Tax regulations

Hong Kong announces new visa and property tax regulations

Hong Kong is cutting property taxes and easing visa requirements for non-permanent residents to attract international talent and resuscitate the city’s reputation as a global financial hub. The new measures address the current labor shortage while developing the local talent base and closing the skills gap. ONLINE SEMINAR – Greater Bay Area in China: access […]

Tax regulations

Income and corporate tax regulation with the new omnibus law – Corporate tax

October 28, 2022 Cott Group To print this article, all you need to do is be registered or log in to Mondaq.com. “New Omnibus Law on Amending the Income Tax Law (in Turkish) and Certain Laws and Delegated Laws” proposed to the Presidency on 07.10.2022 will result in the regulation of the Income Tax Law […]

Tax regulations

Solicitor General Passes Tax Impute Regulations

As discussed in a previous post, the sixth circuit of Whirlpool v. Commissioner, 19 F.4th 944 (6th Cir. 2021), adopted phantom regulations. That is, the court found that a law that provided rules that applied “under a regulation” could apply regardless of the regulations that had been issued under the law. The taxpayer in this […]

Tax regulations

Changes to Value Added Tax Regulations – Guatemala

On Friday, October 14 this year, the Ministry of Public Finance published in the Official Gazette the Government Agreement 245-2022, which communicates the reforms of the regulations of the Value Added Tax (VAT) law, in particular the article 30 established in agreement 5-2013. Among the most important points are: For the invoices of the Special […]

Tax regulations

How will crypto tax regulations work in the UK?

UK Drafts New Rules and Framework for Crypto Taxation Crypto assets will also be treated for inheritance tax purposes According to STEP, the relevant common law principles must underlie the determination of residence. Crypto taxation is still the topic of discussion as the Financial Services and Markets Bill in Britain brings crypto assets into the […]

Tax regulations

How will crypto tax regulations work in the UK?

UK Drafts New Rules and Framework for Crypto Taxation Crypto assets will also be treated for inheritance tax purposes According to STEP, the relevant common law principles must underlie the determination of residence. Crypto taxation is still the topic of discussion as the Financial Services and Markets Bill in Britain brings crypto assets into the […]

Tax regulations

Closure of a tobacco establishment for violation of tax regulations worth 91 million dirhams in Dubai

Image used for illustrative purposes. Gulf today, Staff reporter The Federal Revenue Authority (FCA) conducted an inspection campaign in conjunction with the Federal Criminal Police General Department of the Ministry of Interior and Dubai Police Headquarters – represented by the General Directorate of Evidence Crimes and Criminology (Department of Anti-Economic Affairs). Crime) – which led […]

Tax regulations

Closure of a tobacco establishment for violation of tax regulations worth 91 million dirhams in Dubai

Image used for illustrative purposes. Gulf today, Staff reporter The Federal Revenue Authority (FCA) conducted an inspection campaign in conjunction with the Federal Criminal Police General Department of the Ministry of Interior and Dubai Police Headquarters – represented by the General Directorate of Evidence Criminal Law and Criminology (Department of Anti-economic Affairs). Crime) – which […]

Tax regulations

New tax regulations for charitable trusts will increase compliance burden

The Centre’s new rules requiring charitable trusts to provide a wide range of personal data, bookkeeping and other documentation to qualify for income tax exemptions are aimed at tackling tax evasion, but they also imposed a heavy burden of conforming to genuine ones. As trusts and charities stand ready to comply with the new requirements, […]

Tax regulations

New tax regulations for charitable trusts will increase compliance burden

The Centre’s new rules requiring charitable trusts to provide a wide range of personal data, bookkeeping and other documentation to qualify for income tax exemptions are aimed at tackling tax evasion, but they also imposed a heavy burden of conforming to genuine ones. As trusts and charities stand ready to comply with the new requirements, […]

Tax regulations

The Unintended Consequences of Tax Regulations

By Charles Maniace. Taxes can be one of life’s safeguards, but that doesn’t necessarily mean they – or their purposes – are always understood. While sales tax is meant to be a way for states and local jurisdictions to pay for things like schools, roads, and utilities, these regulations can have unintended consequences. However, consumers […]

Tax regulations

The Unintended Consequences of Tax Regulations

By Charles Maniace. Taxes can be one of life’s safeguards, but that doesn’t necessarily mean they – or their purposes – are always understood. While sales tax is meant to be a way for states and local jurisdictions to pay for things like schools, roads, and utilities, these regulations can have unintended consequences. However, consumers […]

Tax regulations

New York Revises Recently Released “Final Draft” Corporate Tax Rules | Eversheds Sutherland (USA) LLP

Following New York City’s recent victory in a case involving the allocation of income earned by an out-of-state corporation from its sale of a non-unitary investment, the New York Tax and Finance Department New York State (NYS Department) commemorated the litigation position in an August 4, 2022 revision of the “final draft” settlement it issued […]

Tax regulations

New York Revises Recently Released “Final Draft” Corporate Tax Rules | Eversheds Sutherland (USA) LLP

Following New York City’s recent victory in a case involving the allocation of income earned by an out-of-state corporation from its sale of a non-unitary investment, the New York Tax and Finance Department New York State (NYS Department) commemorated the litigation position in an August 4, 2022 revision of the “final draft” settlement it issued […]

Tax regulations

The “major issues doctrine”: another tool for challenging tax regulations? | McDermott Will & Emery

Debates have raged in recent years over the future of Chevron deference, especially given the change in the makeup and opinions of the United States Supreme Court. We have written extensively about Chevron deference to the past (see here, here and here, for example). Although the Court did not address the continued viability of Chevronhe […]

Tax regulations

The “Major Issues Doctrine”: Another Tool for Challenging Tax Regulations? | McDermott Will & Emery

Debates have raged in recent years over the future of Chevron deference, especially given the change in the composition and opinions of the United States Supreme Court. We have written extensively about Chevron deference to the past (see here, here and here, for example). Although the Court did not address the continued viability of Chevronhe […]

Tax regulations

What is the Major Question Doctrine

Debates have raged in recent years over the future of the Chevron deference, particularly given the shift in the makeup and opinions of the United States Supreme Court. We’ve written about Chevron deference extensively in the past (see here, here, and here, for example). Although the Court did not address Chevron’s continued viability, it recently […]

Tax regulations

Ruling sparks future legal battle over tax regulations

A corporate lobby group challenging the tax relief guidelines it obtained from the state Department of Revenue (DOR) will be able to argue its case in court, the Wisconsin Supreme Court ruled Thursday. The decision is largely technical. But that opens the door to a larger challenge: whether the revenue department’s advice on a hypothetical […]

Tax regulations

Ruling sparks future legal battle over Wisconsin tax regulations

By Erik Gunn | Wisconsin Examiner A corporate lobby group challenging tax relief guidelines it obtained from the state Department of Revenue (DOR) will be able to argue its case in court, the Wisconsin Supreme Court ruled Thursday. The decision is largely technical. But that opens the door to a larger challenge: whether the revenue […]

Tax regulations

New tax regulations applicable to the mining sector | Denton

The National Executive has recently adopted Decree No. 308/22 and General Resolution No. 5205/22. These regulations apply to export duties and the fiscal stability assistance policy applying to the mining sector. Decree No. 308/22. Export duties applicable to new copper projects National Decree No. 308/22 published in the Official Gazette on June 14, 2022 establishes […]

Tax regulations

80% of stores and markets have adhered to tax regulations in Saudi Arabia

Saudi Gazette report Riyadh — The Zakat, Tax and Customs Authority (ZATCA) said it carried out more than 8,000 inspection visits to markets and shops last May, during which it recorded 80% compliance with regulations tax. While ZATCA reported that they recorded 20% non-compliance of stores and markets with tax regulations, which resulted in electronic […]

Tax regulations

80% of stores and markets have adhered to tax regulations in Saudi Arabia

Saudi Gazette report Riyadh — The Zakat, Tax and Customs Authority (ZATCA) said it carried out more than 8,000 inspection visits to markets and shops last May, during which it recorded 80% compliance with regulations tax. While ZATCA reported that they recorded 20% non-compliance of stores and markets with tax regulations, which resulted in electronic […]

Tax regulations

80% of stores and markets have adhered to tax regulations in Saudi Arabia

RIYADH – The Zakat, Tax and Customs Authority (ZATCA) said it carried out more than 8,000 inspection visits to markets and shops last May, during which it recorded 80% compliance with tax regulations. While ZATCA reported that they recorded 20% non-compliance of stores and markets with tax regulations, which resulted in electronic tax invoices not […]

Tax regulations

Jordan’s economic modernization vision outlines simplification of trade and tax regulations | Jordan News

Ammon News – Jordan’s economic modernization vision has proposed ways to simplify customs, tax and maritime regulations for trade and retail. The vision, which was launched by His Majesty King Abdullah a few days ago, to be implemented in three phases over 10 years, focuses on the trade sector as a top national priority, in […]

Tax regulations

You can have a maximum of two independent houses under income tax regulations

After 52 months of service, I decided to do something on my own. Can I withdraw the entire amount from my Employee Provident Fund (EPF) account? I understand that for the withdrawal of the balance of the EPF to be exempt from tax, it is necessary to have completed five years of service. Is there […]

Tax regulations

Labuan Tax Regulations 2021 Fully Implemented by Malaysian Government

Labuan, Malaysia – May 21, 2022 — Just recently, the Malaysian government issued the Labuan Business Activity Tax Requirements Regulations 2021 to replace the previous gazette of the Labuan Business Activity Tax Regulations 2018. Other Business Entity (OTE) has been reinstated as Code 23 and enjoys tax benefits under the Labuan Business Activity Tax. law […]

Tax regulations

New York State Updates Proposed Corporate Franchise Tax Regulations | Vide Rome LLP

On April 29, 2022, the New York State Department of Taxation and Finance (the “Department”) released what it calls a “final update” to its Proposed Franchise Tax Rules. undertaking on all matters except for distribution, which he indicated. will be published in the summer of 2022. The Department anticipates that it will begin the State […]

Tax regulations

Latest tax regulations set to have a severe impact on ‘mom and dad’ real estate investors as year-end accounts roll in

Wednesday, May 11, 2022, 4:22 p.m.Press Release: Bayleys Realty Group The full impact of the new tax regulations for residential property investors is about to really be felt when preparing their 2021/2022 financial accounts, according to a leading residential investment sales professional. Bayleys Canterbury residential investment specialist Angela Webb says the cut to the tax […]

Tax regulations

New York Department of Tax and Finance Passes Tax Regulations

Related practices and jurisdictions Nearly seven years after it began publishing proposed regulations regarding sweeping corporate tax reforms that went into effect in 2015, the New York State Department of Tax and Finance (Department) issued guidelines, stating that “the Department intends to commence State Administrative Procedure (SAPA) to formally propose and adopt” its proposed corporate […]

Tax regulations

New York Department of State Intends to Finalize Corporation Tax Regulations This Fall | McDermott Will & Emery

Nearly seven years after it began publishing proposed regulations regarding sweeping corporate tax reforms that went into effect in 2015, the New York State Department of Tax and Finance (Department) issued guidelines, stating that “the Department intends to commence State Administrative Procedure (SAPA) to formally propose and adopt” its proposed corporate tax regulations this fall. […]

Tax regulations

Compliance with tax regulations increases in the first quarter

DUBAI At its second meeting of the year, the Board of Directors of the Federal Revenue Authority (FTA) – chaired by His Highness Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Governor of Dubai, Deputy Prime Minister, Minister of Finance and Chairman of the AFC Board of Directors – adopted the AFC annual accounts […]

Tax regulations

United Arab Emirates: Tax compliance increases in the first quarter – News

The number of persons subject to VAT increased to 367,157 during the January-March quarter compared to 358,468 in the same quarter last year Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Governor of Dubai, Deputy Prime Minister, Minister of Finance and Chairman of the FTA Board, issued guidelines to maintain the pace of upgrades […]

Tax regulations

Crypto Trader Profiles Change With New Tax Regulations

Indian crypto exchanges expect to see a different profile for crypto traders after the government announced a new 1% TDS tax on every crypto exchange, a 30% tax on winnings and other rules which will come into effect from July 1. Rather than young, high-volume crypto traders, HNIs should take a bigger slice of the […]

Tax regulations

The Profile of Crypto Investors Changes as Tax Regulations Go Into Effect

Mumbai: Younger investors who drove the country’s cryptocurrency boom appear to be liquidating their positions under new tax rules, to be replaced by high net worth individuals (HNIs) as a key investor segment on crypto exchanges. Exchanges said several young investors who were making money from high trading volumes, including many from smaller towns and […]

Tax regulations

Zelenskyy eases tax regulations amid Russian-Ukrainian war; urges Putin’s forces to surrender

As the Russian-Ukrainian war entered its 20th day on March 15, President Volodymyr Zelenskyy, while fiercely resisting Moscow’s military advances, released another video to boost the morale of Ukrainian troops by listing casualties and damage from Russia. After extending martial law in Ukraine for the next 30 days, Zelenskyy vouched for maximum deregulation of the […]

Tax regulations

Kentucky Tax Talk: Inside Louisville’s New Tax Regulations

This article originally appeared in Law360 Tax Authority. When Louisville Metro Revenue Commission, or Metro Revenue, regulations were last changed, Arnold Schwarzenegger had just been elected Governor of California, the United States was on the brink of war with Iraq, and Apple had just to launch its new product, iTunes. Based on what has since […]

Tax regulations

Thai crypto tax regulations have become more lenient

Thai crypto tax regulations have become more lenient since the previous exposure. By using government-approved exchanges, crypto dealers can save 7% on their taxes. Long-term investors in start-ups will also benefit from tax advantages. Tax exemption for cryptocurrency traders Image source: Fx Empire Thailand’s Ministry of Finance has reportedly eased tax restrictions on crypto to […]

Tax regulations

Income tax regulations in Qatari laws

Introduction: Individuals and entities tend to research and evaluate tax regulations before entering a market, as taxation is considered an important indicator that helps gauge the strength, stability, and attractiveness of any market. Law number (24) of (2018) promulgating a new income tax law replaced law number (21) of (2009) and has been in force […]

Tax regulations

A closer look at tax regulations on crypto payments

For a business of any size, the decision to accept payment in cryptocurrencies like bitcoin is a big one. Issues such as price volatility and custody have kept crypto payments in a fairly small niche. But cryptocurrency payments are becoming more popular as bitcoin and other digital assets become more common, crypto-focused payment processors make […]

Tax regulations

Tax and accounting job opportunities may increase with new tax regulations in UAE

The United Arab Emirates has announced its intention to impose a new corporate tax from June 1, 2023. Although another country’s tax changes should not be of interest to us, the changes taking place in the Gulf countries are closely watched by the people here. With the introduction of the new tax regulations, more than […]

Tax regulations

The BIR reminds election candidates of tax regulations under penalty of sanctions

The Bureau of Internal Revenue (BIR) has warned anyone running for office or otherwise participating in the May 9 state and local elections to register and comply with tax regulations, or face fines under the Tax Code. taxes. All candidates, political parties/groups of party lists and campaign contributions must register with the tax office, issue […]

Tax regulations

High Court strikes down Value Added Tax Regulations, 2017 | Denton

The High Court delivered its judgment in Income Tax Appeal No. E84 of 2020: Commissioner of Inland Tax v WEC Lines (K) Limited where Dentons Hamilton Harrison & Mathews represented the taxpayer. The Court struck down the Value Added Tax Regulations, 2017 (VAT Regulations, 2017), upholding the taxpayer’s position that the agency services provided by […]

Tax regulations

Explaining the pros and cons of moving – The New Indian Express

Express press service BENGALURU: When Finance Minister Nirmala Sitharaman announced in the Union budget a 30% tax on any income from a virtual digital asset as well as a 1% TDS (withholding tax) on all crypto transactions, the crypto industry breathed a sigh of relief as the announcement necessarily settled the legality issue that was […]

Tax regulations

US Tax Regulations for Vaping Products Intended for Pulmonary Delivery of Cannabinoids – ResearchAndMarkets.com

DUBLIN–(BUSINESS WIRE)–The report “Tax Regulation in the US for Vaping Products Intended for Pulmonary Delivery of Cannabinoids” has been added to from ResearchAndMarkets.com offer. The Tax Regulation report provides a detailed analysis and comparison of the existing tax systems in each state in the United States in relation to cannabis vaping products. The report includes […]

Tax regulations

US Tax Regulations for Vaping Products Intended for Pulmonary Delivery of Cannabinoids

DUBLIN, February 10, 2022–(BUSINESS WIRE)–The report “Tax Regulation in the US for Vaping Products Intended for Pulmonary Delivery of Cannabinoids” has been added to from ResearchAndMarkets.com offer. The Tax Regulation report provides a detailed analysis and comparison of the existing tax systems in each state in the United States in relation to cannabis vaping products. […]

Tax regulations

IRS Issues Favorable Tax Rule on Management Company Exception to FET | Holland & Knight LLP

Over the past several years, the Internal Revenue Service (IRS) has worked to issue final regulations that provide guidance to aircraft management companies and aircraft owners regarding their excise tax obligations. Federal (FET). The final rule – under Internal Revenue Code § 4261(e)(5) – implements a provision of the Tax Cuts and Jobs Act of […]

Tax regulations

IRS Issues Favorable Tax Rules on Management Company Exception to FET – Transportation

United States: IRS Issues Favorable Tax Regulations on Management Company Exception to FET January 27, 2022 Holland & Knight To print this article, all you need to do is be registered or log in to Mondaq.com. Over the past several years, the Internal Revenue Service (IRS) has worked to issue final regulations that provide guidance […]

Tax regulations

EU tax rules have been updated to balance investment and debt reduction

According to French Finance Minister Bruno le Maire, the fundamental objective of the overhaul of the European Union’s budgetary rules, which is currently underway, is to reconcile the substantial investment demands of the bloc of 27 countries with a realistic rate. debt reduction. After chairing a meeting of EU finance ministers, the Mayor said the […]

Tax regulations

For violating income tax regulations, Xiaomi and Oppo could be fined Rs 1000 crore.

[ad_1] It was discovered during the strikes that the two big organizations, Xiaomi and Oppo, could face a penalty of Rs 1000 crore. They sent money as eminence, which is over Rs 5,500 crore, referring to themselves and to fundraising organizations found abroad. Source: NDTV Xiaomi and Oppo could run the risk of paying a […]

Tax regulations

Crypto tax regulations accelerate following increased adoption

[ad_1] The increased adoption of cryptocurrencies and blockchain technology components such as non-fungible tokens (NFT) and decentralized finance (DeFi) has prompted governments around the world to look into cryptocurrency taxation policies. . Audit firm PwC in a report said events such as the adoption of cryptocurrencies as legal tender in El Salvador will force tax […]

Tax regulations

Maryland Comptroller Passes Digital Advertising Gross Revenue Tax Regulations | McDermott Will & Emery

[ad_1] On December 3, 2021, the Maryland Comptroller released opinion of its adoption of the regulation on the tax on gross revenues from digital advertising (initially proposed on October 8, 2021). Pursuant to the Maryland Administrative Procedure Act, the final regulations passed will come into effect within 10 calendar days – December 13, 2021. (See […]

Tax regulations

Maryland Comptroller Passes Digital Ad Gross Revenue Tax Rules

On December 3, 2021, the Comptroller of Maryland issued a notice of adoption of the Digital Advertising Gross Revenue Tax Rule (which was originally proposed on October 8, 2021). In accordance with Maryland’s administrative procedure law, the final adopted settlement will become effective in 10 calendar days, or December 13, 2021. (See Md. Code Ann., […]

Tax regulations

Law n ° 7 of 2021: Harmonization of tax regulations

[ad_1] Overview On October 29, 2021, the Government of the Republic of Indonesia officially promulgated Law No. 7 of 2021 on the Harmonization of Tax Regulations (“Law 7/2021“). With the enactment of Law 7/2021, several tax provisions in Indonesia that were previously governed by separate regulations are now amended simultaneously. Some of these regulations are […]

Tax regulations

2022 will see the evolution of tax regulations in the United States and abroad

By George L. Salis. The next few months and into 2022 will likely determine the fate of tax regulations globally, or not. Much remains to be seen, including the final contents of President Joe Biden’s infrastructure package and details of the OECD’s 15% global minimum tax proposal, and its dubious approval by the US Senate. […]

Tax regulations

BIR strengthens fintech tax regulations

[ad_1] MANILA – The Bureau of Internal Revenue will tighten tax regulations for the financial technology (fintech) sector as online transactions continue to gain traction during the COVID-19 pandemic, the finance ministry said on Friday. “The BIR will continue to gather information and knowledge from other regulatory agencies on the identification, resolution and reduction of […]

Tax regulations

Indonesia updates tax regulations on ID numbers, mobile credit and luxury goods sales tax

Unique identification number and/or tax identification number in public services To support the implementation of public services to citizens in fulfilling their basic rights and needs, on September 9, 2021, the President of the Republic of Indonesia issued and enforced Presidential Decree No. 83 of 2021 (Perpres 83) which governs “the inclusion and use of […]

Tax regulations

Indonesia updates tax regulations on ID numbers, mobile credit and luxury sales tax

[ad_1] Indonesia’s tax scene continues to grow Unique identification number and / or tax identification number in public services To support the implementation of public services to citizens in the realization of their fundamental rights and needs, on September 9, 2021, the President of the Republic of Indonesia issued and implemented Presidential Decree No. 83 […]

Tax regulations

Fed. Circ. Supports CIT’s rejection of excise tax regulations

[ad_1] By David Hansen (Aug 23, 2021, 7:00 p.m. EDT) – The Federal Circuit on Monday overturned government rules tightening export tax refunds, upholding a ruling by the United States Court of International Trade and potentially allowing manufacturers to beer and wine larger refunds for duty paid on imports. The lawsuit, brought by the National […]

Tax regulations

U.S. lawmakers propose tougher crypto tax regulations to raise $ 28

[ad_1] The US Senate is looking to tighten cryptocurrency tax rules to make more money for an infrastructure deal. After a long standoff between Republicans and Democrats, which lasted for weeks, senators decided on a last-minute addition to the crypto tax proposals. Bloomberg Law reports that the new crypto tax proposal hopes to raise $ […]

Tax regulations

Spain adopts digital services tax regulations and tax declaration | Hogan Lovells

[ad_1] Spain’s Digital Services Tax (“DST”) law was published in October 2020 and entered into force on January 16, 2021 (please see our related publication). However, the DST regulations were only approved on June 8, 2021, coming into effect on June 10, 2021. This delay in approving regulations has forced the first quarterly assessment deadline […]

Tax regulations

Ford faces potential fine of $ 1.3 billion for circumventing ‘chicken tax’ regulations with Transit Connect imports

[ad_1] Picture: Ford In the 1940s, the US government implemented a cash prize for chicken farmers who could produce larger birds in less time.e. Here, in 2021, the domino effect has made its way around the world as Ford potentially faces a $ 1.3 billion fine for importing Transit Connect vans into from Turkey. These […]

Tax regulations

NBAA article helps members with food and entertainment tax regulations

[ad_1] The National Business Aviation Association (NBAA) has had substantial engagement with the Internal Revenue Service (IRS) and the U.S. Department of the Treasury over the past few years with respect to tax regulations for dining meals. business and entertainment activities. The Tax Cuts and Jobs Act of 2018 made significant changes to the Internal […]

Tax regulations

Simplifying tax regulations could improve India’s ranking in the Ease of Doing Business Index

[ad_1] MUMBAI / NEW DELHI: India may consider simplifying tax regulations such as withholding tax deduction (TDS) and withholding tax collection to improve its ranking in the global business rankings, according to a research report. According to the Deloitte research report, India’s overall ranking is lowered due to a lower score in the tax department. […]

Tax regulations

New luxury tax regulations are a relevant part of the revised NBA ABCs for the Sixers

[ad_1] The NBA’s salary cap and luxury tax levels remain unchanged at $ 109.140 million and $ 132.627 million, respectively, under the league’s amended collective agreement. While this is not surprising in light of the financial difficulties associated with COVID-19, there is a development in the luxury tax that is relevant to the Sixers. Typically, […]

Tax regulations

Major tax regulations could be on the chopping block after Biden win

[ad_1] President elect Joe biden The Treasury Department could try to review some of the Trump administration’s signature tax rules, especially since the potential for Republicans to hang on to the Senate would make it nearly impossible to pursue legislative plans to overturn the law. 2017 tax. Over the past three years, Democratic lawmakers have […]

Tax regulations

Tax regulations to consider when borrowing or lending by friends or relatives

[ad_1] When experiencing financial difficulties, it is not uncommon for people to seek help from friends and relatives. Right now, due to the covid crisis, many people are facing financial stress due to job loss, reduced wages or business closures. However, borrowing or lending by a relative or friend is not a taxable transaction from […]

Tax regulations

OECD urges regulators to establish uniform cryptocurrency tax regulations

[ad_1] In this photo, the Internal Revenue Service (IRS … SOPA Images / LightRocket via Getty Images Regulators around the world are struggling to put in place an effective tax policy for virtual currency transactions. Recently, the IRS was scrutinized by the government watchdog, the Inspector General of the Treasury for Tax Administration (TIGTA), on […]

Tax regulations

OSC asks court to overturn new rent tax regulations :: Ugandan Radionetwork

[ad_1] TOFI wants the court to issue an order prohibiting the government and the Uganda Revenue Authority from enforcing the 2020 Income Tax (Rental Rate) regulations. The Open Forum Initiative-TOFI called on the Civil Division of the High Court to overturn the rent (income) tax regulations issued by Finance Minister Matia Kasaijja in January this […]

Tax regulations

The Income Tax School offers training on current tax regulations, changes in tax legislation

[ad_1] LITTLE ROCK – Registration is open for the Cooperative Extension Service’s Income Tax School, which is designed to help tax preparers prepare for tax season 2021. The two-day courses, offered by the Division of Agriculture System at the University of Arkansas, provide tax preparers – and anyone interested in advanced income tax preparation – […]

Tax regulations

Special treatment for tax regulations faces latest legal test

The outcome of a case – currently pending in the US Supreme Court – dealing with a Civil War-era law could deal another blow to a long tradition of special treatment for government regulations. Treasury Department. The Anti-Injunction Act was enacted in 1867 to facilitate the administration of the first federal income taxes. The law, […]

Tax regulations

Brazilian cryptocurrency exchanges hit hard by tax regulations

[ad_1] Brazilian tax authorities have been more active in regulating the crypto market, leading to what one observer called a market cooling for smaller exchanges. Following the re-application of new tax standards in August 2019, Brazil has recently seen some of the results of these actions. Cointelegraph Brasil reported that two major cryptocurrency exchanges based […]

Tax regulations

Airbnb to be the first target of Poland’s digital tax regulation

[ad_1] Poland: Tadeuz Koscinski, the new Polish finance minister, today announced his intention to implement a tax on Airbnb operators in Poland. The latest projects from European leaders to understand and regulate Airbnb, FT reports that Koscinski seeks to tax not only the operators, but the company itself. “If we’re going to make sure that […]

Tax regulations

Affiliates in Malta could be affected by tax regulations

[ad_1] According to reports, the European Commission reflects on the introduction of new tax regulations for digital businesses. This could particularly affect affiliates and operators in Malta, where iGaming is an important economic pillar. Potential new laws Any new regulations would impose taxation based on turnover or profits. The European authorities want to target as […]

Tax regulations

Give your opinion on carbon tax regulations in South Africa

[ad_1] Following the entry into force of the carbon tax law, the National Treasury is seeking public comments on the draft regulation with an imposed deadline of January 17, 2020. “The National Treasury has released for public comment two other sets of regulations, namely the Draft Regulation for Trade Show Allocation for the Purposes of […]

Tax regulations

Treasury cuts anti-inversion tax regulations

[ad_1] The Treasury Department is cutting back on Obama-era rules designed to limit corporate tax reversal deals, deeming the regulations too onerous and less necessary. The administration on Thursday removed rules requiring companies to document certain internal loans and said it would propose changes to streamline other regulations. The measures taken by the government appear […]

Tax regulations

Proposed Tax Regulations Eliminate Recapture of Lifetime Gifts for Estate Tax Purposes | Bradley Arant Boult Cummings LLP

[ad_1] As previously reported, the Tax Cuts and Jobs Act, enacted in December 2017 (the “2017 Act”) made significant changes to the federal wealth transfer system with respect to tax transfers. on gifts and estates during the calendar years 2018 to 2025. One of these changes increased the amount of the basic exemption that can […]

Tax regulations

Singapore’s new GST proposal for crypto “one of the friendliest tax regulations in the world”

[ad_1] The Singapore government’s tax agency proposal to remove the Goods and Services Tax (GST) from cryptocurrency transactions could give the booming industry a boost, experts and industry participants say. Earlier this month, the Inland Revenue Authority of Singapore (IRAS) issued a Draft e-Tax guide outlining the tax treatment of “digital payment tokens” and unveiled […]

Tax regulations

IRS issues final tax regulations on registered investment companies on imputed income of foreign affiliates and certain other foreign companies

[ad_1] On March 18, 2019, the US Department of the Treasury and the Internal Revenue Service released final tax regulations for registered investment funds that are taxed as regulated investment companies (“RICs”) and that invest in 100% foreign subsidiaries (or other foreign companies and certain passive foreign investment companies or “PFICs”). The new regulations provide […]

Tax regulations

How OIRA Should Review Treasury Tax Regulations

In April 2018, the US Treasury and the Office of Management and Budget (OMB) agreed to a new process under which the OMB would review tax regulations before they are released. Under this agreement, the analytical requirements imposed on economically significant non-tax regulations apply to many more tax regulations than in the past. However, neither […]

Tax regulations

Treasury proposes to remove nearly 300 tax regulations

The books of the Income Tax Regulations sit during a scouting hearing of the House Ways and Means Committee at… [+] Washington, DC, United States, Monday, November 6, 2017. Photographer: Andrew Harrer / Bloomberg The US Department of the Treasury has proposed the repeal of nearly 300 tax regulations that are “unnecessary, redundant or outdated […]