tax

Arizona could gain as much as $708 million in 2012 by taxing more Internet, Home Shopping Network, catalog and other out-of-state sales, according to the National Conference of State Legislatures. 

The catch: It would have to greatly simplify its sales-tax structure, with changes approved by state and federal lawmakers.

Online retailers in North Carolina can be freed from taxes and penalties in case they sign an agreement by August 31 to start collecting sales tax. The North Carolina Department of Revenue said it is working with ecommerce retailers who operate affiliate programs in the state to resolve issues of tax liability.

Any retailer that did not register for sales and use tax as a result of an affiliate program in North Carolina at any time is eligible to participate in the program, called the Internet Transactions Resolution Program (ITRP).

Monaco , a small sovereign city-state located in South Western Europe on the northern central coast of the Mediterranean Sea, is the second smallest country in the world, after Vatican City. As such Monaco is also the world's second smallest monarchy sized of just under 2 km² with an estimated population of almost 33,000. Monaco is often considered to be a tax haven, and many of its citizens and foreign inhabitants are wealthy, making up a majority of the population, at around 84%.

Google has been blamed for diverging UK tax on the £1.6bn it makes in Britain.

Google pays some tax, that is about £140,000 on interest on cash in the bank held here. But its offshore status means it, quite legally, avoids paying £450m in corporation tax.

British bankers face a sharp cut in bonus payments this Christmas following the introduction by the government Wednesday of a 50-per cent windfall tax on the controversial pay-outs. The measure, revealed in a pre-election budget by Alistair Darling, Chancellor of the Exchequer, coincides with an angry public debate about the "excesses of the bonus culture" exposed by the banking crisis.

 Henry Samueli, a co-founder of Broadcom Corp., testified on Tuesday that he was not aware of the fact that the actions of his company were illegal. He admitted that the semiconductor company awarded thousands of stock option grants to employees in the years after the company's initial public offering.

Samueli, 55, testified as a defense witness in the federal fraud trial of Broadcom's former chief financial officer, William Ruehle, who is accused of illegally backdating stock options. Ruehle has pleaded not guilty to 14 counts of fraud and conspiracy.

 Bilanz, the Swiss business magazine published the list of the richest people in the country with the huge amounts they lost during the current year. However, the report underlined that while the losses are high the figure is less than that for the previous year and the wealthy have still much money. In total Switzerland's 300 richest individuals and families lost $10 billion this year.

Many ultra rich people in Switzerland benefited from the low lump-sum tax rates as well as improved economic conditions.

 According to the reports Bank of America Corporation has suspended its current commitments to ACORN Housing, an affiliate of Association of Community Organizations for Reform Now. Earlier this month, both houses of the U.S. Congress passed legislation that would cut off federal money to ACORN, after a conservative activist secretly filmed Acorn employees giving tax and housing advice to a couple who said they wanted to set up a brothel

Amazon.com Inc. was affected with a growing movement to collect taxes on Internet transactions, and so could happen with other online retailers, but consumers have grown so comfortable with e-commerce that any impact on sales would likely be small. Over the past few weeks, Seattle-based Amazon has protested legislation in North Carolina and California that would require e-commerce companies to collect