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Consumer prices ticked up 2.7% in November
U.S. inflation picked up in November, according to the Labor Department, whose consumer price index (CPI) increased 2.7% from a year earlier, following on from a 2.6% rise in October. Core prices, which exclude volatile food and energy items, climbed 3.3% over the previous 12 months. On a monthly basis, CPI was 0.3% higher, driven…
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UAE introduces 15% minimum tax
The United Arab Emirates will implement a minimum top-up tax (DMTT) of 15% on large multinational companies starting in January. The move aims to enhance non-oil revenue and is part of the OECD’s global minimum corporate tax agreement, which has 136 signatories, including the UAE. The DMTT will target companies with consolidated global revenue of…
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Deloitte Consulting appoints new chair and CEO
Deloitte U.S. has announced the appointment of Jason Salzetti as the new chair and chief executive of Deloitte Consulting, effective January 27th. He will succeed Dan Helfrich, who has held the position since 2019. “Jason is a visionary leader with a proven track record of achieving impactful results for our clients and fostering a culture…
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Court halts Corporate Transparency Act
A federal court in Texas has issued an injunction preventing the enforcement of the Corporate Transparency Act and Beneficial Ownership Information (BOI) reporting until the case is resolved. Melanie Lauridsen, Vice President of Tax Policy & Advocacy for the American Institute of CPAs (AICPA), stated: “The AICPA has closely monitored recent developments in the courts…
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Protect your tax returns with IP PIN
The IRS is urging taxpayers to enhance their protection against identity theft by enrolling in the Identity Protection Personal Identification Number (IP PIN) program for the upcoming 2025 tax season. Over 10.4m taxpayers currently utilize the unique six-digit IP PIN, which is essential for verifying identity during tax filing. IRS Commissioner Danny Werfel stated: “This…
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U.S. services sector continued to expand through November
U.S. services activity continued to expand in November, albeit at a slower pace, as demand slowed and firms registered concerns about the consequences of President-elect Donald Trump’s policies, including promised tariffs. The Institute for Supply Management’s index of services dropped 3.9 points, the first decline since June, to 52.1, remaining above the 50-mark separating expansion…
