Source: Adobe/Fotokon While central governments continue to buzz about the how, when, and why of crypto taxation and regulation, some provincial governments have decided to go it alone, especially in the Basque Country, Spain. The Independent reported that the three main western provinces of the Basque Country – Gipuzkoa, Biscay and Álava – will try […]
Tax laws
Portugal to change its crypto tax laws – is Gibraltar the alternative?
For several years now, Portugal has been attracting many founders and investors to the crypto space with its Golden Visa and its treatment of crypto which is currently that crypto winnings are not taxed on the grounds that they are not legal tender . In a bid to level the playing field with investors in […]
Ghana: Unilateral tax laws violate taxpayers’ rights to fair administration
Problematic tax legislation is causing irreparable damage to exporters’ cash flow and the local economy, as one-sided anti-taxpayer laws continue to stifle growth and deter foreign investors. According to Ernest Lai King, managing director of 1Road Consulting and consultant to law firms, deficiencies in the Value Added Tax (VAT) law regarding VAT audits have led […]
New Tax Laws in Puerto Rico Are Attracting Crypto Influencers
4,000 companies relocated to Puerto Rico Puerto Rico hosted cryptocurrency conferences and set up beginner courses for locals to learn the basics The island is prone to many natural disasters, for example Hurricane Maria The most recent Times article calls Puerto Rico one of the most memorable digital currency networks in the world. Are they […]
The new tax laws for nonprofit organizations will put them in a constant state of anxiety.
Some of the changes made through Budget 2022, which have profound and serious implications for the nonprofit sector, have gone largely unnoticed. If the part of the economy that receives foreign funding has been squeezed by regulation in recent years, now is the time for domestic groups to feel the heat as well. Some of […]
Unilateral tax laws violate taxpayers’ rights to fair administration
Problematic tax legislation is causing irreparable damage to exporters’ cash flow and the local economy, as one-sided anti-taxpayer laws continue to stifle growth and deter foreign investors. Shortcomings in the country’s Value Added Tax (VAT) law regarding VAT audits have resulted in the endless withholding of VAT refunds, violating taxpayers’ constitutional rights to fair administration. […]
Russia to Include Cryptocurrencies in Updated Tax Laws
Russia to Include Cryptocurrencies in Updated Tax Laws New Tax Rules Could Make or Break the Way for Wider Crypto Adoption in Russia By Shashank Bhardwaj Image: Shutterstock Jhe federal government of Russia would have proposed a bill in the State Duma (lower house of the Russian parliament) establishing rules for the taxation of cryptocurrency […]
WazirX establishes its headquarters in Dubai to escape India’s heavy tax laws
WazirX establishes its headquarters in Dubai to escape India’s heavy tax laws WazirX moved its headquarters to Dubai due to heavy tax laws. India has issued a 30% crypto tax and 1% tax deductions on crypto exchanges. Dubai is a hub for cryptocurrency innovators and influencers with relaxed digital asset trading laws. WazirX, India’s largest […]
Market enabler tax laws have arrived, as has “build versus buy”
Now that market enabler tax laws are in place in the US, EU and a growing number of countries around the world, the question remains as to how these platforms can actually achieve tax compliance at scale. What new technologies and services can online marketplaces adopt to meet new consumer tax obligations? While the policies […]
The Wayfair Decision: How Technology Is Changing State Tax Laws | Bowditch and Dewey
The decision of the Supreme Court of the United States in South Dakota vs. Wayfair, Inc. 138 S.Ct. 2080 (2018) has changed the way businesses think about state tax compliance. In Wayfair, the Court upheld a South Dakota sales tax law that required out-of-state online sellers to sell goods or services worth more than $100,000 […]
The Wayfair Decision: How Technology Is Changing State Tax Laws
E-commerce, Taxes • By Sandra F. O’Neill • April 13, 2022 The decision of the Supreme Court of the United States in South Dakota vs. Wayfair, Inc. 138 S.Ct. 2080 (2018) has changed the way businesses think about state tax compliance. In Wayfair, the Court upheld a South Dakota sales tax law that required out-of-state […]
‘Al Capone’ tax laws proposed to fight tax evasion
Billy Begas House Ways and Means Committee Chairman Joey Salceda has called for the passage of “Al Capone” tax laws, or laws that will impose stiffer penalties on people who have committed tax evasion. Salceda said he will study the enactment of tax laws that would impose much higher taxes on illegally apprehended accrued income […]
Solon says it might be time to review tobacco tax laws and anti-smuggling measures
BoC A SOLON said on Thursday it might be time to reassess the country‘s tobacco tax law alongside government review‘s against smuggling. “Is there an overtaxation, to the point where we actually reward the smugglers, because of the huge taxation?” PBA party slate representative Jericho Jonas B. Nograles said in a mix of English and […]
EU challenges tax laws in Germany and Spain
By Todd Buell (April 6, 2022, 11:23 a.m. EDT) — The European Union’s executive arm on Wednesday challenged tax laws in Germany and Spain, saying that part of Germany’s withholding tax law and the Spanish tax payment system violates EU law. The European Commission has announced that it is sending a formal notice to Germany […]
EU challenges tax laws in Germany and Spain
By Todd Buell (April 6, 2022, 11:23 a.m. EDT) — The European Union’s executive arm on Wednesday challenged tax laws in Germany and Spain, saying that part of Germany’s withholding tax law and the Spanish tax payment system violates EU law. The European Commission has announced that it is sending a formal notice to Germany […]
New tax laws for investments in 2022
Colorado revised its state tax code in 2021, and many of the changes will impact investors. Additionally, the federal government has adjusted various tax laws in response to inflation and the pandemic, so the tax landscape may be quite different from a year ago. Read on to learn how the changes affect Colorado investors, business […]
Appleton restaurant owner pleads guilty to violating federal tax laws | USAO-EDWI
United States Attorney Richard G. Frohling announced that on March 25, 2022, Paul R. Vanderlinden (age: 42) of Appleton, Wisconsin pleaded guilty in federal court in Green Bay to deliberately filed a false tax return and failed to honestly account for and pay payroll taxes to the Internal Revenue Service. According to court documents, Vanderlinden, […]
Appleton restaurant owner pleads guilty to violating tax laws and ‘skimmed’ $800,000
APPLETON, Wis. (WFRV) – The owner and operator of a pizzeria in Appleton has pleaded guilty to violating federal tax laws by skimming earnings to pay employees “under the table.” Court filings show that Paul Vanderlinden, 42, pleaded guilty to violating federal tax laws. He pleaded guilty to willfully filing a false tax return and […]
Only CAs and lawyers benefit from current income tax laws: Chidambaram | Latest India News
Former finance minister P Chidambaram on Monday urged the government to replace the existing income tax law with the direct tax code and cast doubt on projections for nominal GDP growth of 11.2%, claiming that the war in Ukraine has blocked supply chains and that certain sectors have seen a sharp rise in prices. Taking […]
New North Carolina tax laws allow for better returns for HOAs
CHARLOTTE, NC, March 27, 2022 /24-7 PressRelease/ — Some North Carolina residents who belong to a homeowners association (HOA) may find themselves with tax law issues. Some of these questions may be whether or not the HOA should file taxes, how they are affected by state franchise and income taxes, is their association exempt, and […]
The best cryptocurrencies are trading today; Parliament Passes Tough Crypto Tax Laws
Business oi-Roshni Agarwal | Posted: Friday March 25th 2022, 10:01 PM [IST] The major cryptocurrencies in trade today (March 25, 2022) at the time of writing were trading in a mixed fashion. Bitcoin, the largest m-cap crypto, rose almost 1% to $44,301, while Ether also traded 0.7% to $3,132.
Clarifying amendments to Indian tax laws: back taxes in disguise?
Proposed changes can provide clarity and certainty for the future Every year, the announcement of the Union budget is eagerly awaited as one of the key tax policy events in India. This year was no different. The 2022 Union budget saw a series of proposed amendments aimed at ending ongoing litigation on certain issues in […]
New 2022 U.S. P2P Tax Laws Simplified
Peer-2-peer (P2P) payment applications, also known as money transfer apps or mobile wallets such as Paypal, Venmo or Cashapp, are popular online payment platforms for businesses – they are convenient, easy to use and very efficient ways to transfer money. However, with new regulations, the use of P2P payment applications for commercial transactions will be […]
FBR Explains Discount Under Sales Tax Laws
ISLAMABAD: The Federal Board of Revenue (FBR) has explained the payment discount related to invoices issued via Point of Sale (POS) by Tier 1 retailers. The FBR explained through a official note of March 17, 2022 this discount has been authorized in the form of price reduction in seasonal sales / sales and the cash […]
“CAs are facilitators in compliance with tax laws”
CA Satish Sarda, CA Dinesh Rathi, CA Rajender Arora, CA Akshay Gulhane, CA Sanjay C Agrawal, CA Kailash Jogani, CA Trupti Bhattad, CA Jiten Saglani, Chairman, CA Swaroopa Wazalwar, CA Abhijit Kelkar, CA Ajay Vaswani, CA Deepak Jethwani and CA Saket Bagdia at the seminar. Business office: ICAI’s WIRC NAGPUR Branch recently hosted a Finance […]
There is a general tendency to look for loopholes in tax laws: Secretary of Finance
There is a general tendency to look for loopholes in tax laws: Secretary of Finance Bangalore, 07 Mar (UNI) Noting that industry has a role to play in reducing tax disputes in the country, Union Finance Secretary TV Somanathan said on Monday that there is a general trend in the country to leave no loophole […]
FG points to flawed tax laws for reforms | The Guardian Nigeria News
The Nigerian government has stated that some of the provisions of personal tax laws in the country need reform. The Attorney General of the Federation (AGF) and Minister of Justice, Abubakar Malami, who revealed this on Tuesday in Abuja at a national stakeholder workshop on tax law reforms, said reform is key to the continuing […]
February 2022 review: the tax laws you need to know
While you focus on your business, we stay on top of legislative and policy changes that may affect your tax compliance. Should online sellers be required to accept cash payments? Can you use zip codes to determine tax rates? This month’s roundup covers these topics and more. Read on for more details. Cash, please. Shopping […]
Did you know that there are tax laws applicable to freelancers?
Did you know that there are tax laws applicable to freelancers? By Lynnet Okumu / Posted on February 28, 2022 | 1:55 p.m. KEY POINTS A freelancer is someone who works on a contract basis for multiple companies, rather than working as an employee for a single company. KEY POINTS TO REMEMBER If you have […]
New Tax Laws, IRS Loopholes Highlighted in Randolph by Roxbury Accountant | Reporter Randolph News
RANDOLPH TWP. – Accountant Ron DeFilippis doesn’t care much about the IRS. However, it is an organization he has worked with and has known inside and out for over 40 years. The Roxbury resident and Mount Arlington-based accountant, spoke to the Randolph Area Chamber of Commerce at the Randolph Diner on Thursday, February 17. Incoming […]
Time to simplify direct tax laws – The New Indian Express
Income tax laws are complex in the country because over the years the government – in order to induce certain categories of people, companies and economic activities – has granted several exemptions and proposed tax rates. special taxation. Despite the government’s many attempts to simplify direct taxes, little has been done in this direction. It […]
Income from PF contribution above Rs 2.5 Lakh limit to be taxable from 1 April
Our network sites House > video gallery The new rule of non-taxable contributions will be useful for taxpayers to calculate their taxes and will also help to separate taxable and non-taxable contributions. To […]
Azerbaijan amends tax laws relating to CFCs, tax havens and transfer pricing – Tax
To print this article, all you need to do is be registered or log in to Mondaq.com. This update appeared at: https://mnetax.com/azerbaijan-amends-tax-laws-relating-to-cfcs-tax-havens-transfer-pricing-46405 The Azerbaijani government has made significant changes to the Tax Code, which will come into force on January 1, 2022. These changes include measures focused on combating tax evasion and broadening the tax […]
Texas Business Tax Laws – Why They’re Attractive:
For a decade, Texas has led the charge in the United States in terms of job creation, economic development and business formation. About 3 million small businesses have been established in the Lone Star State, making it a hotspot for entrepreneurial talent and new business establishments. With so many entrepreneurs moving to Texas from states […]
Court judgment on VAT confirms the need for tax laws – PwC
NAIROBI, Kenya, February 21 – PricewaterhouseCoopers (PwC) says the recent High Court decision which rendered the Value Added Tax Regulations 2017 void and affirmed that tax laws must be validly enacted and enforced. In a tax alert dated February 2022, PwC states: “Tax law must be validly enacted and enforced. Non-compliance with what creates an […]
Deciphering the changes made to the laws on direct taxation
Following the deadlock over the Farm Bills that led to their withdrawal, Finance Minister Nirmala Sitharaman was expected to make a host of new proposals in the Union budget to win them back. In fact, the budget makes it clear that the government is keen on fixing the structural problems in agriculture (which the farm […]
Tax laws must be validly enacted and enforced
Tax laws must be validly enacted and enforced By Soko Directory Team / Posted on February 19, 2022 | 10:28 KEY POINTS The appeal related to a case in which the KRA was ordered by the Tax Appeal Tribunal to pay WEC Kenya Kshs 6.4 million in VAT refunds. KEY POINTS TO REMEMBER KRA further […]
Reviews | These tax laws “make us all look down on”
Congratulations, road warrior. Last year, you did business in five states in one week – emails from airports, phone calls from taxis, video conferences from hotel rooms, business lunches here and there. Later, when you took a vacation in another state, you opened your laptop from time to time to connect with your colleagues. Now […]
Tax laws made complicated by exemptions need to be simplified: Tarun Bajaj
There is a need to simplify the direct tax laws as various exclusions or exemptions announced each year have complicated them, said Revenue Secretary Tarun Bajaj. “The direct tax code has also become more complicated, a lot of exemptions, a lot of provisions have come in so I think there needs to […]
How Tax Laws Contribute to America’s Racial Wealth Gap (Video)
Homepage ” Politics ” How Tax Laws Contribute to America’s Racial Wealth Gap (Video) Posted By: XYZ Social News February 7, 2022 Many financial experts say the US tax code contributes to the persistent racial wealth gap in the country. Emory University law professor Dorothy A. Brown joins CBS News’ Tanya Rivero and Tony Dokoupil […]
Lawmakers Introduce Bill to Improve Crypto Tax Laws – Here’s How It Would Make Consumers’ Lives Easier
Weedezign/Getty Images/iStockphoto Legislation reintroduced in Congress last week by a bipartisan group of lawmakers aims to change the way cryptocurrency purchases are taxed and help clear up some of the confusion over how to account for certain crypto transactions on your tax returns. income. See: Taxes 2022 — Questions About Your Crypto Purchase to Ask […]
A music teacher reacts to the tax laws of third-party organizations
AKRON, Ohio — After starting his own business during the pandemic, a music-loving man is now gearing up for a big change in the way small business owners accept payments. Music is an art, according to Jeff Klemm, is part of who he is. He started his first band at age 14. When he was […]
Lawmakers Introduce Bill to Improve Crypto Tax Laws – Here’s How It Would Make Consumers’ Lives Easier
Weedezign/Getty Images/iStockphoto Legislation reintroduced in Congress last week by a bipartisan group of lawmakers aims to change how cryptocurrency purchases are taxed and help clear up some of the confusion over how to book some crypto transactions on your tax returns. To see: Taxes 2022 – Questions about your crypto purchase to ask an accountant […]
New set of tax laws for 2022 – Taxation
To print this article, all you need to do is be registered or log in to Mondaq.com. In an attempt to revive the economy after the COVID crisis, the government has made changes to laws aimed at accelerating economic development. The following proposed changes to tax legislation are expected to come into force in January […]
El-Sisi ratifies amendments to VAT and stamp duty laws
ArabicFinance: Egyptian President Abdel Fattah El-Sisi has ratified amendments to the Value Added Tax (VAT) and stamp duty laws, Enterprise reported, citing the Egyptian Official Gazette. Under the amendments, advertisements on television, radio, as well as billboards and online advertisements will be subject to 14% VAT, replacing the 20% stamp duty, to which they were […]
New Jersey Governor Murphy Signs New Sports Betting Tax Laws
New Jersey Sports Betting Tax Update On Jan. 18, New Jersey Governor Phil Murphy signed a bill that provides tax breaks on credits used to entice players to brick-and-mortar casinos and online operators tied to them in the state. Promotional game credits available for taxation include credits, chips or other incentives that entice players to […]
January 2022 review: the tax laws you need to know
While you focus on your business, we stay on top of legislative and policy changes that may affect your tax compliance. As real-world online sellers face a wave of train robberies and online marketplaces struggle to prevent the sale of stolen goods, a growing number of businesses are moving into the metaverse. This month’s roundup […]
Karla Dennis, Registered Tax Agent, Sheds Light on New 2022 Tax Laws
Residents react to rising crime in WeHo 2 hours ago Biden’s spending package includes funds for… 3 hours ago Doordash cares about high gas prices (sort of) 3 hours ago Ukrainian refugee crisis 7 hours ago Airlines are taking advantage of travel demand, increasing… 7 hours ago CHP officers under surveillance after video shows… 16 […]
Seeking harmonization of income tax laws with the insolvency code
The Insolvency and Bankruptcy Code (IBC) has been in force for over 5 years now and has, overall, been successful legislation. However, as expected, given that the IBC is a relatively new law, there have been teething problems resulting from a lack of synchronization with other laws such as tax laws. For example, to reduce […]
New Tax Laws 2022: Getting Paid on Venmo or Cash App? This new tax rule may apply to you
If you use payment apps like Venmo, PayPal, or CashApp, the New Year has introduced a change to an IRS tax reporting rule that may apply to some of your transactions. The new rule, which went into effect Jan. 1, imposes no additional tax on payment app users. But it makes it harder for someone […]
New Tax Laws 2022: Getting Paid on Venmo or Cash App? This new tax rule may apply to you
If you use payment apps like Venmo, PayPal, or CashApp, the New Year has introduced a change to an IRS tax reporting rule that may apply to some of your transactions. The new rule, which went into effect Jan. 1, imposes no additional tax on payment app users. But it makes it harder for someone […]
Ramaphosa has approved new tax laws for South Africa – 5 key changes you need to know
President Cyril Ramaphosa has approved several tax changes for South Africa by signing into law the Currency Rates and Amounts Act and Revenues Amendment Act, the Taxation Act Amendment Act (TLAA) and the Taxation Amendment Act (TLAA). Tax Administration Act (TALAA). In an analysis of the changes, Jean du Toit, head of tax techniques at […]
VAT reduced to 7% under changes to Laos tax laws – Taxation
Lao People’s Democratic Republic: VAT reduced to 7% under changes to Laos tax laws January 03, 2022 Tilleke & Gibbins To print this article, simply register or connect to Mondaq.com. During the last week of December 2021, the Ministry of Justice published the law amending certain provisions of tax laws No. 01 / NA, dated […]
New Medical Marijuana Income Tax Laws Come Into Effect In Louisiana At The Beginning Of The New Year | News
BATON ROUGE, Louisiana – Louisiana’s medical marijuana program will offer raw cannabis to its patients to smoke, and the state will change its income tax calculations as more than two dozen new laws come into effect. force Saturday with the start of the new year. Most of the new laws were passed in the ordinary […]
New Medical Marijuana and Income Tax Laws Take Effect in Louisiana Early in the New Year | Legislature
Louisiana’s medical marijuana program will offer raw, smokable cannabis to its patients, and the state will change its calculations for state income taxes as more than two dozen new laws go into effect Saturday with the start of the new year. Most of the new laws were passed during the regular legislative session that lawmakers […]
Two Chinese phone makers break tax laws, face $ 134 million fine, India News News
Two Chinese smartphone makers operating in India could be fined 10 billion rupees (around $ 134 million) for violating a tax law relating to the non-disclosure of transactions with associated companies. On December 21, the Income Tax Department conducted search and seizure operations across India after receiving intelligence regarding certain foreign-controlled mobile communication and mobile […]
New abortion, police and tax laws take effect in the United States
Minimum wage increases, animal welfare, police liability, tax cuts and increases are all part of a slew of new laws that will take effect across the country on Saturday, the first day. from 2022.. Some of the laws such as abortion restrictions in New Hampshire or the police reform measures passed in Illinois, Oregon and […]
‘Demon Slayer’ studio accuses working conditions of violating tax laws
by Keane Eacobellis Following the conviction of the president of animation studio Ufotable, Hikaru Kondo, earlier this month, the Japanese news site Daily ShinchÅ detailed the statements of the company founder as to why he committed a crime. tax evasion. âWe always end up in the red,â Kondo said of the studio’s work on popular […]
The CII proposes consistency of tax laws among measures aimed at stimulating manufacturing competitiveness
No more news Dec 26 2021 | 9:08 am New Delhi, Dec. 26 (UNI) Fuel prices remained stable while gasoline and diesel prices remained unchanged on Sunday. see more.. Dec 25 2021 | 8:23 p.m. New Delhi, December 25 (UNI) RBL Bank announced on Saturday that the banking sector regulator, the Reserve Bank of India […]
Tax law amendments proposed for IMF $1 billion tranche – Journal
ISLAMABAD: With an annual revenue impact of over Rs 350 billion, the Federal Board of Revenue (FBR) is seeking changes to the three main tax laws relating to customs, sales tax and income tax , in addition to the Service Tax Act for the Federal Capital to meet International Monetary Fund (IMF) “prerequisites” of securing […]
Azerbaijan changes tax laws on CFCs, tax havens, transfer pricing – MNE Tax
By Leyla Safarova, Senior Partner, BM Morrison Partners, Azerbaijan The Azerbaijani government has made significant changes to the tax code, which will come into force on January 1, 2022. The changes include measures focused on combating tax evasion and broadening the tax base, including new ones rules on controlled foreign companies (SEC) and transfer pricing […]
How New Tax Laws Can Impact the Hospitality Market: Are You Ready?
While all industries were affected during the pandemic, none may have suffered devastation like the hospitality market. Now, widespread vaccine deployments have contributed to a sense of optimism (tinged with caution), and yet, even as occupancy rates begin to rise, the resurgence of the hospitality industry faces other threats. A number of proposed tax laws […]
Buhari toughens tax laws
There may be strict rules in how Nigerians operate bank accounts, starting next year. The 2021 Finance Bill, an executive bill forwarded to the National Assembly by President Muhammadu Buhari, if enacted, will make the presentation of the Tax Identification Number (TIN) mandatory before the opening a bank account. The President of the Senate, Ahmad […]
Changes to agricultural tax laws expected in the Build Back Better bill
With ranchers, farmers and businessmen juggling the fallout from the pandemic, supply shortages and rising costs, there is another ball that can be thrown on the circus scene: the modifications. federal taxes. President Biden and the Democrats have proposed several federal tax changes that would affect the agriculture industry and small businesses. Some of these […]
Albanian government announces new changes to tax laws – Taxation
Albania: Albanian government announces new changes to tax laws November 30, 2021 Eurofast To print this article, simply register or connect to Mondaq.com. The Albanian Minister of Finance presented the 2022 budget package to the Parliamentary Assembly of Economy and Finance. The main laws that will be affected by the changes included in the 2022 […]
Appropriateness of the stamp duty value of the property under income tax laws
In order to arrive at the fair market value of the home ownership, you can either take the stamp duty calculation rates if available, or get a certificate of appraisal from a registered appraiser. In order to fill the gaps in real estate transactions and avoid litigation, the Income Tax Department compares the valuation of […]
How it is treated under income tax laws
I am an employee in a private hospital. My salary is directly credited to the bank account. I also get cash for vouchers as allowances. I want to know how to manage this money given to me as compensation? Can I display it in my ITR? What is its tax treatment? Answer: Any compensation paid […]
Keep an eye out for: Agricultural Tax Law Changes Expected in the Build Back Better Bill
With ranchers, farmers and businessmen juggling the fallout from the pandemic, supply shortages and rising costs, there is another ball that can be thrown on the circus scene: the modifications. federal taxes. Some lawmakers have proposed several federal tax changes that would affect the agriculture industry and small businesses. Some of them were eliminated from […]
Smart Tax Law Drafting – Journal
The government promulgated the Presidential Ordinance – the Tax Laws (Third Amendment) Ordinance 2021 – on September 15, providing for certain enforcement measures aimed at improving documentation of the national economy, improving tax compliance and broaden the tax base. Although it became law and has been in force since then, it has a limited lifespan […]
Tax Laws Ordinance 2021 (Third Amendment): Senate body rejects most provisions
ISLAMABAD: The Standing Senate Committee on Finance rightly rejected most of the provisions of the Tax Laws Ordinance 2021 (Third Amendment), including the mandatory requirement for the corporate sector to switch to digital payment at from December 1, 2021. While reviewing the Tax Laws (Third Amendment) Order of 2021, here Thursday in the House of […]
Government to change tax laws in budget to tax cryptocurrency earnings
NEW DELHI: The government is considering changes to tax laws to bring cryptocurrencies under the tax net, with some changes that could be part of next year’s budget, a senior official said. Revenue Secretary Tarun Bajaj said that in terms of income tax, some people already pay capital gains tax on income from cryptocurrency, and […]
Cryptocurrency Gains May Be Taxed As Government Plans To Change Tax Laws In Budget
The Union government plans to change income tax laws to bring cryptocurrencies under the tax net, with some changes that could be part of next year’s budget, the revenue secretary said. Tarun Bajaj at the news agency. PTI. Bajaj said that in terms of income tax, some people already pay a capital gains tax on […]
Cryptocurrency: Government to change tax laws in budget to tax cryptocurrency earnings
New Delhi: The government is considering changes to income tax laws to bring cryptocurrencies into the tax net, with some changes that could be part of next year’s budget, a senior official has said. Revenue Secretary Tarun Bajaj said that in terms of income tax, some people already pay capital gains tax on cryptocurrency income, […]
how Irish tax laws collide with the new reality
Eamon Lafferty’s journey to work from his home in Donegal to his office in Northern Ireland would normally take him across a barely noticeable border between an EU state and the UK. Aside from a subtle change in road markings and signs displayed in miles to the north rather than kilometers to the south, there […]
Tax Laws Ordinance 2021 (Third Amendment): Senate body rejects most provisions
ISLAMABAD: The Standing Senate Committee on Finance rightly rejected most of the provisions of the Tax Laws Ordinance 2021 (Third Amendment), including the mandatory requirement for the corporate sector to switch to digital payment at from December 1, 2021. When reviewing the Tax Laws (Third Amendment) Order of 2021, here Thursday in the House of […]
Keep Innovation In America Act Could Fix New Crypto Tax Laws
A A group of bipartisan lawmakers introduced the Keep Innovation In America law on Thursday. The bill seeks to change the definition of “crypto broker” in the Infrastructure Investment and Jobs Act, enacted earlier this year. The new bill also aims to amend the tax code as well as transactions between brokers and non-brokers. Patrick […]
Businesses Must Navigate Year-End Tax Planning With Potentially New Tax Laws On The Horizon – Tax
The end of the fiscal year is fast approaching for many businesses, but their ability to engage in traditional year-end planning may be hampered by the specter of impending tax legislation. The budget reconciliation bill, dubbed the Build Back Better Act (BBBA), is expected to include provisions affecting corporate taxation – although its passage is […]
How Texas Tax Laws Attract the Rich
Texas is well known as an income tax free haven. This is probably one of the reasons why Tesla CEO and founder Elon Musk, the richest person in the world, decided to move to Tesla headquarters in California, which has income tax on highest in the country, in Austin, Texas. However, that’s not the only […]
Shaukat Tarin launches tax code wording to simplify tax laws – Journal
ISLAMABAD: Financial and tax adviser Shaukat Tarin initiated the formulation of the Internal Tax Code (IRC) with the aim of harmonizing all domestic tax laws and maximizing taxpayer facilitation as part of the government’s initiative on simplification of tax laws. We positively hope that the IRC will be applied from July 1, 2022. The proposed […]
Shaukat Tarin launches initiative on simplifying tax laws
ISLAMABAD – In a decisive development and to put his vision into practice, Shaukat Tarin, advisor to the Prime Minister in charge of finance and revenue, initiated the formulation of the tax code with the aim of harmonizing all domestic tax laws and maximizing facilitation of taxpayers. It promises to ensure the ease of doing […]
Government to harmonize tax laws by merging them into one law book
ISLAMABAD: The federal government has decided to harmonize the four tax laws by merging them into a single collection of laws, a “single rule book”, in order to promote automation and digitization in order to make it easier for taxpayers. According to the details, the Federal Board of Revenue (FBR) has established a high-level committee […]
Is it time to align tax laws with the BoT -TRA guidelines on NPLs
-the portions of the additional tax payable recorded during tax audits. Over the years, financial institutions in Tanzania have witnessed a controversial treatment of written off loans during the unprecedented period of the COVID-19 pandemic, most financial institutions have implemented several measures to combat the expected rapid increase in non-performing loans (NPLs) such as rearrangement […]
Give money now, before estate tax laws end in 2025 – Press Enterprise
The holidays are usually the time to give gifts. But with new tax laws looming, the end of 2021 could see some very extravagant donations. The tax bases of a donation The recipient of a donation does not pay income tax on the donation. However, the donor may pay gift tax unless one of the […]
Remote work: how Irish tax laws collide with the new reality
Eamon Lafferty’s journey to work from his home in rural County Donegal in the Republic of Ireland to his office in Northern Ireland would normally take him across a barely perceptible border between an EU state and the United Kingdom- United. Aside from a subtle change in road markings and signs displayed in miles to […]
Everything you need to know about changes to tax laws that will affect you
The Central Council of Direct Taxes (CBDT) recently issued an ordinance requiring various new financial details to be incorporated into Form 26AS under the Income Tax Act 1961. The new information includes details about foreign remittances, purchases like mutual funds, and more. What is Form 26AS? Form 26AS is a consolidated annual tax return that […]
The bias built into tax laws that puts labor income at a disadvantage
Copyright 2021 NPR. To learn more, visit https://www.npr.org. MICHEL MARTIN, ANIMATOR: You’ve probably heard of this Senate Democrats’ proposal to tax certain billionaire assets to help pay for President Biden’s spending plan. You’ve probably also heard that this was one of the ideas that was not in the compromise announced on Thursday. It was removed […]
The bias built into tax laws that disadvantages income from labor
NPRSaturday, October 30, 2021 Update RequiredTo play audio, update browser or Flash plugin. Copyright 2021 NPR. To see more, visit https://www.npr.org. NPR’s Michel Martin talks with tax law professor and author of The Whiteness of Wealth Dorothy Brown about her thoughts on the Democrats’ proposed billionaire tax. Transcript MICHEL MARTIN, HOST: You probably heard about […]
The bias built into tax laws that disadvantages labor income: NPR
Michel Martin from NPR speaks with a professor of tax law and author of The whiteness of wealth Dorothy Brown on her thoughts on the Democrats’ proposed billionaire tax. MICHEL MARTIN, ANIMATOR: You’ve probably heard of this Senate Democrats’ proposal to tax certain billionaire assets to help pay for President Biden’s spending plan. You’ve probably […]
No change in Congress after all?
For almost a year, various proposals and so-called âframeworksâ have been debated in Congress regarding changes to federal inheritance and gift laws. Almost all would have (i) reduced the amount that individuals could give during their lifetime or bequeath on death before the application of taxes on federal transfers, (ii) eliminated the so-called “hike” base […]
Slovenian Ministry of Finance Seeks Public Opinion on Crypto Tax Laws
Slovenia’s finance ministry has reportedly requested a public consultation on a bill to tax cryptocurrency investments, according to local reports. The ministry’s intention to assess investor sentiment comes nearly a month after the Financial Administration of the Republic of Slovenia proposed a 10% tax on cryptocurrency activities. If enacted under the Slovenian Income Tax Law, […]
Escaping Tax Laws – Journal
ONLY 2.5 million or 35% of the 7.2 million registered taxpayers or NTN holders filed for tax year 2021. This is very poor compliance with tax laws. Despite the government’s claims to take action to widen the narrow tax base, the reluctance to file highlights why the share of income tax – the only direct […]
Escaping Tax Laws – Journal
ONLY 2.5 million or 35% of the 7.2 million registered taxpayers or NTN holders filed for tax year 2021. This is very poor compliance with tax laws. Despite the government’s claims to take action to widen the narrow tax base, the reluctance to file highlights why the share of income tax – the only direct […]
How to stay on top of state tax laws
It is important to follow the tax laws in each state. This blog will talk about some of the most recent changes and how they may affect your business. For starters, it was once possible to set up a business in any state and do business across the country without much hassle. Recently, however, states […]
Retroactive tax laws – but they can’t do it, can they? | Holland & Hart – Fiduciary Law Blog
We all know that a change is likely in the tax regimes governing personal income, gift and inheritance taxes, but what if the change is already there? There are a number of potential effective dates for President Biden’s tax bill, some in the future and some already in the past. The uncertainty of substantial changes […]
FPCCI denounces ordinance on “unfair” tax laws – Journal
KARACHI: The Federation of Chambers of Commerce and Industry of Pakistan (FPCCI) on Monday called “the Tax Laws Ordinance 2021 (Third Amendment)” unfair and called on the government to suspend it until that all stakeholders have been consulted. In a statement, FPCCI President Mian Nasser Hyatt Maggo said the ordinance – which entered into force […]
Tax Laws Ordinance 2021 (Third Amendment): 7 new measures introduced to broaden the tax base
ISLAMABAD: The government introduced seven new measures to broaden the tax base through the Tax Laws (Third Amendment) Ordinance, 2021. Under the new section 114B of the Income Tax Ordinance 2001, the Council will have the power to issue a general income tax ordinance in respect of persons not listed. on the ATL but are […]
India changes telecommunications tax laws to help operators avoid hitting the wall • The Register
India has rewritten some of its telecom laws to make it easier for foreign investment and to reduce huge backward tax bills that threatened to send some operators to the wall. The main structural reform described yesterday by the Indian government involves changes to an Adjusted Gross Income Tax (AGR) of carriers which offers carriers […]
Tax laws for non-resident professional athletes – Taxation
INTRODUCTION High performance athletes who participate in various sports earn millions of dollars in salaries. Just like a normal employee, they have the right to pay their contributions to the government. Earning extraordinary salaries also results in extraordinary tax payments. Cristiano Ronaldo – a top athlete has decided to join Juventus FC, one of the […]
Income tax laws conflict with property tax rules
Federal and state tax laws do not treat coronavirus relief payments as taxable income, but the state has instructed assessors to treat payments as income when calculating a company’s property tax. That contradiction unfolded Thursday before the Garland County Equalization Board, the panel of appointed officials who decide property tax appeals. Parth Patel, president of […]
Immigration laws, more complicated than tax laws
(Lr) Muzaffar Chishti, Principal Investigator, Director, Office of the Migration Policy Institute at NYU Law School; Nicole Ramos, director of the Border Rights project at Al Otro Lado, based in Tijuana, Mexico; Ava Benach, founding partner of Benach Collopy, an immigration lawyer based in Washington DC (Photos: Ethnic Media Services) TL; RD The title says […]
Finland’s tax laws have spawned many Camaro trucks
Photo: Netticar It is strange how much the development, culture and availability of the automobile have been shaped by taxes. In America, we have had a shortage of imported small pickup trucks for years thanks to a tax on chickens, engine displacement taxes in many European countries played a role in the turbocharging boom and […]
Congress Must Do Its Job On Tax Laws (Letters)
Regarding Senator Elizabeth Warren’s article “How to Fix Our Rigged Tax System”, August 15, page C4, we again have a politician at best naive, probably ill-informed and certainly ill-equipped to represent American citizens. . She cites the rich, underfunded corporations and IRS as the root of the problem. Thus, her solution, as typical, is to […]
One of Saratoga County’s Largest Farms at Risk Due to Tax Laws
CHARLTON – Dave Wood is in a tight spot of $ 5 million. He is 79 years old and does not yet have a family member to bequeath his farm to upon his death. He’s not the only one: According to a 2020 USDA report, two-thirds of family farmers nationwide who plan to retire in […]
The crypto market is approaching $ 2 trillion, but could U.S. tax laws stop the race?
The rise of Bitcoin has stalled due to oversight of virtual currencies The cryptocurrency industry is again in sight of a market value of $ 2 trillion, a level last seen in May, but further gains come up against a hurdle related to potential new requirements. for tax filing in the United States. The value […]
Understand tax laws and employee benefits
The 1980 film âAirplane! Featured struggling ex-fighter pilot Ted Striker, forced into the cockpit to land a commercial airliner. This was a comedic take on older movies where panicked passengers are asked if anyone on board knows how to land the plane. A more common theatrical plea for expertise, “Is there a doctor in the […]
100 Events Across the U.S.: Tax Season Updates Cover the Latest Tax Laws and Offer CPE
Registration is now open for all 100+ Tax Season Updates events organized by the National Association of Tax Professionals (NATP). These events are located nationwide to reach tax professionals in every state. This event is also offered virtuallywhich Premium level NATP members can participate for free. These events, formerly known as 1040 updates, are designed […]
4 ways Biden’s proposed tax laws could impact stock compensation
President Biden’s proposed tax hikes may impact your stock piggy bank getty Tax increases could be looming. If you have stock options, restricted stock units or company shares, now is the time to analyze whether the tax changes proposed by President Biden could affect your financial planning, whether either directly or indirectly. Some of the […]
South Korea to change tax laws to tackle tax evasion by crypto investors
Cryptocurrency investors in South Korea may need to revise their tax returns to include crypto income as the laws become stricter. The government of South Korea recently proposed a review of its tax codes to allow tax authorities to seize the assets of crypto tax evaders from their digital wallets. According to reports, the proposal […]
What Can the IRS Do to Enforce Tax Laws? : NPR
Scott Simon of NPR discusses the IRS’s ability to enforce tax laws with Chye-Ching Huang of the Tax Law Center at the NYU School of Law. SCOTT SIMON, HOST: * If there is indeed a bipartisan deal on new infrastructure spending, one thing that won’t help pay for all of this is collecting the money […]
What you need to know about how the COVID-19 pandemic changed tax laws
The coronavirus pandemic has eased significantly across the country as the economy opens up. But the resulting tax ramifications are still being felt. Among the changes: The Internal Revenue Service has started reimbursing millions of Americans in two separate areas: unemployment benefits and child tax credits. The changes relate to unusual arrangements adopted in part […]
US Privacy and Tax Laws Hit YouTube Revenue from Malaysia-Made Islamic Children’s Cartoons | Salaam Gateway
Islamic children’s cartoon Omar & Hana has been viewed more than 3 billion times in 50 countries on its YouTube channels, but the past year has been a struggle for Digital Durian, the Malaysian production company behind the show. ’emission. Monetization has been affected by new US tax and legal policy on collecting data from […]
Judges trained in tax laws to facilitate trials
Judge Samuel K. Marful-Sau (left), Director of the Judicial Training Institute, with Reverend Ammishaddai Owusu-Amoah, Commissioner General of the Ghana Revenue Authority, at the Laws Training Workshop fiscal The Ghana Revenue Authority (GRA), in collaboration with the Judicial Training Institute, has trained 30 judges on tax laws to facilitate the adjudication of tax cases and […]
Keep Up With The Many Changes To Tax Laws | Featured Columnist
As I stated previously, for businesses that received a Paycheck Protection Program (P3) loan that was canceled, it is not income for federal income tax purposes and you are allowed to deduct business expenses that you paid with PPP funds. For North Carolina tax returns, PPP loan forgiveness funds are not considered income. However, you […]
OP-ED: American patriotism should start with fair tax laws – Orange Leader
Morris Pearl Frederick Douglass addressed abolitionist students and colleagues at Corinthian Hall in Rochester on July 5, 1852 where he said: to oppress, rob and degrade them, neither people nor property will be safe. This weekend, as we celebrate the 245th anniversary of our country’s independence, our collective patriotism as a nation and our appreciation […]
Education group challenges new state tax laws
The Arizonans could have the final say on a nearly $ 2 billion tax cut plan that mainly benefits the wealthy. The organizers of what had been the Invest in Ed initiative that voters approved in November have crafted three separate proposals to be put to the ballot in 2022. They want the public to […]
What Colorado’s New Tax Laws Could Mean for You and Your Business
Do you own a business? The legislation is expected to generate nearly $ 150 million in annual revenue by changing the way various businesses pay their taxes. The biggest sum will come from insurance companies. It will now be more difficult for them to claim a tax deduction that rewards companies with offices in Colorado, […]
Pending Illinois Tax Law Changes Include SALT Workaround | Gould & Ratner LLP
Illinois lawmakers have passed legislation that is both good and bad news for Illinois taxpayers. The good news is, if approved by Governor Pritzker, Illinois taxpayers will be able to take advantage of a workaround to the $ 10,000 Federal Tax Deduction Cap for States and Local Authorities (SALT). . The bad news is that, […]
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Hayu increases subscription cost due to “Canadian federal and provincial tax laws” – MobileSyrup
Reality TV streaming service Hayu sent subscribers an email announcing a price hike ranging from 5% to 14.98%. For example, Hayu now costs $ 6.29 in Ontario, $ 6.71 in British Columbia, and $ 6.89 in Quebec. You can find all the changes to the cost of the service in the table below. In the […]
Focus on Strategy: Preparing for New Tax Laws
The winds of political change bring with them the potential for significant tax code revisions. As expected, in late April, President Joe Biden unveiled a number of significant proposed changes to individual tax provisions. As with the proposed revisions to the corporate code made several weeks earlier, these potential increases would fund an ambitious multibillion-dollar […]