• Regulatory & Tax

June 26. 2021
Taxing the rich is a contentious subject worldwide, all the more so because of the widening gap between the top one-percenters and the poor majority. Some argue that higher taxes on the wealthy is an economy killer. The opposing view is that taxing the wealthy more helps to redistribute wealth. No country quarrels louder on this issue than the United States. In recent weeks, the wealth tax debate has become more antagonistic after ProPublica dropped a bombshell indicting the country's rich for tax avoidance. According to the publication, A...

• Regulatory & Tax

June 16. 2021
Within 100 days of his presidency, president Joe Biden outlined an ambitious undertaking for the new administration. He called it the Build Back Better program. It includes the American Rescue Plan Act (already enacted), the proposed American Jobs Plan, and the American Families Plan. But the possibility of the proposed plans coming to fruition diminishes by the day for one critical reason. Mr. Biden's administration needs to make substantial adjustments to the US tax law to raise sufficient funds for the program. A new tax code will s...

• Regulatory & Tax

June 02. 2021
Indonesia needs more money to fund government projects. It also needs to raise more tax revenue to reduce the budget deficit. It plans to drill deeper into the pockets of its wealthy citizens to get the money. In addition to being the largest economy in Southeast Asia, Indonesia is set to record the world’s fastest increase in the number of billionaires in the next five years, according to Knight Frank’s 2021 Wealth Report. As Indonesia’s billionaires increase, the government wants to get them to pay more to strengthen the state’s b...