Business Activities – 18-98 Plus http://18-98plus.com/ Tue, 11 Jan 2022 17:34:02 +0000 en-US hourly 1 https://wordpress.org/?v=5.8 https://18-98plus.com/wp-content/uploads/2021/07/icon-3-150x150.png Business Activities – 18-98 Plus http://18-98plus.com/ 32 32 Nepal imposes partial lockdown in Kathmandu Valley after surge in Covid cases https://18-98plus.com/nepal-imposes-partial-lockdown-in-kathmandu-valley-after-surge-in-covid-cases/ Tue, 11 Jan 2022 16:27:00 +0000 https://18-98plus.com/nepal-imposes-partial-lockdown-in-kathmandu-valley-after-surge-in-covid-cases/ Nepal imposed a partial lockdown in the Kathmandu Valley on Tuesday due to the recent increase in coronavirus cases, the health ministry said. Qualified as a smart lockdown, the Department of Health and Population said under the new guidelines, gathering more than 25 people in public places has been banned and anyone violating this will […]]]>

Nepal imposed a partial lockdown in the Kathmandu Valley on Tuesday due to the recent increase in coronavirus cases, the health ministry said.

Qualified as a smart lockdown, the Department of Health and Population said under the new guidelines, gathering more than 25 people in public places has been banned and anyone violating this will face action. strict.

“With instruction from the Interior Ministry, local authorities in the Kathmandu Valley have imposed a smart lockdown in the Kathmandu Valley without directly affecting public movements and economic activities. Authorities have banned the gathering of more than 25 people in public places to prevent and control the growth of coronavirus infection in the valley, ”a statement from the Ministry of Health said.

The decision on the new COVID-19 borders was taken at a meeting of district heads of the three districts – Kathmandu, Lalitpur and Bhaktapur – in the Kathmandu valley on Tuesday afternoon.

Nepal reports a steady increase in cases in recent weeks, with three districts in the Kathmandu Valley recording the highest number of infections.

On Tuesday, the Kathmandu Valley recorded 1,286 new cases980 in Kathmandu, 221 in Lalitpur and 85 in Bhaktapur, The Kathmandu Post reported.

Nepal, like many countries around the world, has started to see an increase in the number of coronavirus cases.

Nepal confirmed 2,444 new cases of COVID-19 as well as 313 recoveries and one death on Tuesday, according to the latest information from the Ministry of Health.

There are currently 9,634 active cases of COVID-19 across the country. So far, 11,607 people have died from the viral infection in Nepal.

As part of the new orders, all gatherings, processions and other crowded activities have also been restricted to a limited number of people.

Likewise, schools will be closed until January 29 under smart lockdown procedures.

(Only the title and image of this report may have been reworked by Business Standard staff; the rest of the content is automatically generated from a syndicated feed.)

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SRTF completes rubble removal project in Aleppo Governorate – Syrian Arab Republic https://18-98plus.com/srtf-completes-rubble-removal-project-in-aleppo-governorate-syrian-arab-republic/ Sun, 09 Jan 2022 19:10:06 +0000 https://18-98plus.com/srtf-completes-rubble-removal-project-in-aleppo-governorate-syrian-arab-republic/ Turkey – Sunday January 9, 2022 – The SRTF announced the completion and closure of its project: “** Removal of rubble in eight communities of the governorate of Aleppo, Phase 1” **. The project aimed to provide the technical support and equipment needed to remove rubble piles from public spaces, residential complexes, main streets and […]]]>

Turkey – Sunday January 9, 2022 – The SRTF announced the completion and closure of its project: “** Removal of rubble in eight communities of the governorate of Aleppo, Phase 1” **. The project aimed to provide the technical support and equipment needed to remove rubble piles from public spaces, residential complexes, main streets and secondary roads in eight targeted areas. However, and based on a technical planning assessment conducted by an independent contractor, the project targeted four sites in Aleppo for a total budget of EUR 802,996. A surplus of EUR 2,706 of the initially allocated budget was returned to the programmable funds of the SRTF.

The project responded to urgent needs for improving public health and living conditions through its two main objectives; removing debris accumulated in residential areas that had become home to rodents and insects causing the spread of disease, especially in some areas where the deposited rubble was used as dumping grounds; it also aimed to remove rubble from streets and public places, thus allowing residents to use these streets safely and become accessible in community areas.

The project was 120% successful in road rehabilitation activities with 6 roads cleared of rubble and debris. About 86% of beneficiaries mentioned that the condition of the roads had improved compared to a year ago and that traveling on the rehabilitated roads was easier than a year ago. In addition, cleared lots (50 lots with a total volume of 115,190 m3) were cleared as part of this project in various sectors such as residential areas, hospitals and schools with 100% success.

In terms of impact, the project benefited 182,000 beneficiaries in 42 towns / villages. Indirectly, 300,000 beneficiaries will benefit from debris cleaning activities in 170 towns / villages in northern Aleppo. In interviews conducted by IMA with beneficiaries, interviewees confirmed that the project had a direct impact on disease reduction, facilitating the movement of people and children (i.e. students) in Particularly during the winter season, he also rehabilitated agricultural roads, reclaiming transport routes, and contributed to the prosperity of the city and the improvement of industrial activity.

A female beneficiary attested: “Before the implementation of the project, debris and garbage surrounded the hospital, now that everything has been completely removed, the situation is healthy, and the image of the city and the hospital is beautiful.

For more information on this project, please visit:

Removal of rubble in eight communities in Aleppo governorate – Phase I

For more information on SRTF, visit

http://www.srtfund.org

Media can contact:

communications@srtfund.org


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New R&D credit documentation requirements clarified https://18-98plus.com/new-rd-credit-documentation-requirements-clarified/ Sat, 08 Jan 2022 05:06:43 +0000 https://18-98plus.com/new-rd-credit-documentation-requirements-clarified/ The IRS has provided advice to taxpayers and internally on its new documentation requirements for Sec. 41 Professional tax credit for increasing research activities (the R&D credit). Guidance for taxpayers comes in the form of 16 Frequently Asked Questions (FAQs) posted on the IRS website Wednesday. At the same time, the IRS issued internal guidelines […]]]>

The IRS has provided advice to taxpayers and internally on its new documentation requirements for Sec. 41 Professional tax credit for increasing research activities (the R&D credit).

Guidance for taxpayers comes in the form of 16 Frequently Asked Questions (FAQs) posted on the IRS website Wednesday. At the same time, the IRS issued internal guidelines for its employees in the form of a memo and revisions to its Internal Revenue Manual (IRM).

The new requirements come into effect on January 10, 2022. An R&D credit refund request on an amended return must contain certain specified pieces of information before it can be considered to meet the specificity requirement of the Regulation. Second. 301.6402-2 (b) (1) containing sufficient information as to the grounds and facts on which the claim is based. This is a threshold requirement for the IRS to accept the request as valid.

According to the FAQ, applicants must:

  • Identify all the business components to which the complaint relates for the year of the complaint;
  • For each business component, identify all research activities carried out, name the people who carried out each research activity and specify the information that each person sought to discover; and
  • Provide the totals for the tax year of skilled employee salary expenses, qualified procurement expenses, and qualified contract research expenses (which can be performed using Form 6765, Credit for increased research activities).

FAQ says IRS likely won’t follow AICPA’s recommendation in its Nov. 18 letter of comment to delay imposition of requirements beyond Jan. 10, 2022, to allow more time for the public to comment and for the IRS to review those comments. The American Bar Association Section of Taxation submitted a similar letter.

The FAQ (# 2) states that the new requirements will apply to stamped refund claims as of January 10, 2022. The IRS set this date when it first announced the new requirements in October 2021.

At its fall meeting in November, members of the AICPA’s IRS Advocacy and Relations Committee told Holly Paz, deputy commissioner of the Large Business and International division of the IRS ( LB&I), that they were disappointed that this requirement was not originally proposed as a regulation, which allowed for formal deliberations and contributions.

Paz then said the IRS would invite comments through a dedicated email inbox, included in the FAQ. FAQ # 1 gives the email address irs.feedback.recredit.claims@irs.gov and states that the Service will monitor and review comments received during a one-year transition period announced earlier.

Practitioners have expressed continued concern about the requirements and how the Service implements them.

“The IRS appears to have processes in place to make these procedures permanent,” said Rochelle Hodes, JD, LL.M, director, Washington National Tax, Crowe LLP, and vice chair of the AICPA committee that heard from Paz. “However, taxpayers and practitioners remain concerned that these procedures are too expensive and cumbersome.”

Hodes said she also anticipated administrative difficulties and controversy with taxpayers leading to litigation.

“These procedural challenges will divert the IRS’s R&D expertise and resources away from other compliance and enforcement activities and will not advance efforts to reduce complexity in R&D,” he said. she declared.

In an apparent change from previous IRS statements, FAQ # 8, in answering what it means to “perfect” a claim, states that taxpayers will be notified by letter of information gaps, to which they are entitled. can remedy by providing the information within 45 days of being notified, 15 days longer than what the IRS had previously said. FAQ # 7 states that this notification will be made by a letter 6426C or 6428, which will indicate what information is missing. This improvement bonus only applies during the one-year transitional period. However, FAQ # 4 states that if the IRS does not receive the additional information or if it is still considered insufficient, the Service will reject the entire refund request.

The FAQs also address another concern expressed by the committee, the timeframe within which the IRS processes the submission. FAQ # 5 states that the IRS will process a claim “as quickly as possible” and make decisions within six months of receiving it. It was not immediately clear whether this was the initial review of the documentation, a determination that includes the perfection of a claim, or a determination of the claim on the merits. Revisions to the IRM state that the initial determination of the sufficiency of information should generally be made within 30 days of receipt.

FAQs 10 and 11 provide tips on identifying people who have carried out research. Applicants can identify these individuals by listing their title or position rather than their first and last name, but taxpayers “may be asked to provide specific names upon further review of the application.” A group of individuals who have conducted research together and sought to uncover the same information for the same business component can be listed together by name or title / position.

The internal memo provides procedural guidance for Field Prosecutor Council 20214101F, which initially outlined the requirements in October and provides three revisions to the IRM. The note notes that the purpose of the documentation requirements is to initially determine the validity of an R&D reimbursement credit claim before considering the claim on the merits.

A revision of Section 4.46.3 of the IRM describes in more detail each of the information elements, what they should contain and, in some cases, how the information may be presented by the taxpayer. For example, the description of research activities by business component should include “what the taxpayer did and how he did it”, for each component. However, the description need not encompass “in detail” the four part test of Sec. 41 (d) (1).

The revision also clarifies that the business components to be identified are those which form the factual basis of the claim and are defined under Sec. 41 (d) (2) (B). The identity of the people who performed each research activity, by business component, and the information each individual sought to discover, by business component, can be presented in a list, table or story. The IRM revision also specifies that in order for Form 6765 to meet the requirement to provide the total qualified expenses of employee salaries, procurement expenses, and contract research, the form (or its equivalent) must be “correctly completed”.

Another new IRM provision states that during the one-year transition period, a claim that would otherwise be considered timely under Sec. 6511 (a) but which does not meet the documentation requirements will be considered timely if finalized within the authorized 45 days. However, after January 9, 2023, no perfection period will be allowed, the IRM says.

– To comment on this article or suggest an idea for another article, contact Paul Bonner at Paul.Bonner@aicpa-cima.com.


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Added value of economic activities in EU Member States – Products Eurostat News https://18-98plus.com/added-value-of-economic-activities-in-eu-member-states-products-eurostat-news/ Thu, 06 Jan 2022 05:14:13 +0000 https://18-98plus.com/added-value-of-economic-activities-in-eu-member-states-products-eurostat-news/ In 2020, “public administration, defense, education, human health and social activities” have become the most important economic activities in the EU. These activities accounted for 19.8% of total gross value added (GVA) in the EU, overtaking “industry (excluding construction)” (19.5%) and “wholesale and retail trade, transport, accommodation and catering ”(17.9%). At the other end of […]]]>

In 2020, “public administration, defense, education, human health and social activities” have become the most important economic activities in the EU. These activities accounted for 19.8% of total gross value added (GVA) in the EU, overtaking “industry (excluding construction)” (19.5%) and “wholesale and retail trade, transport, accommodation and catering ”(17.9%).

At the other end of the scale, the least important economic activities in the EU were ‘agriculture, forestry and fishing’ (1.8%), followed by ‘arts, entertainment and recreation ; other service activities; activities of households and extraterritorial organizations and bodies ”(3.0%).

Source dataset: nama_10_a10

When comparing the shares of GVA in 2020 with those of 2019, “wholesale and retail trade, transport, accommodation and food services” were the most affected in the share of total GVA of the EU (from 19.3% in 2019 to 17.9% in 2020; -1.4 percentage points), followed by “industry (except construction)” (from 19.9% ​​to 19.5%; -0.4 pp) and “arts, entertainment and recreation; other service activities; activities of domestic and extraterritorial organizations and bodies ”(3.3% to 3.0%; -0.3 pp).

On the other hand, the percentage of GVA generated by “public administration, defense, education, human health and social action activities” increased from 18.7% in 2019 to 19.8% in 2020 (+1.1 pp). Next come “real estate activities” (from 10.8% to 11.3%; +0.5 pp) and “information and communication” (from 5.1% to 5.5%; +0.4 pp).
In real terms, the total GVA generated by economic activities in the EU in 2020 was 5.9% lower than in 2019.

For more information:
• Eurostat Statistics Explained article on national accounts and GDP
• Section dedicated to Eurostat on national accounts
• Eurostat database on national accounts

To contact us, please visit our User Support page.

For press questions, please contact our media support.


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Civil Activities Market 2022 Global Outlook and Business Scenario – JFE, Evraz, TPCO – Industrial IT https://18-98plus.com/civil-activities-market-2022-global-outlook-and-business-scenario-jfe-evraz-tpco-industrial-it/ Tue, 04 Jan 2022 03:26:39 +0000 https://18-98plus.com/civil-activities-market-2022-global-outlook-and-business-scenario-jfe-evraz-tpco-industrial-it/ The most recent Statistical Survey Report on the Civil Activities Market involves a comprehensive assessment of the Civil Activities industry, presenting the variables that will affect the earnings of the business during the course of events assessed. In addition, it gives an expressive framework of the possibilities open in the sub-promotions close to the measures […]]]>

The most recent Statistical Survey Report on the Civil Activities Market involves a comprehensive assessment of the Civil Activities industry, presenting the variables that will affect the earnings of the business during the course of events assessed. In addition, it gives an expressive framework of the possibilities open in the sub-promotions close to the measures to take advantage of something almost identical.

The analyst presents a detailed picture of the market through the study, synthesis and summation of data from multiple sources by analysis of key parameters. Our Civil Activities Market report covers the following areas:

  • Sizing of the civil activities market
  • Civil Activities Market Forecast
  • Industry analysis of the civil activities market

Competitive analysis:

The Civil Activities market report includes information on product launches, sustainability, and outlook for key vendors including: (JFE, Evraz, TPCO, Vallourec Tenaris, Agnico-Eagle Mines Limited, US Steel Tubular Products, Chelyabinsk Pipe, ArcelorMittal, HUSTEEL, Mirabela Nickel, National Oilwell Varco, Inmet Mining Corporation, Advance Gold Corp., Nippon Steel & Sumitomo Metal Corp, TMK Group, SANDVIK, Vale)

Request sample with full table of contents and figures and graphics @ https://crediblemarkets.com/sample-request/civil-activities-market-205387?utm_source=Sneha&utm_medium=SatPR

The report includes Competitive Analysis, a proprietary tool to analyze and assess the position of companies based on their Industry Position Score and Market Performance Score. The tool uses various factors to categorize players into four categories. Some of these factors considered for the analysis are financial performance over the past 3 years, growth strategies, innovation score, new product launches, investments, market share growth, etc.

Market segmentation

The civil business market is split by type and by application for the period 2021-2028, the growth among the segments provides accurate tricks and sales forecast by type and by application in terms of volume and value. This analysis can help you grow your business by targeting qualified niche markets.

By types

Mining
Drilling
Deep well
Oil and gas

By applications

Machinery
Construction materials
Others

Regional analysis of the global civil activities market

All the regional segmentation has been studied on the basis of recent and future trends, and the market is forecast throughout the forecast period. The countries covered in the regional analysis of the Global Civil Activities Market report are North America United States, Canada and Mexico, Germany, France, United Kingdom, Russia, Italy, Spain, Turkey, the Netherlands, Switzerland, Belgium and the rest of Europe in Europe, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, China, Japan, India, South Korea , Rest of Asia-Pacific (APAC) in Asia-Pacific (APAC), Saudi Arabia, United Arab Emirates, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) being part of the Middle East and Africa (MEA), and Argentina, Brazil and the rest of South America being part of South America.

Direct purchase this market research report now @ https://crediblemarkets.com/reports/purchase/civil-activities-market-205387?license_type=single_user;utm_source=Sneha&utm_medium=SatPR

Main points covered by the table of contents:

To present: Besides a detailed overview of the global civil activities market, this segment provides an overview of the report to give an idea of ​​the nature and substance of the review study.

Analysis of the main players’ strategies: Market players can use this analysis to gain competitive advantage over their competitors in the civil activities market.

Study on the main market trends: This part of the report offers a more meaningful assessment of recent and future examples of the market.

Market Forecast: Buyers of the report will tackle accurate and approved valuations of all market sizes in terms of value and volume. The report further gives usage, creation, offerings, and different conjectures for the Civil Activities market.

Analysis of local growth: All critical regions and countries have been covered in the report. Neighborhood review will help uplift players to exploit rejected common business areas, prepare express philosophies for target regions, and consider improving each regional market.

Segment analysis: The report gives precise and solid conjectures on the slice of the pie for significant portions of the Construction Market. Market members can use this review to pinpoint key interests in key development pockets of the market.

Do you have a specific question or requirement? Ask Our Industry Expert @ https://crediblemarkets.com/enquire-request/civil-activities-market-205387?utm_source=Sneha&utm_medium=SatPR

Key questions answered in the report:

  • What will be the pace of market development of the Civil Activities market?
  • What are the key factors driving the global civil activities market?
  • Who are the main manufacturers in the market?
  • What are the market openings, the market risks and the main lines of the market?
  • – What are the sales, revenue, and price analysis of the major manufacturers of the Civil Activities market?
  • Who are the distributors, traders and resellers of the Civil Activities market?
  • What are the Civil Activities market opportunities and threats faced by the vendors of the global Civil Activities industries?
  • What is Offerings, Revenue, and Value Review by Market Types and Uses?
  • What is the Review of Transactions, Revenue and Value by Business Line?

About Us

Credible Markets is a new age market research company with a firm grip on the pulse of global markets. Credible Markets has become a reliable source for the market research needs of companies in a rapid period of time. We have worked with leading market information publishers and our reporting pool coverage spans all key industry verticals and thousands of micro markets. The massive repository allows our clients to choose from recently published reports from a range of publishers who also provide in-depth regional and national analysis. Plus, pre-booked research reports are some of our best deals.

The collection of market information reports is regularly updated to provide visitors with easy access to the most recent market information. We provide round-the-clock support to help you reuse search parameters and thus benefit from a full range of reserved reports. After all, it’s all about helping you make an informed strategic decision about purchasing the right report that meets all of your market research demands.

Contact us

Credible market analyzes

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E-mail: [email protected]


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Companies are not meeting Net Zero goals. So here is a lesson that capitalism can learn from religions https://18-98plus.com/companies-are-not-meeting-net-zero-goals-so-here-is-a-lesson-that-capitalism-can-learn-from-religions/ Sun, 02 Jan 2022 07:35:18 +0000 https://18-98plus.com/companies-are-not-meeting-net-zero-goals-so-here-is-a-lesson-that-capitalism-can-learn-from-religions/ It may be the season for peace on Earth and the goodwill of all men, but you don’t have to search the financial pages very far to find stories of companies doing the exact opposite. NatWest, for example, has just agreed to pay US $ 35 million (£ 26 million) to US authorities after pleading […]]]>

It may be the season for peace on Earth and the goodwill of all men, but you don’t have to search the financial pages very far to find stories of companies doing the exact opposite. NatWest, for example, has just agreed to pay US $ 35 million (£ 26 million) to US authorities after pleading guilty to fraudulent activity in the financial markets.

KPMG, one of the world’s largest professional services firms, has temporarily resigned from tenders for UK government contracts. He is under pressure from authorities to reform after being fined £ 13million by an industry court for serious misconduct linked to the collapse of bedmaker Silentnight, and a Financial Reporting Council investigation which found that KPMG partners have provided false and misleading information during routine audit inspections.

Meanwhile, CEOs and other corporate insiders unloaded a record US $ 69 million in stock in 2021. Much of this is done through a legitimate type of insider trading in the United States. , where executives use a system known as 10b5-1 plans to sell shares even when they have important information about the company that has not been publicly disclosed. This has prompted new hasty proposals from US officials to crack down on how these sales can be made.

All of these activities run counter to the high standards of integrity and protection of the public interest that are supposed to exist among banks, listed companies and consulting firms. It’s tempting to think that there is a simple solution when such things come to light: a change in the rules here, a fine there, a temporary ban on bidding for contracts elsewhere.

Unfortunately, something deeper is needed. There are similarities here to the huge debate over how to go to net zero emissions. The main focus is on moving to net zero technologies like wind farms or electric vehicles, rather than the underlying problem of the company’s fundamental relationship with nature.

Whether it’s carbon emissions or corporate leaders acting ethically, the problem is the same: economy and business have become a chainsaw on the very fabric of our interconnected world. We cannot escape a fundamental re-examination of our beliefs about money, markets and a transactional, individualistic and competitive society.

Learn from religion

Fortunately for us, religions have been thinking about the nature and limits of money for hundreds of years. They see business as a servant of society, never as its master. Ancient traditions give us a caring and respectful attitude towards planet Earth, where human greed is contained, and kindness and compassion towards all living beings is encouraged.

In Christianity, attention to the weak and the poor has always been at the center of its practices, and Christmas is meant to be a time of charity and generosity. It teaches us to control our greed, to experience interdependence and the joy of giving.

The Dharmic traditions of India – Hinduism, Buddhism, Sikhism and my own tradition, Jainism – have never treated animals and nature as separate from humanity. It was under the Boddhi tree that the Buddha attained enlightenment. Trees provide a safe haven for birds without charging them for parking, and offer them the best fruit without trying to turn into restaurants.

The trees hold up well even in hot weather, freely giving shade to those who embrace them. The interdependence of sun, soil and rain is understood by the tree. The silent actions of trees give us a timeless science of non-violence (ahimsa), non-possession (aparigraha) and humility (Namrata).

Fundamentally, money has always been a medium of exchange, a fiction that we humans created to help us meet daily needs. Its value stems from the trust we have in each other. The more we turn money into a factual, materialistic and global reality, the more insecure and selfish we become as a society.

Financial institutions and the financial professions have forgotten these basic truths about the nature and limits of money. They have moved away from the trust, relationships and conscience that should be at the heart of how it is run. Too often, they have become vectors of mistrust and inequality, using their political and economic power to their advantage at the expense of nature and society.

India invented zero, and it also has thousands of saints who still live today with zero wealth. These people are dedicated to exploring the possibilities for internal security and freedom that lie beyond material existence.

Likewise, the business world and finance education need to return to the fundamentals of money and its social roots to renew its culture. We’ve heard a lot about the need to move to net zero emissions, but we also need to try to create a culture of contentment and sharing. Businesses must live in harmony with animals and nature, help support the weakest and enable everyone to survive, not just the chosen few.

Atul K. Shah www.atulkshah.co.uk, Professor, Accounting and Finance, City, University of London

This article is republished from The Conversation under a Creative Commons license. Read the original article.


Read also : Inflation, Omicron major risks for Indian economy: RBI



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Remember to report income from stolen goods and illegal activity, according to IRS https://18-98plus.com/remember-to-report-income-from-stolen-goods-and-illegal-activity-according-to-irs/ Wed, 29 Dec 2021 22:21:52 +0000 https://18-98plus.com/remember-to-report-income-from-stolen-goods-and-illegal-activity-according-to-irs/ At the end of the year, as you clean out drawers and empty wallets of receipts, be sure to report to the IRS any income you have made from drug trafficking, bribes, property. stolen, prostitution or other illegal activities. According to IRS Publication 17, the Internal Revenue Service wants taxpayers to include on their forms […]]]>

At the end of the year, as you clean out drawers and empty wallets of receipts, be sure to report to the IRS any income you have made from drug trafficking, bribes, property. stolen, prostitution or other illegal activities.

According to IRS Publication 17, the Internal Revenue Service wants taxpayers to include on their forms “income from illegal activities, such as money from illegal drug trafficking.” Be sure to put this on “Schedule 1 (Form 1040), line 8z, or on Schedule C (Form 1040) if your self-employment activity,” the IRS wrote.

The agency also asks that “if you steal property you must declare its fair market value”, but only if you do not “return it to its rightful owner in the same year”.

The somewhat obscure provisions went viral this week after a popular social media account and daily newsletter author reported them.

The IRS did not immediately return a request for comment from NBC News.

As humorous as they seem at first glance, the statutes are law and have been in effect for years. Prohibition-era gangster Al Capone has been charged with tax evasion after prosecutors alleged his reported income did not match his lavish lifestyle.

“All income, regardless of source, is taxable income, unless it is excluded by an act of Congress,” said Gary Schroeder, a Maryland-based tax preparer. “If you get $ 500 to kill your neighbor’s annoying rooster, or find $ 1 on the street, or hijack your employer, that’s all taxable income, plus your paycheck for returning burgers to McDonald’s. “

In practice, it is rare for those who break the law to turn around and conscientiously record their ill-gotten gains for government review. But there are exceptions.

Those convicted or likely to be convicted of embezzlement will report the income to avoid prosecution for tax evasion on the product, Stephen Moskowitz, a San Francisco tax lawyer, told NBC News.

If a person declares and pays taxes on their illegal activities, they can also deduct the cost of any restitution, he said.

Income from activities that may be legal at the state level, such as the production of marijuana, but illegal at the federal level is also disclosed in this manner, he said.

“This law exists. It’s a source of income, ”Moskowitz said.

“Congress demands that you report all of your income, whether legitimate or not,” said David Cay Johnston, an investigative journalist specializing in tax code matters. “There are people who file income tax returns and list criminal activities such as ‘prostitute’ as a profession.

There are people who file income tax returns and list criminal activity such as “prostitute” as an activity.

David cay johnston

Since tax returns are confidential and the IRS cannot share information unless law enforcement has a record and obtains a court order to access a taxpayer’s records , this is less risky than it seems.

In 2020, there were 324 convictions for tax evasion, according to the United States Sentencing Commission, down from 595 in 2016, a drop of 45%.

“The ‘tax gap’ – the difference between taxes owed and taxes collected – runs into the hundreds of billions of dollars a year,” Schroeder said.

“While part of this gap is the unreported profit from illicit drug sales, the gap also includes people who ‘skim’ by not reporting part or all of their income that is paid in foreign currency,” did he declare.

In 2019, the IRS added a question to forms asking taxpayers to report whether they had made any cryptocurrency transactions. In 2020, the IRS moved it to the top of Form 1040. Last year, the agency said it seized $ 3.5 billion in cryptocurrency assets.


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Vice President’s Work-Life Balance Push https://18-98plus.com/vice-presidents-work-life-balance-push/ Tue, 28 Dec 2021 03:47:31 +0000 https://18-98plus.com/vice-presidents-work-life-balance-push/ Vice-President Mr. Venkaiah Naidu stressed the need to maintain work-life balance. Chennai: Vice-President Venkaiah Naidu on Monday stressed the need to maintain work-life balance and gave equal importance to professional duties and family responsibilities. Addressing a rally after the launch of the book “Dr VL Dutt: Glimpses of a Pioneer’s Life Journey”, written by VL […]]]>

Vice-President Mr. Venkaiah Naidu stressed the need to maintain work-life balance.

Chennai:

Vice-President Venkaiah Naidu on Monday stressed the need to maintain work-life balance and gave equal importance to professional duties and family responsibilities.

Addressing a rally after the launch of the book “Dr VL Dutt: Glimpses of a Pioneer’s Life Journey”, written by VL Indira Dutt, Naidu urged all business leaders to define their human resources policies in such a way. that their employees are able to manage their work. -balance of life easily.

“This would not only lead to better employee performance, but also help solve the mental health issues that are increasing in our company,” he said.

In an age when people are faced with increasing stress, mental health becomes important along with physical health.

He stressed the need for people to spend time in nature and participate in outdoor activities to relax.

The vice president advised young people to preserve and propagate India’s centuries-old mixed family system, according to an official statement.

He urged young entrepreneurs to find time for sports and outdoor activities.

He congratulated the late industrialist VL Dutt for having perfectly maintained the balance between his family life and the business world.

VL Dutt was a respected industrialist, philanthropist and visionary par excellence, who inspired an entire generation of young entrepreneurs, he said.

As head of the Federation of Indian Chambers of Commerce and Industry (FICCI), Dutt was instrumental in bridging the gap between government and industry during the crucial years of 1991-92, was t -he adds.

The Governor, RN Ravi, the Minister of Environment of TN, Siva V Meyyanathan, Chairman and Managing Director of KCP Limited, VL Indira Dutt, Joint Managing Director, V Kavitha Dutt attended.


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Indian companies mop up more than cr 9 lakh through equity and debt pathways in 2021 https://18-98plus.com/indian-companies-mop-up-more-than-cr-9-lakh-through-equity-and-debt-pathways-in-2021/ Sun, 26 Dec 2021 09:35:02 +0000 https://18-98plus.com/indian-companies-mop-up-more-than-cr-9-lakh-through-equity-and-debt-pathways-in-2021/ Unless the ever-evolving Omicron situation plays a spoiler, next year should be a lot more robust in terms of fundraising activities and there doesn’t appear to be a shortage of funds, the experts said. “Banks have been sitting on excess liquidity for some time and there should be enough appetite for quality borrowers,” said Ricky […]]]>

Unless the ever-evolving Omicron situation plays a spoiler, next year should be a lot more robust in terms of fundraising activities and there doesn’t appear to be a shortage of funds, the experts said.

“Banks have been sitting on excess liquidity for some time and there should be enough appetite for quality borrowers,” said Ricky Kirpalani, Principal Sponsor, First Water Capital Fund.

Over the past year, fundraising through debt markets has fallen sharply, while equity fundraising has been robust and the bullish run of stock markets with liquidity all around has resulted in a lift. record funds through Initial Public Offerings (IPOs).

Also read: Highest Amount Raised Thanks to IPOs in 2021. See the list of blockbusters

Despite the plunge in debt fundraising, it continued to contribute a lion’s share of overall fundraising activity in 2021.

Debt fundraising slowed due to long-term economic disruption during the first wave of the coronavirus pandemic, followed by a prolonged impact of the devastating second wave, said Sandeep Bhardwaj, CEO, Retail, IIFL Securities.

On cumulative ??9.01 lakh crore raised through mid-December of this year with funds totaling ??5.53 lakh crore was wiped out from the debt market, ??2.1 lakh crore came from the stock market, ??30,840 crore via REITs and InvITs and ??1.06 lakh crore via the overseas route, showed data compiled by leading analytics database Prime.

In 2020, companies raised ??11 lakh crore, including ??7.91 lakh crore by debt and ??2.12 lakh crore through equity.

Explaining an increase in fundraising through the debt path in 2020, Samir Sheth, Partner and Head – Deal Advisory Services, BDO India, said the companies halted because a strict lockdown was imposed since March 2020 and to deal with the negative impact of the same. , companies have resorted to debt.

He further said the stock market was down for most of the year and the PE / VC markets were also not very active, leaving companies with few options other than debt financing. in 2020.

New capital has been raised by companies for debt repayment, to fund capital spending on new projects, to support inorganic growth like acquisitions, as well as for marketing and R&D purposes, Satyen said. Shah, Managing Director and Head of Investment Banking at Edelweiss Financial.

While businesses wanted the cash to overcome uncertainties surrounding the pandemic in 2020, much of this has been linked to economic growth in 2021 and businesses are raising funds primarily to grow, Sheth said.

Of the total ??5.53 lakh crore raised on Indian debt markets in 2021, ??5.38 lakh crore came from the private placement and ??14,277 crore were issued through public broadcasts.

“India’s debt markets are mainly exploited by financial sector companies which use funds for future loans (as the business cycle accelerates) and strengthen capital cushions,” said Ajay Manglunia, Managing Director and Head of Institutional Fixed Income, JM Financial.

The non-financial group deploys the funds primarily for general business expenses, capital spending and capital for inorganic growth opportunities, in addition to refinancing existing debt, he added.

In the equity market, funds came mainly from initial stock sales, as abundant global liquidity, a robust equity market and massive equity participation pushed the IPO market to new levels this year.

In the equity segment, the IPO route has helped companies raise ??1.2 lakh crore, Qualified Institutional Placement Route (QIP) added ??41,894 crore, issue of share rights to existing shareholders recognized ??27,771 crore, while the offer to sell (OFS) via the stock exchange mechanism contributed ??22,912 crores.

A total of 63 registered IPOs ??1.2 lakh crore and IPOs of small and medium-sized enterprises (SMEs) ??710 crores.

In comparison, ??26,613 crore was raked in through 14 IPOs on the motherboard, while ??159 crore came via the SME segment in 2020.

Vibrant stock markets and dramatic listing gains by some companies were the main factors behind the IPO frenzy, said Piyush Nagda Head-Investment Product at Prabhudas Lilladher.

Bhardwaj of IIFL Securities believes that the uptrend will continue in 2022 for the IPO market as well and that the new year could see a new record level of funds raised as the initial mega-sale of LIC shares is also underway. Classes.

Apart from public issues, equity fundraising via QIPs has fallen to ??41,894 crores in 2021 from ??84,509 crore last year, mainly due to the availability of cheaper debt and the expectation of high valuations due to rising markets, making promoters hesitant to dilute.

Another reason for the decline in QIP fundraising could be expectations of a further rise in the stock markets, with markets steadily rising from the start of the year until mid-November.

The number of PAQs in 2021 was higher than last year, but the quantum was relatively lower.

Going forward, Kriplani, of First Water Capital Fund, said fundraising through QIPs may accelerate as the investment spending cycle now picks up and valuations are rich.

The funds raised via the rights issue mode also plunged to ??27,771 crores in 2021 from ??64,984 crores last year. Bharati Airtel has contributed largely with its ??21,000 crore rights issued this year.

The year 2020 saw Reliance’s largest rights issue ever to the tune of ??53,000 crore, which makes this year pale in comparison.

However, the funds collected via the OFS channel – used for the dilution of the promoters’ participations – amounted to ??22,912 crore this year, from ??20,901 crores in 2020.

In addition, companies have adopted the mode of infrastructure investment trusts (InvIT) and real estate investment trusts (REITs) to raise funds and rake in funds. ??32,125 crore in the passing year, less than ??38,109 crores mobilized in 2020.

Apart from the interior route, funds totaling ??1.06 lakh crore was raised through the foreign bond and currency convertible bond (FCCB) markets, much lower than close to ??68,000 crore raised last year.

Going forward, experts believe that a robust financing scenario for Indian companies will continue until 2022 for equity and debt pathways.

“Given the high liquidity, the situation of Covid under control, the outlook for positive corporate earnings and overall growth in India. We expect investors to continue to seek funding for Indian companies.” said Shah of Edelweiss Financial Services.

According to BDO India’s Sheth, barring a significant economic impact from Omicron, the overall economic growth and significant funding scenario for Indian companies will continue through 2022.

Regarding debt, Bhardwaj of IFL Securities believes that significant fundraising through debt is likely to occur in the coming quarters as the economy is back on track and the economy is back on track. private investment plans are resuming. PTI SP BJ BJ

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Northern Powerhouse Fund Secures Renowned Investors As It Builds Top Team | Economic news https://18-98plus.com/northern-powerhouse-fund-secures-renowned-investors-as-it-builds-top-team-economic-news/ Fri, 24 Dec 2021 12:05:40 +0000 https://18-98plus.com/northern-powerhouse-fund-secures-renowned-investors-as-it-builds-top-team-economic-news/ The university spin-off company chaired by Lord O’Neill, the former treasury minister and Goldman Sachs economist, has won backing from a syndicate of the city’s investment giants. Sky News has learned that funds managed by M&G Investments, Lansdowne Partners and Columbia Threadneedle are to invest in Northern Gritstone, a collaboration between the universities of Leeds, […]]]>

The university spin-off company chaired by Lord O’Neill, the former treasury minister and Goldman Sachs economist, has won backing from a syndicate of the city’s investment giants.

Sky News has learned that funds managed by M&G Investments, Lansdowne Partners and Columbia Threadneedle are to invest in Northern Gritstone, a collaboration between the universities of Leeds, Manchester and Sheffield.

The involvement of these leading funds is a major boost for Northern Gritstone, which intends to become one of the most prolific investors in university spin-outs and IP-rich companies in the UK.

He plans to focus his investment activities on fast growing sectors such as advanced materials, energy and healthcare technologies.

The new investment firm, which is advised by Lazard bankers, is raising capital to establish a so-called evergreen investment vehicle, with a maximum fund size of £ 500million.

The first closing of its fundraising, which will lock in the money of a first group of investors, is expected in the first quarter of next year.

Advanced discussions would take place with a range of other potential funders.

Northern Gritstone also plans to announce in the coming weeks that it has recruited Marion Bernard, a seasoned investor in early stage growth companies, as its chief investment officer.

Ms. Bernard joins the new vehicle of the Firmament Group, which supports small and medium-sized businesses.

Previously, she worked at the Business Growth Fund, the company created by the UK’s largest banks in the aftermath of the 2008 financial crisis, at 3i Ventures and at Barclays.

Lord O’Neill, who previously oversaw the creation of the Northern Powerhouse Partnership with the aim of accelerating the growth of the biggest engines of the economy of the North of England, said: “Our potential shareholders fully understand our ability to produce an impact beyond the attractive, immediate financial returns that we can generate.

“Northern Gritstone has the ability to invest in the world’s leading science and innovation emanating from some of the world’s top-ranked universities, enabling us to support the growth sectors and world-class companies of the future. . “

Northern Gritstone had previously appointed Duncan Johnson, the former boss of the private equity arm of Caledonia Investments, as its first managing director.

The fund claims that it will be supported by the principle of “profit with objective”, which means that its investment activities will have the dual objective of generating attractive returns for its shareholders, as well as having a positive, societal and positive impact. broader economic.

Its aim is to tap into one of the world’s leading pools of researchers, academic staff and postgraduate students – the universities of Leeds, Manchester and Sheffield having hosted 38 Nobel Laureates.

The founding universities of Northern Gritstone are said to produce almost 10% of all patents and a fifth of all intellectual property licenses filed by higher education institutions in the UK.

Comparable spin-off university companies, such as Oxford Sciences Innovation, have grown into large companies with “unicorn” ratings.

Ms. Bernard said: “The values ​​of the company as well as its ability to generate first quartile returns for shareholders fully align with my own aspirations and values. “


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