Latest news with #corporatetaxes
Yahoo
5 days ago
- Business
- Yahoo
Federal government posts $6.5 billion deficit in April, May
The federal government posted a $6.5 billion deficit in the first two months of the fiscal year. The result for the April-to-May period compared with a $3.8 billion deficit for the same stretch last year. Revenues increased $26 million, virtually unchanged from the prior year, as increases in customs import duties and pollution pricing proceeds to be returned to Canadians were largely offset by a decrease in revenues from corporate income and goods and services taxes. The Finance Department says program expenses excluding net actuarial losses rose $2.9 billion, or four per cent. Public debt charges increased $400 million, or 3.8 per cent, due to an increase in the stock of marketable bonds and higher consumer price index adjustments on real return bonds. Net actuarial losses fell $600 million, or 46.8 per cent. This report by The Canadian Press was first published July 25, 2025. The Canadian Press
New York Times
11-07-2025
- Business
- New York Times
Germany Takes an Unassuming Approach to Tax Cuts, in Contrast to Trump
Germany is about to cut corporate taxes as part of its new leader's plan to reignite growth. Though it might sound like President Trump's economic agenda, which also features a large and recently passed tax cut, it is anything but. The tax bill approved by Germany's upper house of Parliament on Friday is a throwback to what increasingly feels like a bygone era in Western policymaking. An early and important plank of Chancellor Friedrich Merz's economic agenda, it has been pitched, and critiqued, in the language of classical economics. The bill has stirred little controversy and generated relatively few headlines this week. In those ways, it is a contrast to the so-called 'big, beautiful' tax-cut bill that Mr. Trump signed this month, even though the German and U.S. bills shares a central tenet: that countries can attract more investment by reducing the taxes that business owners must pay. Mr. Merz's bill was expected to become law later Friday, with a signature from the nation's president, who largely holds a ceremonial role. Reviving Germany's economy, Europe's largest, is the most important challenge facing Mr. Merz, officials across the government say. Want all of The Times? Subscribe.
Yahoo
21-06-2025
- Business
- Yahoo
Greenland Resources secures 30-year exploitation licence for Malmbjerg project in Greenland
Greenland Resources has been granted a 30-year exploitation licence for molybdenum and magnesium at the Malmbjerg project in Greenland. The licence stipulates that mining activities must commence by 31 December 2028 and allows for a potential licence extension of up to 50 years. The company is also focusing on addressing additional requirements that can be met following the issuance of the exploitation licence. Greenland Resources has committed to an environmentally conscious mine and process plant design, aiming to reduce CO₂ emissions and water usage. The Malmbjerg project is a pure molybdenum open-pit venture in east-central Greenland near the coast, north-west of Iceland and close to Mestersvig airport. The project is expected to generate more than $800m (DKr5.18m) in corporate taxes for the Greenland Government over its lifetime. The mineral reserves are estimated at 245 million tonnes (mt) with 571 million pounds (mlb) of molybdenum metal, ideal for European high-performance steel products due to its low impurity levels. Greenland Resources executive chairman of the board Ruben Shiffman said: 'We sincerely thank the Government of Greenland. Our team has a good track record from previous mining projects on sustainable mining and providing wealth and prosperity to communities. 'Malmbjerg has the potential to generate close to $1bn in taxes during the 20-year life of the mine, can create critical infrastructure on the east coast and provide people with new life skills. The project comes at a time of deglobalisation and significant growth in defence expenditures. It will be able to supply around 25% of all EU molybdenum needs and 100% of defence applications.' A definitive feasibility study for the project was completed by Tetra Tech in February 2022. The project's feasibility study highlights include a 20-year mine life with an average annual production of 32.8mlb of molybdenum metal in the first ten years, and an average life-of-mine production of 24.1mlb. In February, Greenland Resources secured a ten-year offtake agreement with Outokumpu valued at approximately $160m (€138.94m) to supply 8mlb of molybdenum annually. This partnership supports Greenland Resources' long-term strategy and facilitates capex financing, with Outokumpu assisting in the arrangements. "Greenland Resources secures 30-year exploitation licence for Malmbjerg project in Greenland" was originally created and published by Mining Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Wall Street Journal
07-05-2025
- Business
- Wall Street Journal
Higher U.S. Taxes Are an AI Win for China
You may also like Close Created with sketchtool. Up Next Close Created with sketchtool. Embed code copied to clipboard Copy Link Copy Embed Facebook Twitter Close Created with sketchtool. Your browser does not support HTML5 video. 0:00 Play Created with sketchtool. Paused Mute Created with sketchtool. 0:00 / 6:10 Share Created with sketchtool. Closed Captions Active Created with sketchtool. Fullscreen Inactive Created with sketchtool. WSJ Opinion: Republicans For Higher Tax Rates Play video: WSJ Opinion: Republicans For Higher Tax Rates Keep hovering to play Journal Editorial Report: GOP lawmakers eye changes as part of their 'Big, Beautiful' bill. Photo: Roberto Schmidt/AFP/Getty Images As Congress negotiates critical tax reforms, lawmakers must realize that raising corporate taxes in any way would weaken America's position as a global leader. Nowhere is this more evident than in the 21st-century version of the space race: the high-stakes competition with China over artificial intelligence and emerging technologies. The world has changed dramatically since Neil Armstrong landed on the moon, but the lesson of America's Cold War victory remains the same: When Washington sets clear strategic objectives and aligns policy to support them, it fuels extraordinary innovation and prosperity.
