The Canadian government posted a budgetary surplus of C$2.21 billion ($1.77 billion) in January, helped by higher personal income tax revenues, the finance department said on Friday. Revenue rose 1.5 percent to C$25.42 billion, lifted by a 7.3 percent increase in personal income tax revenue.
Italian prosecutors have wrapped up an investigation into allegations U.S. tech giant Apple failed to pay corporate taxes to the tune of 879 million euros ($964 million), two sources said on Monday. The investigations, covering the period 2008-2013, involve two managers from the Italian subsidiary of Apple operations and one from its Irish-based subsidiary A […]
Gripped by financial crisis, the Palestinian government said on Tuesday it was putting an emergency budget in place for 2015 due to the absence of pledged international aid and Israel withholding its tax revenues. "The general budget law for 2015 comes amid complicated and tough conditions, as the treasury is suffering a choking financial crisis," […]
Chicago Mayor Rahm Emanuel on Friday called for phasing in higher, state-mandated payments to city pension funds to avoid a shock to the city's budget and a big property tax hike. Under an Illinois law, Chicago's contributions to its police and fire pension funds will increase by about $550 million next year. Another state law allowing cost-saving […]
Revel Casino's hard luck continues after a U.S. Bankruptcy Court judge rejected its agreement for a sale to a Florida developer for $82 million, marking the third failed deal for the shuttered hotel in New Jersey's struggling seaside resort of Atlantic City. Judge Gloria Burns in Camden, New Jersey, said she could not approve the sale because it wo […]