The Treasury Department finalized rules for a major clean energy tax cut Wednesday.
The credit, extended by the 2022 Inflation Reduction Act, is a potential boon for offshore wind, geothermal, energy storage and other sectors. It’s in effect for projects that begin construction before Jan. 1, 2025, at which point the current energy tax code is overhauled with two “tech-neutral” clean energy perks passed in the IRA.
“The Inflation Reduction Act has given clean energy project developers clarity and certainty to undertake major investments and produce new clean power to meet growing electricity demand,” Deputy Treasury Secretary Wally Adeyemo said in a statement. “Today’s announcement will help lower consumers’ utility bills, strengthen U.S. energy security, and create good-paying jobs.”
Panama on Thursday lashed out at the European Union for keeping the country on its tax haven blacklist despite its efforts to crack down on tax evasion. President Jose Raul Mulino said he had asked
The European Commission (EC) has no right to impose restrictions on EU Member States’ citizenship-by-investment (CBI) policies, according to an Advocate General of the Court of Justice of the European
The U.K.’s economic secretary to the Treasury, Bim Afolami, said the government’s priority is improving the payments landscape and providing regulatory clarity for digital assets and blockchain.
Amid a higher debt burden, U.K. should not be considering pre-election tax cuts, forecaster says. The International Monetary Fund advised Chancellor Jeremy Hunt against additional tax cuts in its annual