Tax

  1. Apple CEO Tim Cook To Senate Panel: 'We Pay All the Taxes We Owe - Every Single Dollar'

    May 21, 2013 3:42 PM EDT Apple's CEO is disputing assertions by a Senate panel that the company avoids billions of dollars in U.S. taxes by shifting profits to foreign affiliates. Tim Cook testified at a hearing Tuesday by the Senate Permanent Subcommittee on Inves ...

  2. Irving Azoff's Resignation Comes With Tax Benefits, Non-Compete Carve-Outs

    December 31, 2012 10:54 PM EST The paths of the Bush tax cuts and the man who topped Billboard's Power 100 crossed on December 31, 2012: Irving Azoff's resignation from Live Nation gave him cash, stock, the right to manage certain artists such as the Eagles and engage ...

  3. France To Launch Organization To Preserve Local Music

    February 17, 2012 11:41 AM EST French Minister of Culture Frederic Mitterrand has announced the launch of CNM, the French National Center for Music, designed to support local French creativity and diversity in terms of record and concert production. This announcement was largel ...

  4. UK Abolishes Reviled Tax Loophole Undercutting CD, DVD Sales

    November 10, 2011 4:24 PM EST A controversial sales tax loophole that enabled mail-order retailers based in the Channel Islands to sell reduced cost music product to U.K. consumers is to be abolished by the British Treasury. The islands, located near the northern coast of Fran ...

  5. Did Viacom Sell Rock Band Developer Harmonix for $50?

    January 04, 2011 12:00 AM EST File this under "who knows?" but Peter Kafka over at All Things Digital's Media Memo blog is reporting that Viacom sold its Rock Band developer unit Harmonix late last year for as little as $50. Now that's a hook-worthy but som ...

  6. EMI Wins Promo Sales Tax Case

    September 30, 2010 12:00 AM EDT EMI has won a six-year legal battle on VAT (sales tax) charged on promotional CDs in the U.K. Other music companies should lodge a claim with tax officials for refunds on any overpayments, according to tax accountants. The European Court of Justic ...

  7. French Indies Body Laments Govt Music Strategy

    September 17, 2010 12:00 AM EDT French independent labels trade body UPFI has publicly denounced the government's policy measures to support the music sector. In a statement, UPFI stressed that "the measures planned for music unfortunately won't have any significa ...

  8. Sales Tax Hike In U.K. Emergency Budget

    June 22, 2010 12:00 AM EDT The U.K. music industry is to be hit with an increase in V.A.T. (value added tax) from 17.5% to 20%, as the new Conservative and Liberal Democrat coalition government begins to tackle the country's budget deficit. The general increase in the ...

  9. Business Matters: Borders, Lala, Canada's CD Tariff, Buzzmedia, Irving Plaza and More

    June 01, 2010 12:00 AM EDT -- Borders reported a greater operating loss and an improved net loss in the first fiscal quarter ending May 1, 2010. The net loss of $64.1 million was a fair improvement over the $86 million net loss in the previous year’s first fiscal quarter. R ...

  10. Business Matters: New York Times, MXP4, News Corp., Martina McBride and More

    April 22, 2010 12:00 AM EDT -- The New York Times Co., owners of The New York Times and Boston Globe , posted a profit in Q1 2010. The company posted a profit of $12.8 million on revenue of $588 million. National advertising improved. Online revenues grew 15.5% to $90.4 mill ...

  11. Business Matters: Hole, Britain’s Digital Economy Bill and more

    April 07, 2010 12:00 AM EDT -- Hole has a new album coming up and is taking the increasingly popular route of the multi-tiered release. At the band’s web store it is offering three packages. The cheapest is $54.99 for the CD, vinyl LP and cassette USB with album and unreleas ...

  12. MPs Dismiss Radio Industry's 'Double Taxation' Claim

    April 07, 2010 12:00 AM EDT The House of Commons Culture, Media and Sport Committee said it is "not convinced" by arguments made by the commercial radio sector about the impact of the music licensing system in the U.K. Andrew Harrison, chief executive of trade body ...

  13. @MIDEM: Impala Unveils Financial Action Plan For Biz

    January 26, 2010 12:00 AM EST Brussels-based pan-European independent labels body Impala has launched a radical 10-point financial action plan for the music industry. "This is a call for action to national governments, the EC and the music industry," Helen Smith, exe ...

  14. Terra Firma Profits Drop

    January 21, 2010 12:00 AM EST EMI owners Terra Firma's profits dropped 43% in the year to March 2009. Profits fell to £1.87 million ($3 million), while turnover increased slightly from £47.2 million ($76.6 million) to £47.8 million ($77.5 million) According to the Financi ...

  15. President Sarkozy Backs French Digital Strategy

    January 08, 2010 12:00 AM EST France's mission to improve the growth of legal digital services for cultural works has hit the headlines, thanks to its proposal to tax advertising revenues from online giants such as Google to support the creative industries hit by the digi ...

  16. French Indies Body Calls For Digital Tax Credits

    October 09, 2009 12:00 AM EDT French independent labels trade body UPFI has called for the government to introduce a tax credit scheme for consumers buying cultural digital products online. Under this scheme, users would be able to offset part of their purchases, for an amount ...

  17. Reality Of 'Price Discovery' Hitting Publishers

    March 05, 2009 12:00 AM EST With the credit crunch and a difficult economy, those involved in the buying and selling of music copyrights are in a period of “price discovery,” peermusic CFO Bill Gorjance said at the Billboard Music & Money Symposium, held today at the St. ...

  18. Gov. Paterson's Digital Tax Proposal Draws Criticism

    December 18, 2008 12:00 AM EST New York State governor David Paterson's proposal to impose a tax on digital downloads has drawn criticism from some in the music industry. Paterson has proposed a 4% sales tax on downloads of music, ringtones, games, movies and other media f ...

  19. N.Y. May Tax iTunes Downloads, Pay TV

    December 17, 2008 12:00 AM EST Faced with one of the bleakest financial pictures in memory, New York Gov. David Paterson on Tuesday released a $121 billion proposed budget that would hit the entertainment industry and consumers in the pocketbook. The budget would tax digital do ...

  20. HMV Passes On Sales Tax Cut

    November 25, 2008 12:00 AM EST U.K market leading entertainment retailer HMV has pledged to pass on the new 15% rate of VAT sales tax, which the British government announced in its pre-budget report. The VAT (Value Added Tax) rate will be cut from 17.5% to 15% from Dec. 1 for a ...

  21. Plugged & UnPlugged: Crue Fest, Download Tax

    April 17, 2008 12:00 AM EDT Plugged Lots of music festivals have second stages. Adding one for the Rock Band videogame during Crüe Fest is just brilliant. I have good memories of Motley Crüe concerts from my high school days: Tommy Lee's drum set vomiting pyrotechnics w ...

  22. Handleman Nets $17.7M Loss For Quarter

    August 29, 2007 12:00 AM EDT Although the Handleman company reported a 14% increase in first-quarter sales, the Troy, Mich.-based company posted a wider loss this year due to taxes. For the three-month period that ended July 28, Handleman reported a net loss of $17.7 million, ...

  23. Sacem Posts Collections Decline

    June 29, 2007 12:00 AM EDT French authors rights society Sacem has reported collections of 755.9 million euros ($1.02 billion) in the financial year ending Dec. 31, 2006, a decrease of 0.2% on 2005. "This is the first time since 1992 that collected revenue decreases fr ...

  24. Impala, IFPI Welcome Italy's Music Tax Breaks

    January 05, 2007 12:00 AM EST The Italian government's newly adopted law providing tax breaks for small music companies has been welcomed by the music industry. Patrick Zelnik, president of independents' trade group Impala, said the legislation -- coming on the heels ...

  25. EU Extend Rules On Download VAT

    November 28, 2006 12:00 AM EST The European Union finance ministers today (Nov. 28) extended rules for charging value-added-tax on digital downloads until the end of 2008. The European Union finance ministers today (Nov. 28) extended rules for charging value-added-tax on digita ...

  26. EC Makes Case For Extension On Digital VAT Rules

    November 24, 2006 12:00 AM EST The European Commission has called for a two-year extension for the European Union's value-added-tax rules on digital downloads and broadcasting, when they expire at the end of this year. The rules are contained in the EU's 2002's e ...

  27. EC Makes Case For Extension On Digital VAT Rules

    November 24, 2006 12:00 AM EST The European Commission has called for a two-year extension for the European Union's value-added-tax rules on digital downloads and broadcasting, when they expire at the end of this year. The European Commission has called for a two-year exte ...

  28. Tax Credit Scheme Talk Heats Up

    September 25, 2006 12:00 AM EDT U.K. trade body the BPI has entered the debate on tax breaks for labels. In a statement issued today (Sept. 25), the London-based industry organization called on its government to extend a tax credit U.K. trade body the BPI has entered the debate ...

  29. The Publishers' Place

    May 22, 2006 12:00 AM EDT Songwriters with valuable catalogs may want to delay any sale until next year. A new law is likely to go into effect Jan. 1 that may substantially reduce songwriters' federal tax liability. Read Susan Songwriters with valuable catalogs may wa ...

  30. Commission OKs French Music Subsidies

    May 17, 2006 12:00 AM EDT The European Commission today (May 17) gave the green light to a tax break for French music producers. The European Commission today (May 17) gave the green light to a tax break for French music producers. The Commission -- the European Union' ...

  31. France Introduces Tax Credits Scheme

    January 24, 2006 12:00 AM EST The French government is planning to introduce tax credit schemes that will benefit record labels. The system would allow labels to offset part of their recording costs through a tax deduction. It is The French government is planning to introduce ...

  32. Amazon.com Net Income Dips In Q2

    July 27, 2005 12:00 AM EDT Company hit with more taxes due to profitability. Amazon.com released its quarterly earnings report July 26 which revealed a jump in sales, but a dip in net income from the same period the previous year, primarily due to taxes. For most of the com ...

  33. Sacem Revenues Post Limited Growth in 2004

    June 24, 2005 12:00 AM EDT Income from mechanical rights dropped 24%. French authors rights society Sacem collected in 2004 € 726.5 million ($ 881 million), a 2.5% increase over 2003. Sacem distributed € 578.1 million ($ 701 million) to its members, € 300 000 ($ 363 800) mo ...

  34. Borders Online Must Pay Cal. Use Tax

    June 07, 2005 12:00 AM EDT A California Court of Appeal held May 31 that Borders Online must pay a use tax to the State Board of Equalization for online sales to California customers. NEW YORK -- A California Court of Appeal held May 31 that Borders Online must pay a use ta ...

  35. EU Ignores CD VAT Issue

    May 17, 2005 12:00 AM EDT Calls by the music industry for a cut in value-added-tax rates on CDs were ignored May 12 by European Union government representatives gathering in Brussels. BRUSSELS -- Calls by the music industry for a cut in value-added-tax rates on CDs were ig ...

  36. EU Overlooks CD VAT Issue

    May 12, 2005 12:00 AM EDT As expected, calls by the music industry for a cut in value-added-tax rates on CDs were ignored today (May 12) by European Union government representatives gathering in Brussels. As expected, calls by the music industry for a cut in value-added-ta ...

  37. EU Overlooks CD VAT Issue

    May 12, 2005 12:00 AM EDT As expected, calls by the music industry for a cut in value-added-tax rates on CDs were ignored today (May 12) by European Union government representatives gathering in Brussels. As expected, calls by the music industry for a cut in value-added-ta ...

  38. EU VAT Debate To Overlook CD Issue

    May 11, 2005 12:00 AM EDT European Union government representatives will be denied the chance to debate lowering value-added-tax on CDs when they meet tomorrow (May 12) to discuss a new compromise on general VAT rates. European Union government representatives will be deni ...

  39. Amazon Sales Up In First Quarter

    April 26, 2005 12:00 AM EDT Profits down without tax benefit. While Amazon's overall sales were up 24.3% to $1.9 billion for its fiscal first quarter ending March 31, profits fell compared to the first quarter in 2004, when the company received a tax benefit. Amazon pos ...

  40. Germany Zeros In On Media Funds

    April 19, 2005 12:00 AM EDT German media funds, the tax shelter financing tool that pumped $1.7 billion into mainly Hollywood productions last year, soon could be history as the German government fast-tracks plans to close tax l CANNES, France (The Hollywood Reporter) -- Ger ...

  41. Canada Shifts On Tax Credits

    April 05, 2005 12:00 AM EDT Canada's tax department said March 31 that it will deny about CAN$140 million ($114.7 million) in deductions claimed by a popular tax shelter for investments in U.S. movies shot here in 2001. TORONTO (The Hollywood Reporter) -- Canada's ...

  42. B.C. Raising Film Prod'n Tax Credits

    January 25, 2005 12:00 AM EST The British Columbia government will hike the film production tax credit from 11% to 18%, matching Ontario's new level, finance minister Colin Hansen said Jan. 19. VANCOUVER (The Hollywood Reporter) -- The British Columbia government will hik ...

  43. Behind the Deal: "Soft Money" Film Financing

    November 09, 2004 12:00 AM EST French producer Philippe Carcassone, whose 40-plus feature films include "L'Homme Du Train" and "Read My Lips," was among the presenters at a film-financing seminar presented by the Entertainment Prac French producer Phili ...

  44. Corporate Tax Bill Pleases Entertainment Industry

    October 19, 2004 12:00 AM EDT Record labels and independent film producers applauded congressional approval of a $136 billion corporate tax package that cuts taxes for businesses ranging from film companies to bow-and-arrow makers WASHINGTON, D.C. -- Record labels and independ ...

  45. Record Biz Poised For Major Tax Relief

    October 13, 2004 12:00 AM EDT New bill could save labels $400M in annual taxes. New bill could save labels $400M in annual taxes. News ...

  46. Record Biz Poised For Major Tax Relief

    October 13, 2004 12:00 AM EDT New bill could save labels $400M in annual taxes. The record industry stands to reap the benefits of the end-of-session corporate tax-cut bill that was passed by Congress on Monday (Oct. 11). Under the legislation, "The American Jobs Creation ...

  47. Spain Supports Lower VAT Rate On Music

    April 30, 2004 12:00 AM EDT Spain has pledged to reduce its value added tax (VAT) on record music to 4% from 16%, new culture minister Carmen Calvo said during a media gathering Friday in Madrid. Spain has pledged to reduce its value added tax (VAT) on record music to 4% fro ...

  48. UK Film Biz Eyes Tax Break

    March 22, 2004 12:00 AM EST The U.K. plans to rejig tax breaks for filmmakers in a move that paves the way for producers to directly benefit from the changes. LONDON--The U.K. plans to rejig tax breaks for filmmakers in a move that paves the way for producers to directly ben ...

  49. International Acts Liable For Taxes Under New U.K. Rule

    March 22, 2004 12:00 AM EST International acts who perform in the U.K. will likely face stricter tax liability, following a recent High Court ruling concerning American tennis great Andre Agassi. LONDON--International acts who perform in the U.K. will likely face stricter ta ...

  50. Senator Introduces Bill To Benefit Songwriters

    February 26, 2004 12:00 AM EST Sen. Jim Bunning, R-Ky., today (Feb. 26) introduced the Senate version of the Songwriters Capital Gains Tax Equity Act. The bill amends the Internal Revenue Service Code to allow songwriters to claim Sen. Jim Bunning, R-Ky., today (Feb. 26) introd ...

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