Date

Fri - 22.09.2017


tax

On November 23 last year the Finnish parliament approved a government proposal to apply 9% VAT to newspaper and magazine subscriptions, which were previously exempt from the tax.

Today the European Journalism Centre has published an article about how the new tax, which came into effect at the beginning of this year, has affected Finnish newspapers.

In a nutshell, it's been tough for journalists. The EJC magazine reports that 100 media workers have already been laid off as a direct consequence of the new tax. 200 more jobs are on the line.

The tax has been controversial, partly because of the way Finnish politician Kimmo Sasi, who argued for the imposition of the new tax, spoke out against the media: "The members of the press tend to be a bit arrogant. They think: "We can write whatever we want about politicians, and they will have to dance to our music. Luckily the majority of the Parliament is not going to accept this," quotes the EJC.

Author

Hannah Vinter

Date

2012-01-30 18:44

Shares of Dogan Yayin - Turkey's largest media group - sank today following denials of its sale to a German publisher despite a rising tide on the Istanbul Stock Exchange, Reuters reported today. Trading in the security also was suspended briefly on the basis of the rumour, Reuters India reported.

Author

Leah McBride Mensching

Date

2009-11-10 16:32

Cost cutting and a tax adjustments have helped newspaper publisher McClatchy Co. in its third-quarter earnings, at a time when its advertising revenue has plunged, The Associated Press reported.

The publisher of The Miami Herald and 29 other dailies had its Shares up in the quarter, as investors believed that the toughest time of the recession were over for the newspaper industry.

The company's quarterly profit improved from US$4.2 million, or 5 cents a share, one year ago, to $23.6 million, or 28 cents per share, according to the AP article posted on Google News.

However, some of the big profit increases resulted from a tax rate adjustment. Excluding one-time gains, McClatchy would have earned $11 million, or 13 cents per share, versus $10.4 million, also 13 cents per share, in the same period last year on a comparable basis. McClatchy's revenue was down 23 percent to $347 million, and its advertising downturn did not slow down much in the third quarter. McClatchy's ad sales were down 28 percent in the third quarter after a 30 percent drop in the first half of the year.

"The advertising declines we've experienced show some signs of slowing, but the ad environment remains weak overall," McClatchy CEO Gary Pruitt said in a statement.

On a positive note, online advertising rose 3 percent year-over-year, the AP reported.

Author

Erina Lin

Date

2009-10-15 19:18

Independent Kazakh newspapers are faced with a temporary stop to printing as their major printing press has been closed in order to be tax probed, the Taiwan News reported Friday.

Authorities raided and closed the Kometa-S printing press earlier this week under the premise of tax evasion. The Kometa-S plant prints the Independent newspaper Respublika, and the publications for the Azat and Alga opposition movements. All printing has been postponed while the investigation proceeds. Respublika labelled the raid an act of intimidation to force the papers closure.

Author

Leah McBride Mensching

Date

2009-09-25 18:24

Argentine President Cristina Fernandez has accused Grupo Clarin of biased reporting and is now backing reforms she says will help modernise the media industry. However, other groups have said her goal is to cripple Clarin, Argentina's largest media company and publisher of the daily newspaper Clarin, the BBC reported Friday.

On Thursday, more than 200 tax inspectors searched the Clarin newspaper's Buenos Aires offices. Officials dubbed the raid "routine," while the newspaper said it was "harassment" from the government.

"There are no more doubts about what the bill's aims are. It's meant to damage an economic group and not to help citizens," Deputy Julian Obiglio, head of the center-left PRO party in the lower house, said in a statement, according to Momento 24.

Grupo Clarin spokesman Martin Etchevers told a local TV station that the raid made it clear Clarin is being targeted, saying "this kind of inspection has never occurred in the history of Clarin," Momento 24 reported.

Author

Leah McBride Mensching

Date

2009-09-11 22:06

The Turkish government has fined media companies owned by publisher Dogan Yayin Holding, which operates more than half of the country's non-government media market, Reuters reported Tuesday.

The fines total 3.76 billion lira (US$2.53 billion) for unpaid taxes. They are in addition to the $500 million the publisher was fined earlier this year for "tax irregularities" having to do with its selling a 25 percent stake to Germany-based publisher Axel Springer. Dogan said the fines are the government's way of getting back at the publisher for reporting that has criticised the country's politics.

The International Press Institute has reported the fines signal "fresh concerns about media freedom in Turkey," and that the Dogan Media Group has been a target of Turkish Prime Minister Recep Tayyip Erdogan, who has asked his supporters to boycott Dogan and other newspapers. In February, government supporters physically attacked journalists.

"This fine which is far exceeding the cost of the Dogan entity itself, cannot be considered as a penalty. This is direct seizure and clearing off/liquidating a media organisation," Ferai Tinc, chairman of the IPI National Committee in Turkey and foreign editor and columnist for Hürriyet, said in a statement, according to the IPI.

Author

Leah McBride Mensching

Date

2009-09-08 17:37

A campaign to increase readership of the Zimbabwean has been awarded for its billboard advertisements which were printed on Zimbabwe's paper money the Media Guardian reported.

The Zimbabwean, which has been critical of Robert Mugabe's politics, intended the campaign to call attention to the grim state of affairs in the country. Slogans appearing on the posters included, "It's cheaper to print this on money than on paper", "Thanks to Mugabe this money is wallpaper," and "Z$250,000,000 cannot buy the paper to print this poster on."

The ads also bring attention to the financial state of the newspaper, which is forced to pay a 55 percent "luxury import" tax in order to bring the paper, which is published in the UK and South Africa, into Zimbabwe. Due to soaring prices, the paper has engaged is seeking alternative sources of funding through sales in other countries.

The ads, which are the brain child of the South African TBWA/Hunt/Lascaris/Johannesburg agency, were awarded the Cannes Lions Grand Prix award for outdoor advertising.

Author

Leah McBride Mensching

Date

2009-06-24 13:35

Newspapers in the U.S. state of Washington have been granted a tax break by Governor Chris Gregoire, the Seattle Times reported Wednesday. Printers and publishers will receive a 40 percent tax cut from the state's principal business tax.

The new law grants the ailing newspaper industry a tax break similar to that given to Boeing Co. and the timber industry in recent years. The legislative break marks one of the first examples of government-based support for the newspaper industry in the United States.

Author

Leah McBride Mensching

Date

2009-05-13 22:14

Washington state legislature endorsed a bill on Sunday that gives newspapers a 40 percent cut on the state's business and occupation tax until 2015, The Associated Press reported Sunday.

The bill was passed through the Senate with an overwhelming 46-2 majority. The bill passed through the House last month and is now forwarded on to Gov. Chris Gregoire.

The bill is a rescue attempt for newspapers in the state of Washington that have been taking massive cost cutting measures, including pay cuts, buyouts and freezing pension and retirement plans, in the midst of the recession and its consequential advertising decline, the AP reported in an article posted by the Seattle Times.

The state's biggest victim was the Seattle Post-Intelligencer, which closed its print edition last month. It now is online-only.

Author

Leah McBride Mensching

Date

2009-04-27 13:12

As newspapers around the United States continue to close their doors, cut staff, pages and wages, the industry in Washington state may receive relief as the House has approved a tax break for newspapers, The Associated Press reported Tuesday.

The House backed the bill in a vote of 91-5 on Tuesday night. It now moves to the Senate for consideration. If passed, the bill would cut state business tax for newspapers by 40 percent through 2015.
"We are starting to lose the ears and the eyes on government, on all kinds of things in our society," said the bill's prime sponsor, House Majority Leader Lynn Kessler, a Democrat, according to the AP article, posted by the Seattle Times.

The 40 percent tax cut is similar to breaks given to the Boeing Co. and the timber industry in recent years in Washington. Kessler said the cut would mean around US$1.5 million a year in lost tax revenue for the state.

Author

Leah McBride Mensching

Date

2009-03-11 18:30

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