share. Abu Dhabi: The UAE pledged to increase oil production to 3.5 million barrels per day to meet energy demand by 2017 as Abu Dhabi International Petroleum Exhibition and Conference (Adipec) got under way in Abu Dhabi on Monday.bdullah Nasser Al Suwaidi, director-general of Adnoc, said that it will increase crude oil production capacity to 3.5 million barrels per day by 2017. âWe reaffirm our commitment to meet growing global demand for energy.â.
Contributions which do not exceed the annual exclusion amount (now $13,000 per donee per year) are not implicated since, even if they are subject to gift tax, they are specifically excluded. However, contributions exceeding $13,000 each year to a social welfare organization may risk a gift tax. If gift tax is imposed on contributions to social welfare organizations which exceed the $13,000 annual exclusion, there may be some potential defenses.
The 2016 election season is in full swing, and candidates on both sides are reaching out every day to their supporters for campaign contributions. Though giving money to your candidate of choice is a great way to get involved in civic discourse, political donations are not tax deductible. According to the IRS: You canât deduct contributions made to a political candidate, a campaign committee, or a newsletter fund. Advertisements in convention bulletins and admissions to dinners or programs that benefit a political party or political candidate arenât deductible. This includes Political Action Committees (PACs), as well. While you canât write off campaign contributions, you can set aside $3 of your taxes to go to the Presidential Election Campaign Fund on your 1040 federal income tax return.