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Illinois manufacturing group frustrated by law regarding pre-judgement interest


by Kevin Bessler, The Center Square
 | June 03, 2021 12:00 PM
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A new Illinois law that allows for plaintiffs to collect pretrial interest on money awarded in some civil suits is causing concern among manufacturers and health care providers.
Governor J.B. Pritzker signed SB72 into law last week after vetoing a previous version in March. Pritzker said he did not support a previous version of the bill because its rate of 9% interest was significantly higher than other states. The new version puts the rate at 6%.
Prejudgment interest would not apply to state and local governments, school districts, community colleges and other government entities or consumer debt, nor would it apply to settlements. ....

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5 Tips to Keep a Landscaping Project on Time, Under Budget


5 Tips to Keep a Landscaping Project on Time, Under Budget
Annie Millerbernd, NerdWallet
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This article was first published on NerdWallet.com.
Fresh landscaping can add a personal touch to a new home or spice up a backyard where you’ll host happy reunions.
But if you’re just getting into the planning phase, a DIY landscaping project may be the way to go this year.
Pandemic-prompted supply chain snags for materials like lumber and increased demand from homeowners in the last year mean landscape professionals are booked months or even a year out, says Kathy Valentine, president of the Michigan-based horticulture firm The Plant Professionals. ....

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Conflict of interest in FBR Policy Board member's appointment


Conflict of interest in FBR Policy Board member’s appointment
Top Story
June 2, 2021
LAHORE: The federal government appointed Senator Dilawar Khan as member of the Federal Board of Revenue (FBR) Policy Board in glaring conflict of interest as he is owner and an executive director of one of the local big tobacco companies and successfully lobbied and played vital role in bringing down the advance FED tax on Green Leaf – a measure taken by the government to control tax evasion in cigarettes manufacturing.
The appointment is made on the nomination by Senate Chairman Sadiq Sanjrani after Senator Mirza Muhammad Afridi became Senate’s deputy chairman, who was previously nominated for the position on the Board. The FBR Policy Board is an important platform in policy making especially for broadening the tax base, controlling the tax evasion and other tax facilitations and increasing revenue generation measures. The FBR Policy Board also plays vital role in making d ....

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Finance Ministry notifies amendment in GST law for levying interest on net cash liabilty w.e.f July 1, 2017


Ministry notifies amendment in GST law for levying interest on net cash liability
June 02, 2021
Taxpayers who have already paid interest on gross liability can seek refund
The Finance Ministry notified amendment in Central Goods and Services Tax (CGST) Act to facilitate charging of interest on net cash (tax) liability, retrospectively. To ensure smooth implementation, States will also be required to amend the State Goods and Services Tax (SGST) Act and notify at the earliest.
Experts feel that such a notification will give a big relief to assessees. Net cash liability is arrived at after deducting input tax credit from gross GST liability. Tax is deposited along with returns within the prescribed timeline. After the prescribed date, the assessee is required to pay interest on cash liability. ....

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