OctaFX | OctaFX Forex Broker
Open trading account

US companies push to repeal AMT - WSJ

According to the latest story published by the Wall Street Journal (WSJ), the US technology, banking and other industries mounted a new round of lobbying Monday to save a wide range of tax breaks, following the Senate’s decision to keep a corporate alternative minimum tax, or AMT, in a last-minute switch to keep the tax overhaul alive.

Key Quotes:     

“The corporate AMT is a parallel system with low rates and fewer breaks that kicks in if a variety of tax breaks bring a firm's regular tax bill too low. Currently, the corporate AMT of 20% rarely applies, since most corporations face a higher 35% tax rate and benefit from breaks eligible under both systems.

With a proposed 20% corporate rate, many companies could end up in the AMT-and lose some of their tax breaks in the process.

Among S&P500 companies reporting $3.1 billion in tax benefits from the credit in 2016, 85% went to 20 corporations, mostly in the tech, pharmaceutical, and defense sectors - citing Calcbench as its source.”

Australia: Oct retail sales up 0.5% - Westpac

Australia’s retail sales posted a slightly better than expected result for Oct with a 0.5% gain vs consensus forecast of +0.3%mth, notes Matthew Hassa
Read more Previous

UK: Politics on the forefront - Rabobank

In view of analysts at Rabobank, it appears British PM Theresa was quite prepared to eat another hearty slice of humble pie in yesterday’s Brexit nego
Read more Next
Start livechat