Latest news with #Section174
Yahoo
3 days ago
- Business
- Yahoo
US retailers support Trump-era tax break bill to boost stability
Retailers across the United States have welcomed tax provisions outlined in the Senate GOP's newly proposed budget bill, describing them as critical steps toward long-term economic stability and investment planning. The Senate Finance Committee, led by Republican Senator Mike Crapo of Idaho, introduced the bill this week. Key elements include the permanent extension of several business tax deductions and the preservation of the current corporate tax rate—moves the retail industry says will help protect jobs and encourage domestic investment. Permanent tax breaks welcomed by industry leaders Central to the bill are three provisions that industry groups have long supported: the 100% bonus depreciation on equipment purchases, the Section 174 R&D amortisation fix, and the EBITDA-based Section 163(j) interest deduction. These measures, if passed into law, would allow businesses to deduct more of their capital and research spending from taxable income. David French, Executive Vice President of Government Relations at the National Retail Federation (NRF), said these tax changes 'enable retailers to continue to invest in their employees, stores and supply chains, and the communities they serve.' French also praised the Senate leadership for providing 'long-term certainty for American businesses and families.' Retailers argue that making these tax breaks permanent is particularly beneficial for mid-sized and large firms that rely on frequent reinvestment in logistics, storefront upgrades and digital infrastructure. Corporate tax rate stability a key concern The bill maintains the 21% corporate tax rate introduced under the 2017 Tax Cuts and Jobs Act. Retailers had raised concerns over a potential increase once current provisions expire at the end of 2025. In response, French said the legislation would 'protect against the $4 trillion tax hike that businesses face' and help alleviate economic pressures that have built up over recent quarters. Maintaining the existing rate is seen by many in the sector as essential to ensuring that U.S. retail companies remain competitive globally. Retailers have also argued that a predictable tax landscape improves their ability to plan hiring, expansion, and innovation efforts—particularly in an environment still recovering from supply chain disruptions and inflation-related challenges. Impact on investment and job creation The NRF stated that the Senate bill 'strengthens incentives for domestic investment' and would support job creation across the country. Retailers contribute an estimated $5.3 trillion to annual GDP and support roughly 55 million US jobs, making the sector one of the largest private employers in the economy. Though some analysts warn that broader implications of the bill—including its effect on federal revenue and long-term deficits—require further scrutiny, the retail industry is calling for quick legislative progress. 'We strongly support measures that maintain the competitive 21% corporate tax rate,' French said. 'This bill alleviates some economic headwinds and strengthens incentives for domestic investment.' As discussions move forward in Congress, industry representatives have signalled they will continue to engage with lawmakers to ensure tax policy supports both businesses and consumers. Navigate the shifting tariff landscape with real-time data and market-leading analysis. Request a free demo for GlobalData's Strategic Intelligence . "US retailers support Trump-era tax break bill to boost stability" was originally created and published by Retail Insight Network, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
IOL News
6 days ago
- IOL News
Survivors urge Ministry of Justice to expedite extradition process
Iain Wares, 85, accused of multiple sexual assaults. Image: File Gender-based violence organisations are preparing to write to the Ministry of Justice and Constitutional Development, and the National Prosecuting Authority (NPA), calling for no more delays in the trial against 85-year-old former SA teacher, Iain Wares, who is wanted by UK authorities on 74 counts of the sexual assault of young boys. This comes after arguments were presented last week in the Wynberg Magistrate's Court during the Section 174 application, in which Wares' legal team earlier called for the charges against him to be dismissed. Judgment in the application has since been reserved to August 7. Women and Men Against Child Abuse (WMACA) said they were also calling on the Ministry of Justice and Constitutional Development to finalise the long-overdue fourth extradition warrant submitted by the British High Commission in October 2024. 'After years of waiting, survivors hoped for progress today. Instead, they are left in limbo once again,' said Miranda Jordan, founding director of WMACA. 'The arguments are in. The evidence has been led. But justice continues to stall." Wares is also appealing his extradition. Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Advertisement Next Stay Close ✕ Ad loading The local case involves a victim dubbed 'Stephen', who took the witness stand last year where he told of the indecent assault Wares allegedly inflicted on him. The 47-year-old SA victim broke the silence claiming he was abused by Wares who was his teacher at Rondebosch Boys Preparatory during 1988. Wares is facing one count of indecent assault, which allegedly took place in Rondebosch in 1988 and is accused of indecently assaulting a male victim between the age of 12 and 13 years old, by touching his buttocks and penis and rubbing his penis up against the victim. The victim's wife earlier took the stand as the State closed its case, in which she revealed how her husband broke his silence after seeing Wares on television. Wares initially made a written affidavit of admissions to having inappropriate urges to touch boys and to sexually abusing them but it was retracted with the claim that he had been ill-advised. The extradition involves allegation of former students of Wares in the UK who are all now beyond the age of 60 and that the incidents of apparent sexual and physical abuse took place between the 1960s and 1970s at schools such as Edinburgh Academy and Fettes College. Get your news on the go, click here to join the Cape Argus News WhatsApp channel. Cape Argus
The Citizen
12-06-2025
- The Citizen
State triumphs as court rejects Section 174 application
The Pretoria High Court, sitting in the Benoni Magistrate's Court, dismissed a Section 174 application brought by accused one, former commanding officer Major Leon Louis Van Den Berg (75), and accused two, former sergeant Abraham Hercules Engelbrecht (61). The pair sought to be discharged from the charges against them on the grounds that the State had no case. The two, along with their co-accused, former sergeant Pieter Stander (60), face a murder charge for allegedly killing student activist and Congress of South African Students (COSAS) member Caiphus Nyoka. It is alleged that on the evening of August 23, 1987, the three men — members of the SAPS Reaction Unit — met to plan Nyoka's killing. Under the command of Major Van Den Berg, a plan was devised to raid Nyoka's home. Also Read: 1987 Daveyton murder: Investigator details how he traced apartheid-era cops In the early hours of August 24, 1987, at about 02:30, Stander, Engelbrecht, and other Reaction Unit members, who are also charged separately, arrived at Nyoka's homestead and stormed his room. They found Nyoka and three friends asleep. After identifying him, they removed the others from the room and shot him nine times. He died on the scene from multiple gunshot wounds. The State called five witnesses during the trial: Nyoka's sisters, Alegria and Mothasi Nyoka; Exodus Nyokane, one of Nyoka's friends present that night; Dr Rousseau, an expert witness and TRC researcher; and the investigating officer, Lieutenant Colonel Beukman. Mahanjana said the court dismissed their application, and thereafter, Van Den Berg opted to remain silent and closed his case. The matter was postponed to September 8–19 for the defence case of Engelbrecht and Stander. The case against former Reaction Unit member Johan Marais (65), who pleaded guilty and was convicted of the same offence, will return to court for sentencing proceedings on June 5 and 6. Mahanjana described the court's decision as encouraging, noting that the State had overcome a significant hurdle in the defence's attempt to halt the trial. Also Read: Slain Caiphus Nyoka honoured at wreath-laying ceremony At Caxton, we employ humans to generate daily fresh news, not AI intervention. Happy reading!
The Citizen
23-05-2025
- The Citizen
Court dismisses bid to drop charges in 1987 student activist Nyoka's murder case
The court rejected claims of no evidence in the case of apartheid-era officers accused of murdering Caiphus Nyoka in 1987. The Pretoria High Court sitting in Benoni has rejected claims of no evidence in the case of two former apartheid-era officers accused of murdering student activist Caiphus Nyoka in 1987. The court ruled that there is enough evidence to proceed with the trial of two ex-officers accused of killing the Congress of South African Students (COSAS) member and student activist. This follows a Section 174 application brought under the Criminal Procedure Act 51 of 1977 by former commanding officer Major Leon Louis Van Den Berg (75) and former Sergeant Abraham Hercules Engelbrecht (61). The two, along with former Sergeant Pieter Stander, 60, are facing a murder charge in connection with Nyoka's death. Nyoka gunned down According to the allegations, the three members of the South African Police Service's Reaction Unit got together on the evening of 23 August, 1987 to plot Nyoka's murder. Van Den Berg allegedly led the planning of a raid on his residence. National Prosecuting Authority (NPA) regional spokesperson Lumka Mahanjana said at around 2am on 24 August, 1987, Stander, Engelbrecht, and other Reaction Unit members – who are also charged separately – arrived at Nyoka's home and broke into his room. ALSO READ: NPA reopens inquests into Chief Albert Luthuli and Griffiths Mxenge's deaths 'They found him sleeping with three of his friends. After identifying him, they removed the friends from the room and thereafter proceeded to shoot him nine times,' Mahanjana said. Nyoka died on the scene from multiple gunshot wounds. Trial proceedings During the trial, the state called five witnesses, including Nyoka's sisters Alegria and Mothasi Nyoka and one of his three friends who were present on the night of the incident, Gugulakhe Exodus Nyokane. The court also heard testimony from expert witness Dr Nicky Rousseau, a Truth and Reconciliation Commission (TRC) researcher, and the investigating officer, Lieutenant Petrus Colonel Beukman. After five witnesses testified, the state closed its case. Accused application dismissed 'Thereafter accused number one (Van Den Berg) and two (Engelbrecht) brought a section 174 application claiming that the state had no case,' Mahanjana said. ALSO READ: Ramaphosa launches commission of inquiry into apartheid-era justice delays 'After the court dismissed their application, accused number three (Stander) opted to remain silent and closed his case.' The court has postponed the matter to 8 to19 September for the defence cases of Engelbrecht and Stander. Sentencing The sentencing proceedings for Johan Marais, 65, a former member of the Reaction Unit 6 in Dunnottar who was prosecuted and found guilty of the same offences, have been rescheduled for 5 to 6 June. 'This court outcome is encouraging as the state overcomes the first hurdle that was presented by the defence in order to prevent the trial from proceeding,' Mahanjana concluded. 'The state will continue to put forward a formidable case to ensure that justice is served against such atrocities of the apartheid era.'
Eyewitness News
22-05-2025
- Eyewitness News
2 former apartheid officers' bid to get off the hook for Caiphus Nyoka murder fails
PRETORIA - The latest bid by two former apartheid police officers to get off the hook for the murder of student activist Caiphus Nyoka has failed in the Pretoria High Court. Judge Ismail Mohammed delivered the judgment on Thursday morning. ALSO READ: Sixty-three-year-old Abram Engelbrecht, 62-year-old Pieter Stander, and 75-year-old Leon van den Berg, who were members of the reaction unit of apartheid police, are accused of shooting the student activist multiple times in his Daveyton home. In 2024, a fourth accused, Johan Marais, pleaded guilty and is yet to be sentenced. Lawyers for van den Berg and Engelbrecht brought a Section 174 discharge application this week, arguing that the State had no evidence against them that could lead to a conviction. Mohammed delivered his verdict but did not give a comprehensive judgment. 'Having heard counsel, the court is of the view that the application for a discharge in terms of Section 174 of the Criminal Procedure Act should be refused.' Mohammed said he would be incorporating the full judgment, detailing the reasons for his ruling in the final overall judgement in the matter. That means the defence will now have to open its case and call its witnesses.
