax regime but still benefit from initial simplified entry. To enroll, taxpayers must submit Form 1/10 via the ETA website and opt into the system under Law No. 6 of 2025. Participants must also file simplified returns, join the e-invoice and e-receipt systems where applicable, and follow unified wage tax guidelines. Notably, enrolled businesses will be exempt from tax audits for five years. Additional relief includes quarterly VAT filings and annual payroll tax submissions, reducing administrative burdens. Late payment penalties are also capped at 100% of the original tax due. Abdel Aal concluded by reiterating the ETA's commitment to building a fair and supportive tax environment that promotes transparency, facilitates compliance, and encourages investment across Egypt.
Yahoo
01-04-2025
- Business
- Yahoo
NYSE Texas launch steals thunder from TXSE: Trial Balance
This story was originally published on To receive daily news and insights, subscribe to our free daily newsletter. The Trial Balance is weekly preview of stories, stats and events to help you prepare. The New York Stock Exchange Texas, the first securities exchange to be incorporated in the Lone Star state, is now live and 'open for business.' Just last month, the New York Stock Exchange announced it was reincorporating its electronic exchange NYSE Chicago to Texas and renaming it NYSE Texas. The rush to create an exchange in Texas comes as no surprise. The state is currently undergoing unprecedented growth in labor and business. Its capital of Austin, which has become a technology hub near the finance-centric Dallas metro area, has been credited as one of the few growing cities in America that has created successful initiatives to build affordable housing at scale amidst expansion. The exchange's creation and rapid launch come as the Texas Stock Exchange awaits SEC approval after announcing its plans in June 2024. In an inquiry on March 14, a TXSE spokesperson told the firm had recently filed registration with the SEC and would only provide insight on plans and access to leadership once their Form 1 application is publicized by the commission. The TXSE has publicly said they tend to launch in early 2026. Trump Media & Technology Group, the operator of social media platform Truth Social and founded by President Donald Trump, is the first company to be listed on the exchange. The company will trade under the ticker 'DJT.' 'We are thrilled to open NYSE Texas to corporate issuers and to welcome Trump Media & Technology Group to our NYSE community through a NYSE Texas listing,' said Lynn Martin, president of NYSE Group. 'This new offering, which we announced just last month, will allow companies to capitalize on the pro-business dynamics in Texas.' As the NYSE notes in its release, the decision comes in tandem with organizations that are moving their headquarters to Texas as well. Within recent years, legacy brands with established headquarters in other areas have moved to Texas for its business-friendly environment, including Chevron, SpaceX, Yum Brands, Fisher Investments, Tesla and Oracle. Institutional investors are also expressing interest in the state's expanding economy. Leaders from the TXSE or the organization as a whole have yet to comment on the NYSE Texas' launch. They also chose not to comment earlier this year on the announcement of the NYSE Texas' creation. Here's a list of important market events slated for the week ahead. Monday, March 31 Chicago Business Barometer (PMI) Tuesday, April 1 S&P final U.S. manufacturing PMI, March Construction spending, Feb. ISM manufacturing, March Job openings, Feb. Wednesday, April 2 ADP employment, March Factory orders, Feb. Thursday, April 3 Initial jobless claims, week of March 29 U.S. trade deficit, Feb. S&P final U.S. services PMI, March ISM services, March Friday, April 4 U.S. employment report, March U.S. unemployment rate, March This week, contributing writer and CFO of PTI Technologies Steve McNally will publish a story on controlling employee benefit costs. Regardless of industry, CFOs have seen healthcare costs increase. McNally's piece aims to help provide ways in which finance leaders can help alleviate some pressure on the seemingly spiraling costs of employee benefit offerings. Recommended Reading The IPO market is ready for a comeback, says Armanino's Dean Quiambao Sign in to access your portfolio
The Guardian
20-02-2025
- Politics
- The Guardian
NSW has passed controversial hate speech and protest laws. Here's what you need to know
The New South Wales government has passed controversial laws to crack down on hate speech and protests with the threat of hefty fines and jail time. The laws – which passed on Thursday night – are part of a suite of reforms aimed at curbing antisemitism amid a spate of arson attacks and vandalism. Some have praised the swift action taken by the Minns government, while others have criticised the broad nature of the laws. The criticism has also come internally from Labor MPs, with one reportedly saying in a meeting the protest-related laws were the most 'draconian' in decades. Here's what you need to know. The laws cover a number of measures, including displaying a Nazi symbol on or near a synagogue, and create an aggravated offence for graffiti on a place of worship. But the most controversial changes have been the government's move to criminalise people making racist remarks in public and restrict protests near places of worship. Both carry a maximum penalty of two years in prison. The government has made it an offence to hinder someone from leaving or entering a place of worship. Controversially, police will also now have full application of their move on powers 'in or near' places of worship, regardless of what a protest is about and whether it is even directed at a religious institution. This means that if someone is obstructing someone 'in or near' a place of worship, police can issue a move on order. Generally, this police power is restricted to only when there is risk of serious harm, given protests tend to obstruct people. This will not apply to protests that have obtained approval from the police via a Form 1 application, which can take police several days to process. A number of legal experts and Labor's own MPs have called out the broad nature of the laws. One particular issue is that how 'near' a person must be to a place of worship before police can issue a move on order is difficult to say, and is at the discretion of police. If someone ignores a police officer's move on order and is charged, it would then be up to the courts to determine. 'This is why the law is so bad because it is not precise,' says David Mejia-Canales, a senior human rights lawyer at the Human Rights Law Centre. 'It's very difficult for a person on the street, or the cops for that matter, to know with certainty whether anyone is breaking the law or not.' A number of major protest sites are near places of worship. This includes Hyde Park, where weekly pro-Palestine rallies are held, Sydney's Town Hall and the supreme court. Sign up for Guardian Australia's breaking news email Criticism was also raised in Labor ranks during a fiery caucus meeting last week. One MP attempted to amend the law so that it was specific to protest targeting places of worship. However, this was voted down. On Thursday, Minns was asked for a response to another Labor MP saying the laws were the most draconian anti-protest measures in decades. That was 'hyperbole', the premier said. 'There are protests, they take place almost on a weekly basis … However, we have to balance the right to protest with people's rights to be free from vilification,' Minns said. Minns has also said he does not believe the broad nature of the laws has left them open to misuse. 'We do put a lot of trust in NSW police, and I believe that they exercise it judiciously.' The NSW Bar Association has agreed with the government that the laws strike the right balance between the right to freedom of religion and the right to freedom of expression. The government has also passed a bill that makes it a criminal offence to intentionally and publicly incite hatred towards another person, or group of people, on the grounds of race. After backlash that the scope of the laws are limited to race, the government will also undertake a six-month review to determine if the laws should be expanded to include other vulnerable groups, such as the LGBTQ+ community. 'They will make a difference,' Minns told reporters on Thursday ahead of the laws passing. 'We believe they're essential in sending that clear and unambiguous message that we won't tolerate racism.' The Executive Council of Australian Jewry has supported the laws as an important step in stemming violence, but argued the scope of the laws should be widened to cover incidents that do not occur in public. However, the Human Rights Law Centre has questioned whether the laws will make a difference. 'There is no evidence that the law will address the recent spate of antisemitic incidents in NSW or the disturbing rise of neo-Nazi and far-right extremist activity,' says the senior lawyer Arif Hussein. 'Governments should be prioritising investigating the nature of these incidents, before passing rushed and punitive laws, without proper community consultation.' The Racial Justice Centre agrees, stating: 'These laws do not appropriately respond to the growing threat of racial hatred in Australia.' The NSW Bar Association has also opposed the laws. It says it agrees with a November review by the Law Reform Commission that consulted widely with faith and legal groups and recommended not broadening the laws or introducing other offences to curb public incitement of hatred. 'The association shares the concerns expressed by the NSW Law Reform Commission in its recent review of serious racial and religious vilification, that terms such as 'hatred' introduce imprecision and subjectivity into the criminal law,' its president, Ruth Higgins, says.
Yahoo
13-02-2025
- Business
- Yahoo
The New York Stock Exchange is coming to Texas
The New York Stock Exchange is relocating its Chicago headquarters to Dallas. Texas is attracting businesses due to its favorable taxes and regulations. Texas is now home to 3.3 million startups and 1 in 10 US publicly traded companies. The Lone Star State is on track to become a business hub, rivaling the likes of Silicon Valley and Wall Street. The New York Stock Exchange announced Wednesday that it would be relocating its Chicago headquarters to Dallas. The fully electronic exchange will serve as a platform for companies to list and trade securities. "As the state with the largest number of NYSE listings, representing over $3.7 trillion in market value for our community, Texas is a market leader in fostering a pro-business atmosphere," NYSE Group president Lynn Martin said in a statement. The NYSE did not respond to Business Insider's request for comment. Over the past decade, hundreds of businesses, including Charles Schwab, Oracle, and HPE, have established a base in Texas, their leaders citing business-friendly taxes and regulations. Billionaire Elon Musk has added momentum to the migration. He moved Tesla's headquarters to Austin in 2021. In July, he announced that he would also move X and SpaceX to Texas, and said that other companies would follow suit. Texas is now home to more than 3.3 million startups and small businesses and 1 in 10 publicly traded companies in the US, according to a fact sheet from Texas governor Greg Abbott. At $2.6 trillion, it's the eighth largest economy in the world, surpassing countries like Russia, Canada and Italy. "Texas is the most powerful economy in the nation, and now we will become the financial capital of America," Texas Gov. Greg Abbott said in a statement on Wednesday. "With the launch of NYSE Texas, we will expand our financial might in the United States and cement our great state as an economic powerhouse on the global stage." The arrival of the centuries-old NYSE signals that Dallas may be emerging as the state's financial capital. In January, the Texas Stock Exchange — a smaller competitor backed by major financial institutions like BlackRock, Citadel Securities, Charles Schwab — announced that it had filed its Form 1 registration with the US Securities and Exchange Commission and was targeting a 2026 launch. Read the original article on Business Insider Sign in to access your portfolio
