Posts Tagged ‘bonds’

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Italy’s new Prime Minister Matteo Renzi is already chomping at the bit to implement some radical economic reforms after his chief of staff revealed that the government is looking at whether to hit savers with a rise in financial investment gains tax.

Logically, what happens in Cyprus should stay in Cyprus. With a population of just over 1 million and an economy that’s a mere 0.2 percent of the 17-nation eurozone, the country seems too small to matter on the world stage.

India is seeking to boost investment by slashing its withholding tax on rupee-denominated infrastructure bonds to 5 percent from 20 percent, a Finance Ministry document seen by Reuters shows.

Portugal has adopted sweeping tax hikes to meet budget goals under its international bailout, prompting unions to call a general strike against austerity measures that have exacerbated recession and are set to push record unemployment yet higher.

In 2011, 35,000 taxpayers making more than $200,000 a year paid no federal income tax. As Matthew O’Brien notes at The Atlantic, 61 percent of those avoided tax for the same reason: their income consisted largely of interest on tax-exempt municipal bonds.

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