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Such a system would let U.S. companies bring home foreign profitstax-free.
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At present, airlines paid the standard 36 per cent corporation profitstax.
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It now pays forty-four per cent after deducting the excess profitstax.
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He said the windfall tax looks exactly like a U.S. excess profitstax.
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The offshore profitstax repatriation holiday addressed an unusual situation.
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Six days ago individual income taxes were reduced and the excess profitstax expired.
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ACCA's Roy-Chowdhury said legal challenges to the new diverted profitstax would still be possible.
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The law will also introduce a windfall profitstax.
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I have it from good authority, Friedlander & Sons doubled their excess- profitstax last year.
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What is an excess profitstax?
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According to Current Affairs, the Democrat also proposed comprehensive child-care coverage, a corporate profitstax and dismantling large tech companies.
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MINING Abbott has promised to scrap a controversial 30 percent profitstax imposed on major coal and iron ore mines.
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In her victory speech on Sunday, Lam pledged to follow through on her promise to introduce a two-tier profitstax.
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John Freebairn from Melbourne University also challenged the notion that the original super profitstax would have sent jobs off-shore.
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Opposition leader Tony Abbott opposes the plan for a 30 percent profitstax on big coal and iron ore mines.
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If the opposition takes over it would scrap Gillard's proposed mining profitstax and a $38 billion telecoms project.