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Join Stephen Foley, FT's U.S. accounting editor with deep insights into corporate financial strategies, and Amanda Chu, energy analyst specializing in clean hydrogen. They discuss the staggering $250 billion in corporate taxes at stake due to the upcoming U.S. election and the contrasting futures facing major corporations. The conversation pivots to the clean hydrogen industry, grappling with stalled projects and collapsing share prices, underlining the significant investment challenges ahead.
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- China's push for wealthy taxpayers to settle unpaid taxes aims to alleviate fiscal pressures amid a financial crisis.
- The upcoming US election could shift corporate tax policies, with $250 billion at stake depending on the elected candidate's stance.
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China's Quest for Increased Tax Revenue
China is currently urging wealthy individuals and corporations to reassess their tax obligations as local governments face significant financial pressures. This push for higher tax contributions comes in response to dwindling revenue sources exacerbated by the ongoing property crisis, leaving many local authorities in dire need of funds. This initiative coincides with Beijing's plans to unveil new stimulus measures, including the largest fiscal package the country has proposed since the pandemic began. By targeting affluent taxpayers, the government aims to recuperate financial stability while also addressing the immediate fiscal needs at the local level.
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