Tax code

Frank Stronach: The serious need for a simplified tax code

Breadcrumb Links Comment NP Our tax system is murky, convoluted, unnecessarily complicated and overly complex Publication date : March 15, 2022 • 3 hours ago • 3 minute read • 8 comments Photo by Chris Young/The Canadian Press Content of the article Canada needs a fully transparent, simple to administer and easy to understand tax […]

Tax code

A change to the US tax code could solve the housing crisis

A six-word phrase keeps coming up on my Twitter feed: “Land value tax would solve this problem.” In response to the inefficient use of land as parking lots. As a policy of help finance a universal basic income. And even (jokingly) as a prescription for the rise in virginity among young men. The big question […]

Tax laws

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 […]

Tax code

The federal tax code is not discriminatory

Natalie Moore’s column stating that the federal tax system is racially discriminatory (“In tax season, green isn’t the only color that matters”) is long on generalization but short on fact. For example, it is claimed that a married couple each earning $50,000 a year does not get the same tax relief as a single-earner couple, […]

Tax code

Tax Refund for Working Floridians Fixes Upside-Down Tax Code

OPINION AND COMMENT Editorials and other opinion content offer viewpoints on issues important to our community and are independent of the work of our newsroom reporters. Super yachts docked at Island Gardens Marina during the 2022 Miami Boat Show on Thursday. Pedro Portal [email protected] I often hear Florida referred to as a “low tax” state. […]

Tax code

On the adoption of the Tax Code of the Kyrgyz Republic – Taxation

Kyrgyzstan: On the adoption of the Tax Code of the Kyrgyz Republic February 14, 2022 GRATA International To print this article, all you need to do is be registered or log in to Mondaq.com. On January 18, 2022, the President of the Kyrgyz Republic signed the Tax Code, adopted by the Jogorku […]

Tax laws

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 […]

Tax code

Anglo-Irish Chamber calls for new body to simplify tax code

The Anglo-Irish Chamber of Commerce has called for the creation of a tax reform office to recommend and advise the government on how to simplify what it describes as “the onerous nature of the Irish tax system for business”. . The business advocacy group has called for a new agency modeled on the UK’s Office […]

Tax laws

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 […]

Tax deductions

“The government’s objective is to move away from tax deductions”

NEW DELHI : About 16% of corporate taxpayers accounting for 61% of business income have adopted the new reduced tax regime without incentives, making it a resounding success, said Chairman of the Central Board of Direct Taxes (CBDT), JB Mohapatra , in a post-budget interview. The government’s aim is to move from tax deductions to […]

Tax code

Changes to the tax code – Taxation

On January 1, 2022, changes to the Tax Code entered into force. The tax legislation will be amended in several stages: Since January 1, 2022 Since July 1, 2022 Since January 1, 2023 These changes are among the most significant in recent years. We present to your attention some of them: 1) Amendments relating to […]

Tax code

Launch of a new consultation on the draft tax code

The Legislative Assembly (AL) has announced a new two-month public consultation on the tax code proposal to allow industry representatives and taxpayers to submit suggestions on the draft, the chairman of the third standing committee said of the AL, Vong Hin Fai, quoted by TDM Radio. Macau. Mr. Vong justified the decision by the impact […]

Tax code

Revamped Macao SAR tax code and new financial diversification measures

During the third quarter of 2021, Macao SAR was inundated with information about the much touted “financial diversification” of the Special Administrative Region (SAR) with a number of government initiatives in the works for it. In October, the Executive Council (EC), an advisory body to the Chief Executive, announced that it had completed and ultimately […]

Tax laws

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 […]

Tax code

Commentary: The Case for Modernizing the Michigan Tax Code

I ask a few questions when analyzing tax policy: Are tax revenues sufficient to fund services that provide a high quality of life? Does Michigan’s Tax Structure Make Michigan Uncompetitive with Other States? Does the tax burden cause individuals or businesses to change their economic decision-making? Despite the windfall in new federal revenues from pandemic […]

Tax code

Minister: Let us not change the EU tax code until OECD reforms crystallize | Politics

Pentus-Rosimannus, attending a meeting of EU finance ministers in Brussels on Tuesday, said: “Global tax reform could have an unpredictable impact on tax systems and investment strategies, both within the ‘EU than outside. “We need to monitor the results of its implementation before taking any significant new steps,” she continued, arguing in favor of the […]

Tax code

The proposed changes to the tax code are not a “revolution” but necessary upgrades – Legal expert

The proposed changes to the local tax code will not be a complete overhaul but updates needed to standardize and upgrade outdated tax regulations in the SAR, lawyer and notary Rui Filipe Oliveira said at a seminar on the question organized by the British Chamber of Commerce in Macau. Bills for an overhaul of the […]

Tax code

Passage of the Build Back Better Bill moves the U.S. tax code in the right direction – ITEP

The following is a statement from Amy Hanauer, Executive Director of the Institute on Taxation and Economic Policy, regarding the adoption of the Build Back Better plan by the House of Representatives. “The Build Back Better plan that the House adopted today will transform the country and make our tax code more progressive, fairer and […]

Tax code

It’s time to update the state tax code

“When you add all that up, the changes that have been made over the last 20 years, overall, they tend to favor those with the highest incomes, businesses and attract white taxpayers rather than d ‘be fair to all Georgians,’ said Danny Kanso, author of the report. To exploreGeorgian Senators Consider Review to Modernize Tax […]

Tax code

The U.S. tax code favors white wealth over black wealth

Marko Geber / Getty Images Paul Constant is a writer at Civic Ventures and co-host of the “Pitchfork Economics” podcast. In a recent episode, he spoke with Emory University tax law professor Dorothy A. Brown about the U.S. tax system. Emory says the current tax system actively benefits white Americans while disadvantaging black Americans. It […]

Tax deductions

IRS releases new tax deductions and common tax brackets as inflation rises

Tax time is months away, but it’s never too late to know what to expect when it comes to potential repayments, especially if inflation is consuming national budgets. Hours after the release of data showing inflation hit a 31-year high in October, the Internal Revenue Service announced how many inflation-targeted tax provisions would be adjusted […]

Tax laws

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 […]

Tax code

How the U.S. tax code favors white wealth over black wealth

Paul Constant is a writer at Civic Ventures and co-host of the “Pitchfork Economics” podcast. In a recent episode, he spoke with Emory University tax law professor Dorothy A. Brown about the U.S. tax system. Emory says the current tax system actively benefits white Americans while disadvantaging black Americans. Loading Something is loading. It is […]

Tax laws

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 […]

Tax laws

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 […]

Tax code

Yo, NYT! Washington’s tax code is definitely regressive, but Democratic leaders in the state have actually worked to change that :: NPI’s Cascadia Advocate

This morning, The New York Times released a provocative new opinion piece titled “Blue states, you are the problem”, in which Johnny Harris and columnist Binyamin Appelbaum take aim at a selection of Democratic-led states for so-called not living up to one’s values. The fourteen-plus-minute video consists of an introductory segment followed by a set […]

Tax laws

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 […]

Tax laws

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 […]

Tax laws

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 […]

Tax deductions

US Court of Appeals dismisses 4-state challenge to state and local tax caps | News from USA®

NEW YORK (Reuters) – A federal appeals court on Tuesday rejected efforts by four Democratic-leaning U.S. states to overturn former Republican President Donald Trump’s decision to limit federal deductions from state and local taxes. In a 3-0 decision, the 2nd U.S. Court of Appeals in Manhattan said the federal government had the power to impose […]

Tax deductions

Universities want bigger tax deductions for education

Australian Bureau of Statistics data shows that 41 percent of Australian adults took some form of apprenticeship in 2016-17, up from 46 percent in 2013 and 49 percent in 2005. Each year, 530,000 Australians deduct more than $ 1 billion from work-related self-education expenses, excluding expenses related to formal education courses provided by professional associations, […]

Tax code

Reinventing Income: Changing Georgia’s Tax Code Is Key To Racial Fairness

The structure of Georgia’s modern tax system – which determines how much money the state can use to fund Georgia’s budget – has been shaped over decades by racism. Historical injustices and nefarious political choices have resulted in vast income disparities by race and ethnicity in Georgia. Regressive state and local tax policies continue to […]

Tax laws

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 […]

Tax code

Lawmakers debate changes to NM’s tax code

In this archive photo, the gallery of the Maison is empty. at the rotunda. (Eddie Moore / Albuquerque Journal) SANTA FE – A group of influential lawmakers on Thursday launched ideas to reshape the New Mexico tax code in a bid to improve the business environment while stabilizing government revenues. Ideas ranged from reimposing a […]

Tax code

MAILBAG: A simple tax code would be fairer | Opinion

A recent view by a guest from the Portland, Maine Tribune, titled “Proof that the US tax code is rigged,” gave three main reasons for tax injustice. First, the obscene, unspendable, and rapidly growing wealth of the rich is not taxed. Second, the rich use all legal methods to pay only the required tax. Third, […]

Tax laws

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 […]

Tax code

Dorothy Brown on Racism in the Tax Code

A ProPublica Report released this week documents how some of the wealthiest Americans are taking advantage of loopholes to avoid paying federal income taxes. While the report focused on billionaires like Jeff Bezos and Elon Musk, Dorothy Brown — a South Bronx native and law professor at Emory University in Atlanta, who holds a master’s […]

Tax deductions

Albanian new petroleum tax law places limits on tax deductions that could discourage future investments

Albania offers upstream acreage in the form of production sharing agreements (PSAs). The initial costs of the tax system include signing and production bonuses, training fees, royalties collected at a rate of 10% and a government allowance at a rate between 1 and 5%. Both the royalty and the government allowance are levied on gross […]

Tax deductions

Tax deductions favor those who “play” with the system. Standard deductions could help

Those who claim a standard deduction argue that it creates simplicity. For many Australians, tax filing can be extremely complex and taxpayers must keep detailed records and receipts to substantiate their claims. It’s no surprise that the majority of people who object to a standard deduction are accountants. They argue that the system should not […]

Tax regulations

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

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 presented […]

Tax regulations

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

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 be […]

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 […]