Finance & Economics | WPN World People News

Campaigners for taxpayers on low incomes have given a cautious welcome to a call for evidence launched on ways in which online platforms could act as intermediaries between their users and HMRC by enabling users to understand and comply with their tax obligations on Mar 13, 2018.

A new poll from the National Taxpayers Union (NTU) finds that strong majorities across party lines oppose the imposition of new internet sales tax legislation like the Remote Transactions Parity Act or Marketplace Fairness Act. This poll comes as legislators on Capitol Hill are considering the possibility of adding such legislation to an omnibus appropriations bill. The survey finds that 65 percent of Americans oppose this expansion of taxing powers.

Korea’s economy has progressed rapidly over the past 40 years, catching up with the level of well-being in most OECD countries. It now needs to continue and speed up the reforms of its labour market in order to strengthen its social safety net, create better quality jobs and boost inclusive growth, according to a new OECD report.

On 13 March 2018, the Council reached agreement on a proposal aimed at boosting transparency in order to tackle aggressive cross-border tax planning.

The Vienna Initiative, which helped protect the banking system in emerging Europe during the global financial crisis, has now set its sights on a growth model for the region that drives forward innovation and boosts productivity. Its new approach aims to give a fresh impetus to growth in the region and to promote convergence with higher income EU countries.

On 13 March 2018, the Council removed Bahrain, the Marshall Islands and Saint Lucia from the list and added the Bahamas, Saint Kitts and Nevis and the US Virgin Islands.

The OSCE’s economic and environmental activities are among its greatest successes, on March 13, OSCE Parliamentary Assembly George Tsereteli (Georgia) said at an international conference in Baku. Parliamentarians have a key role to play in favoring economic opportunities and increased trade to support security across the OSCE area, he said, adding that all OSCE countries are becoming increasingly aware of the link between economic success and individual security.

The Internal Revenue Service warned taxpayers to be alert to unscrupulous return preparers touting inflated tax refunds on Mar 12, 2018. These scam artists frequently prey on older Americans, low-income taxpayers and others with promises of big refunds.