Samruk Kazyna Corporate Transformation is Set to Generate an Additional $11bn in Revenues to Kazakhstan in the Next Six Years

The energy sector is shrinking so dramatically that it's become the second-smallest group in the whole S&P index.

Ronny Gal of Sanford C. Bernstein says he thinks remdesivir will not be the most significant revenue contributor for Gilead Sciences over time. He also explains his rationale for raising the company's price target to $75 from $72.

During the Labor Day holiday that ran from May 1 to May 5 this year, China recorded tourism revenue of 47.56 billion yuan ($6.79 billion), down nearly 60% from last year, according to the Ministry of Culture and Tourism.

"When the transactions are completed, the additional liquidity alleviates management's concern about the Company's ability to continue as a going concern for the next 12 months," Norwegian said in a statement Wednesday.

Apple did not issue guidance for the quarter ending in June, as it usually does. The company withdrew guidance for its second-quarter in February as the Covid-19 coronavirus spread in China.

Citing uncertainty due to the coronavirus pandemic that's shuttered much of the dine-in restaurant industry around the world, the company suspended its full-year forecast.

The drugstore chain's stores have remained open as an essential retailer during the coronavirus pandemic, and it's also opened drive-thru testing sites.

The New York Times Company said it expects advertising revenue to fall between 50-55% year-over-year in the second quarter as impacts of the pandemic are hitting demand for advertisers. But the media company, which gets two-thirds of its revenue from subscriptions, said it added more than half a million net new digital subscriptions.

CNBC's Deirdre Bosa reports quarterly earnings from Lyft.

Brent Thill, managing senior analyst at Jeffries and Rohit Kulkarni, analyst at MKM Capital, join "Closing Bell" to discuss markets.

CNBC's Diana Olick reports quarterly earnings from Zillow.

Quarterly revenue—at $17.8 billion—headed up $348 million on an annual basis. But, despite the revenue gain, volume declined, falling 2.3% to 34,013 total pieces, and total operating expenses—at $22.3 billion—were up$2.8 billion, or 14.2%.

The Maharashtra government collected more than Rs 62 crore revenue in two days of liquor sale after relaxations in COVID-19 lockdown were announced, said a senior official on Tuesday. The amount was collected by the excise department by Tuesday night with just one third of the total number of liquor shops in the state remaining open, he said. An estimated 16.10 lakh litres of bottled IMFL, beer, wines and country liquor were sold, he said.

The state has over 10,000 licensed shops that sell country liquor, IMFL, wine and beer of which merely 3,500 operated on Monday and Tuesday, he said. The long queues of tipplers outside liquor outlets led to the excise department recording an estimated revenue of Rs 62.55 crore by Tuesday night, he said. Of this, Rs 11 crore was collected on Monday, the day one of liquor sale, the official said. Following relaxations in lockdown norms, long queues of tipplers were seen outside standalone liquor shops on Monday in various parts of Maharashtra though authorities in some districts decided not to permit alcohol sale.

All liquor shops were closed ever since a national lockdown was imposed across the country on March 25 to halt the spread of coronavirus. The lockdown was extended till May 17, but standalone liquor shops were permitted to operate as part of relaxations by the state government. There are 10,822 license holders in the state of which 3,543 opened for business. The long queues outside every shop have now reflected in states coffers with the sale of an estimated 16.10 lakh litres of bottled IMFL, beer, wines and country liquor.

"The estimated earnings from the sale stood at Rs 62.55 crore, said Kantilal Umap, state excise commissioner. There are 17 districts (out of total 36) in Maharashtra where liquor shops remained open. Collectors in nine districts have decided not to permit opening of liquor shops to avoid the spread of the coronavirus infection. Two districts - Osmanabad and Latur - had opened shops but due to crowding, the authorities immediately ordered their closure.

There are five other districts where liquor shops were not opened but the authorities are working out a plan to allow them to operate in the coming days. Maharashtra has three dry districts - Wardha, Gadchiroli and Chandrapur.

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South Africa is to launch an inquiry into the reasons behind a shortfall in tax revenue collections.

The Canada Revenue Agency is to collaborate with an association of tax preparation and software firms to improve the digital services it provides to taxpayers.

Last year, the tax burden in OECD countries reached its highest level recorded, at 34.2 percent of gross domestic product, up 20 basis points on 2016, largely due to increasing taxes on personal consumption and companies.

During a February 13, 2020, webcast, the OECD presented economic analysis on the potential impact of what it has proposed on international tax reform to address the digitalization of the economy.

Last year, the tax burden in OECD countries reached its highest level recorded, at 34.2 percent of gross domestic product, up 20 basis points on 2016, largely due to increasing taxes on personal consumption and companies.

The Irish Revenue has updated its guidance on the impact on relief claims of the late filing of corporate tax returns, in the context of the coronavirus pandemic.

HVS ANAROCK spoke about ancillary revenues in early 2019 and the concept of focusing on Revenue Per Square Feet at our HOPE conference again in Bengaluru in August last year - thus, initiating a dialogue with the industry on the concepts of Total Re...

The tax-to-GDP ratio in Sweden decreased by 0.5 percentage points from 44.4% in 2017 to 43.9% in 2018. The corresponding figure for the OECD average was a slight increase of 0.1 percentage point from 34.2% to 34.3% over the same period.

The tax-to-GDP ratio in Spain increased by 0.7 percentage points from 33.7% in 2017 to 34.4% in 2018. The corresponding figure for the OECD average was a slight increase of 0.1 percentage point from 34.2% to 34.3% over the same period.

The tax burden in Switzerland increased by 0.2 percentage points from 26.9% to 27.1% in 2013. The OECD average was an increase of 0.4 percentage points from 33.7% to 34.1%. The Swiss standard VAT rate is 8%, which is one of the lowest standard VAT rates in the OECD and considerably below the OECD average. The average VAT/GST standard rate in the OECD was 19.1% on 1 January 2014

The tax-to-GDP ratio in Switzerland decreased by 0.5 percentage points from 28.4% in 2017 to 27.9% in 2018. The corresponding figure for the OECD average was a slight increase of 0.1 percentage point from 34.2% to 34.3% over the same period.

Tax revenues in African countries are rising as a proportion of national incomes, according to the inaugural edition of Revenue Statistics in Africa. In 2014, the eight countries covered by the report - Cameroon, Côte d’Ivoire, Mauritius, Morocco, Rwanda, Senegal, South Africa and Tunisia - reported tax revenues as a percentage of GDP ranging from 16.1% to 31.3%.

This country note for South Africa provides detailed information on the evolution of the tax-to-GDP ratio since 2000, the structure of tax and non-tax revenues in 2017, and a comparison of the tax-to-GDP ratio as well as non-tax revenues as percentage of GDP with 26 African countries. Main results are also compared with the three regional averages (African (26), LAC and OECD).

The tax burden in Slovenia increased by 0.3 percentage points from 36.5% to 36.8% in 2013. The OECD average was an increase of 0.4 percentage points from 33.7% to 34.1%. The Slovenian standard VAT rate is 22%, which is above the OECD average. The average VAT/GST standard rate in the OECD was 19.1% on 1 January 2014.

The tax-to-GDP ratio in Slovenia increased by 0.1 percentage point from 36.3% in 2017 to 36.4% in 2018. The corresponding figure for the OECD average was a slight increase of 0.1 percentage point from 34.2% to 34.3% over the same period.

The tax burden in the Slovak Republic increased by 1.5 percentage points from 28.1% to 29.6%, the third highest rise amongst member countries in 2013. The OECD average was an increase of 0.4 percentage points from 33.7% to 34.1%. The Slovak standard VAT rate is 20%, which is above the OECD average. The average VAT/GST standard rate in the OECD was 19.1% on 1 January 2014.

The tax-to-GDP ratio in the Slovak Republic did not change between 2017 and 2018. The tax-to-GDP ratio remained at 33.1%. The corresponding f gure for the OECD average was a slight increase of 0.1 percentage points from 34.2% to 34.3% over the same period

The tax burden in Portugal increased by 2.2 percentage points from 31.2% to 33.4, the largest rise amongst member countries in 2013. The OECD average was an increase of 0.4 percentage points from 33.7% to 34.1%. The Portuguese standard VAT rate is 23%, which is well above the OECD average. The average VAT/GST standard rate in the OECD was 19.1% on 1 January 2014.

The tax-to-GDP ratio in Portugal increased by 1.0 percentage points from 34.4% in 2017 to 35.4% in 2018. The corresponding figure for the OECD average was a slight increase of 0.1 percentage point from 34.2% to 34.3% over the same period.

The tax burden in Poland increased by 0.3 percentage points from 31.8% to 32.1% in 20121. The OECD average was an increase of 0.4 percentage points from 33.3% to 34.7%. The Polish standard VAT rate is 23%, which is well above the OECD average. The average VAT/GST standard rate in the OECD was 19.1% on 1 January 2014.

The tax-to-GDP ratio in Poland increased by 0.9 percentage points from 34.1% in 2017 to 35.0% in 2018. The corresponding figure for the OECD average was a slight increase of 0.1 percentage point from 34.2% to 34.3% over the same period.

The tax burden in Norway declined by 1.5 percentage points from 42.3% to 40.8%, the largest fall amongst member countries in 2013. The OECD average was an increase of 0.4 percentage points from 33.7% to 34.1%. The Norwegian standard VAT rate is 25%, which is considerably above the OECD average. The average VAT/GST standard rate in the OECD was 19.1% on 1 January 2014.

The tax-to-GDP ratio in Norway increased by 0.2 percentage points from 38.8% in 2017 to 39.0% in 2018. The corresponding figure for the OECD average was a slight increase of 0.1 percentage point from 34.2% to 34.3% over the same period.

The tax burden in the United States of America increased by 1percentage point from 24.4% to 25.4% in 2013. The OECD average was an increase of 0.4 percentage points from 33.7% to 34.1%. The United States is the only OECD country that employs a retail sales tax rather than a value added tax (VAT) as the principal consumption tax.

Drought in California has been in the headlines frequently these last three years, with startling pictures of empty reservoirs, rivers and canals, wildfires, disappearing snowpack and dry earth. Yet these dramatic effects have not stopped the agricultural sector from growing.

The tax-to-GDP ratio in the United States decreased by 2.5 percentage points from 26.8% in 2017 to 24.3% in 2018. The corresponding figure for the OECD average was a slight increase of 0.1 percentage point from 34.2% to 34.3% over the same period.

The tax-to-GDP ratio in the United Kingdom increased by 0.2 percentage points from 33.3% in 2017 to 33.5% in 2018. The corresponding figure for the OECD average was a slight increase of 0.1 percentage point from 34.2% to 34.3% over the same period.

The tax burden in New Zealand declined by 0.9 percentage points from 33.0% to 32.1%, the third largest fall amongst member countries in 2013. The OECD average was an increase of 0.4 percentage points from 33.7% to 34.1%. New Zealand’s standard GST rate is 15%, which is below the OECD average. The average VAT/GST standard rate in the OECD was 19.1% on 1 January 2014.

New Zealand's tax-to-GDP ratio was 32.0% in 2017, below the OECD average (34.2%) by 2.2 percentage points, and above the LAC and Africa (21)* averages (22.8% and 18.2%, respectively).

The tax-to-GDP ratio in New Zealand increased by 0.6 percentage points from 32.1% in 2017 to 32.7% in 2018. The corresponding figure for the OECD average was a slight increase of 0.1 percentage point from 34.2% to 34.3% over the same period.

The tax-to-GDP ratio in Canada increased by 0.2 percentage points from 32.8% in 2017 to 33.0% in 2018. The corresponding figure for the OECD average was a slight increase of 0.1 percentage point from 34.2% to 34.3% over the same period.

The tax burden in the Netherlands increased by 0.4 percentage points from 35.9% to 36.3% in 20121. The corresponding figure for the OECD average was an increase of 0.4 percentage points from 33.3% to 33.7%. The Dutch standard VAT rate is 21%, which is above the OECD average. The average VAT/GST standard rate in the OECD was 19.1% on 1 January 2014.

The tax-to-GDP ratio in the Netherlands increased by 0.1 percentage point from 38.7% in 2017 to 38.8% in 2018. The corresponding figure for the OECD average was a slight increase of 0.1 percentage point from 34.2% to 34.3% over the same period.

The tax burden in Turkey increased by 1.7 percentage points from 27.6% to 29.3% in 2013. The OECD average was an increase of 0.4 percentage points from 33.7% to 34.1%. The Turkish standard VAT rate is 18%, which is below the OECD average. The average VAT/GST standard rate in the OECD was 19.1% on 1 January 2014.

The tax-to-GDP ratio in Turkey decreased by 0.5 percentage points from 24.9% in 2017 to 24.4% in 2018. The corresponding figure for the OECD average was a slight increase of 0.1 percentage point from 34.2% to 34.3% over the same period.

The tax-to-GDP ratio in Mexico did not change between 2017 and 2018. The tax-to-GDP ratio remained at 16.1%. The corresponding figure for the OECD average was a slight increase of 0.1 percentage points from 34.2% to 34.3% over the same period