Tax laws

A Moving Target: The Disparity Between US State Tax Laws Continues to Grow | International wealth tax advisors

The pandemic has had many impacts on the US economy, including record stock market gains that have created more billionaires. While the United States has always had its share of wealthy individuals, their numbers have increased dramatically following the pandemic. Indeed, a recent report by Swiss credit states that there are over 140,000 ultra-wealthy residents […]

Tax laws

Ron Johnson has a long history of voting for regressive tax laws that benefit him

The Republican from Wisconsin is one of the richest senators in the country, with an estimated net worth of over $48 million as of 2020. A trust fund created by Republican Wisconsin Senator Ron Johnson and his wife has gone from paying hundreds of thousands of dollars in taxes a year to the state of […]

Tax laws

24 weirdest tax laws in the US and around the world – 24/7 Wall St.

Special report October 14, 2022 12:00 Peter the Great is best known as a pioneer who modernized Russia, but he began traveling undercover across Europe and stealing his ideas. The Tsar would industrialize his country’s army, revise its calendar – and raze its men. After all, how could his compatriots compete with Europe while sporting […]

Tax laws

“There are no permanent tax laws,” says Timothy Steffen of Baird

3. The loss of expandable IRAs is a real planning challenge for high net worth clients Although the policy change took place nearly three years ago, Steffen says, the elimination of the stretch IRA continues to be a focus when considering taxes in clients’ financial plans. “The big thing that many tax-conscious advisors are focusing […]

Tax laws

“There are no permanent tax laws,” says Timothy Steffen of Baird

3. The loss of expandable IRAs is a real planning challenge for high net worth clients Although the policy change Happened nearly three years ago, says Steffen, the elimination of the Expandable IRA continues to be a focus when considering taxes in clients’ financial plans. “The big thing that many tax-conscious advisors are focusing on […]

Tax laws

Logan Paul Accuses Bad Bunny of ‘Exploiting’ Puerto Rico’s Tax Laws, Sparking Backlash

Bad Bunny fans are slamming YouTuber Logan Paul after he accused the rapper of “exploiting” Puerto Rico’s tax laws. In a recent interview, Paul attempted to call out Bad Bunny, whose real name is Benito Antonio Martínez Ocasio, for “taking advantage” of the island’s tax laws. Logan Paul called Bad Bunny about Puerto Rico’s tax […]

Tax laws

Logan Paul Accuses Bad Bunny of ‘Exploiting’ Puerto Rico’s Tax Laws, Sparking Backlash

Bad Bunny fans are slamming YouTuber Logan Paul after he accused the rapper of “exploiting” Puerto Rico’s tax laws. In a recent interview, Paul attempted to call out Bad Bunny, whose real name is Benito Antonio Martínez Ocasio, for “taking advantage” of the island’s tax laws. Logan Paul called Bad Bunny about Puerto Rico’s tax […]

Tax laws

Budget to reset tax laws to decriminalize IT sections, GST: Ministry of Finance

No capitalization under GST yet due to heavy penalties, may reduce them to limit tax disputes: Finmin official No capitalization under GST yet due to heavy penalties, may reduce them to limit tax disputes: Finmin official The Union Budget 2023-2024 will include measures to decriminalize tax laws, remove provisions from Income Tax, GST and Customs […]

Tax laws

Budget to reset tax laws to decriminalize IT sections, GST: Ministry of Finance

No capitalization under GST yet due to heavy penalties, may reduce them to limit tax disputes: Finmin official No capitalization under GST yet due to heavy penalties, may reduce them to limit tax disputes: Finmin official The Union Budget 2023-2024 will include measures to decriminalize tax laws, remove provisions from Income Tax, GST and Customs […]

Tax laws

New tax laws make system even more complicated, inspector says

The Cabinet must take into account that the measures bundled in next year’s tax plan will complicate the tax system for citizens. “Implementation will also become more vulnerable to future adjustments,” warns the new Inspectorate of Taxes, Benefits and Customs (IBTD). “We believe it is important in these situations that citizens and businesses can properly […]

Tax laws

GRA calls for police investigations into fraudsters’ failure to comply with tax laws

Economic Invoice Surveys The Ghana Revenue Authority (GRA) has handed over some officials from three establishments to the CID Unit of the Ghana Police Station for investigation into non-compliance with the country’s tax laws. It was found that the facilities are Champion Dishes, a restaurant in Adabraka, Grace Has Found Us and Celeb’s all at […]

Tax laws

NFT tax laws introduced in Washington and Pennsylvania

Washington and Pennsylvania are the first US states to tax NFT sales. State officials made the decision in early summer. Notably, collectors might also have to retroactively pay for their NFT sales. The move comes after several other countries around the world also started taxing NFT trading. Washington and Pennsylvania are the first states to […]

Tax laws

Jim of Bree | Thoughts on New Tax Laws, Part 2

This is the second of two columns dealing with the Inflation Reduction Act. Part 1 appeared in Tuesday’s edition. In my previous column, I discussed several tax issues surrounding the Inflation Reduction Act, but reserved comments on the most controversial aspect of the legislation, IRS funding, for this column. Obviously, the IRS is underfunded. The […]

Tax laws

Dues from secured creditors take priority, says Bombay High Court

The right of secured creditors to realize the debt must take priority over government dues, the Divisional Bench of the Bombay High Court said while hearing 12 motions for injunction by various banks and NBFC. The decision clarified the law on priority of dues under the Sarfaesi Law, Debt Recovery and Bankruptcy Law from the […]

Tax laws

Japanese Regulator Wants to Reform Crypto Tax Laws for Businesses and Investors

Source: Adobe/amirul syaidi Japan’s main financial regulator, the Financial Services Agency (FSA), has indicated that it is ready to reform the country’s tax laws that govern how companies and their investors are taxed on their interactions with crypto. The reforms are a response to the growth momentum in the pro-IT sector initiated by Prime Minister […]

Tax laws

New tax laws impact airline industry: South Africa

The National Treasury has published the Tax Legislation Amendment Bill. This bill, which entered into force on January 1, 2023, will have significant tax consequences for lessors in the air sector. Effective April 1, 2021, the Tax Laws (Amendment) Act 23 of 2020 (the Amending Act) amended the definition of “business” in section 1(1) of […]

Tax laws

Porn stars are you up to it?

I recently found myself on a production set for a local porn show called Porn-stars. Now, before you judge me, I was invited onto the set by the show’s producers as a member of the press. But, in all honesty, I attended the press conference because I was actually interested in seeing how a porn […]

Tax laws

Japan to Reform Crypto Company Tax Laws

The Japanese government has announced that it will assess the crypto tax rules applicable to corporations in fiscal year 2023. The Financial Services Agency and the Ministry of Economy, Trade and Industry (METI) will assess how such corporations digital assets will use digital assets to propel the growth of startups. The FY2023 tax reform request […]

Tax laws

Don’t Give the IRA $80 Billion for Tax Laws Until It Modernizes

OPINION AND COMMENT Editorials and other opinion content provide insights into issues important to our community and are independent of the work of our newsroom reporters. A sign outside the Internal Revenue Service building in Washington, May 4, 2021. Patrick Semansky PA The recent Democratic climate and tax bill increase funding for the Internal Revenue […]

Tax laws

Don’t Give the IRA $80 Billion for Tax Laws Until It Modernizes

OPINION AND COMMENT Editorials and other opinion content provide insights into issues important to our community and are independent of the work of our newsroom reporters. A sign outside the Internal Revenue Service building in Washington, May 4, 2021. Patrick Semansky PA The recent Democratic climate and tax bill increase funding for the Internal Revenue […]

Tax laws

Prime Minister hopeful Liz Truss pledges to review IR35 contractor tax laws

Liz Truss has pledged to review IR35 tax law if she becomes the UK’s next Prime Minister. IR35 came into force for the private sector last year, with a major impact on the oil and gas sector which is dependent on contractor labour. Legislation is in place to prevent workers from dressing up as self-employed […]

Tax laws

Changes in Tax Laws Essential for Obtaining Foreign Loans

ISLAMABAD: In order to secure multimillion-dollar project loans from international lenders, Pakistan will need to introduce amendments to the law on cross-border transaction taxation to bring its tax laws in line with best practices. Pakistan will have to revise all of its bilateral double taxation treaties with 66 countries with amendments. “The FBR will approve […]

Tax laws

Government strengthens tax laws for multinationals

The Labor government cracks down on multinational corporations (MNEs) that avoid tax and transparency. Last week, Treasurer Jim Chalmers said the government’s priority was to ensure multinational corporations pay a fair share of tax where they make their profits. “What I hope to do within a day or two is to publish the discussion paper, […]

Tax laws

Japanese crypto industry urges Tokyo to reform tax laws

Source: iStock/mura Japanese companies linked to crypto-assets have urged the government to make tax reforms, saying the current system is out of sync with tax rules in other countries. The proposals come from Japan Crypto-Asset Business Association (JCBA) and the Japan Virtual Currency Exchange Association (JVCEA), which, by CoinPost, released a joint report calling for […]

Tax laws

Kazakhstan tightens tax laws from 2023

In short Kazakhstan has made changes to its tax code, most of which come into effect on January 1, 2023. We summarize some of the most important changes below. 1. The deductibility of payments to related parties is limited. From 2023, Kazakh companies will no longer be able to claim a corporate tax deduction for […]

Tax laws

Top 3 takeaways from Pennsylvania’s new corporate tax laws

On July 8, after years of trying to cut taxes, the Pennsylvania Legislature finally passed an amendment to Pennsylvania’s Corporate Net Income Tax (CNIT) and passed other provisions aimed at reaching businesses. outsiders doing business in the Keystone State. See HB 1342. This article will discuss the three main tax benefits of the new bill. […]

Tax laws

3 takeaways from Pennsylvania’s new corporate tax laws

On July 8, after years of trying to cut taxes, the Pennsylvania Legislature finally passed an amendment to Pennsylvania’s Corporate Net Income Tax (CNIT) and passed other provisions aimed at reaching businesses. outsiders doing business in the Keystone State. (See HB 1342.) Here are the three main takeaways from the corporate tax bill: 1. CNIT […]

Tax laws

Which States Offer the Best Small Business Tax Laws?

kurhan / Shutterstock.com If you’re starting a small business, you’ll need to consider countless variables to determine if you have a viable idea. The size of your market, cost of production, available labor pool, and your ability to scale are just a few of the many things you’ll need to factor into your business plan. […]

Tax laws

Paul Vanderlinden sentenced for violating tax laws

Former Appleton Restaurant Owner Paul R. Vanderlinden Sentenced to Federal Prison for Violating Federal Tax Laws Richard G. Frohling, United States Attorney for the Eastern District of Wisconsin, announced that on July 20, 2022, Paul R. Vanderlinden (age: 42) of Appleton, Wisconsin, was sentenced to six months in federal prison by U.S. Senior District Judge […]

Tax laws

Regulations made in tax laws with Law No. 7417 – Tax Authorities

To print this article, all you need to do is be registered or log in to Mondaq.com. Some regulations have been made on some tax laws with the Law No. 7417 (In Turkish) and Law n°: 375 published in the Official Gazette of 05.07.2022 and numbered 31887. The summary of the settlement is as follows: […]

Tax laws

New tax laws for small business owners, sustainable construction startup nets $25 million and more

This week in the homeworld, an extremely unpredictable housing market resulted in a new generation of real estate agents– a group that deploys tarot card readings, manifestation rituals and chakra unblocking techniques to ease the home buying process. Whatever happens next, stay in the know with our weekly roundup of headlines, launches and events, recommended […]

Tax laws

Kenya’s tax laws to be reviewed once every five years under new policy

Nairobi — Kenya’s tax laws are to be reviewed once every five years as part of a national tax policy proposal that is seen as part of reforms aimed at increasing revenue and promoting a predictable tax environment for businesses operate. The National Treasury has denounced that Kenya’s revenue yield is still below the East […]

Tax laws

Significant Changes to Sales Tax Laws Through the 2022 Finance Bill

KARACHI: Significant changes have been made to the sales tax laws through the Finance Act 2022 and which are applicable from July 1, 2022. PwC AF Ferguson & Co has interpreted the changes made to the Sales Tax Act 1990 through the Finance Act 2022 which are as follows: READ MORE: Key Changes to Income […]

Tax laws

Draft report offers solutions to income tax laws

The report with its findings and recommendations was accepted by relevant public and private sector stakeholders at a seminar on Friday 24th June 2022 in Port Moresby. “The goal is to tailor the best tax regime for the benefit of our people,” CLRC secretary Dr. Mange Matui said. The seminar provided an opportunity for key […]

Tax laws

Income clubbing under income tax laws

Income tax laws contain certain provisions for associating income with the income of a person other than the person who earned the income. In this article, I will discuss the provisions applicable to individual taxpayers. Clubbing clause applicable in the event of transfer of assets Income from assets donated by members to HUF: Although gifts […]

Tax laws

Market tax laws remain tough, 4 years after Wayfair

Marketplaces have grown significantly in recent years amid the pandemic-driven acceleration of e-commerce and the growth of omnichannel commerce. In reality, eMarketer predicts that US market sales will total more than $357 billion in 2022, or nearly 35% of all online sales. As more and more customers flock to marketplaces, the opportunity to scale a […]

Tax laws

Pakistan changes its tax laws to legalize money transfers

ISLAMABAD: Pakistan has amended tax laws to grant approval of legal banking channels for money transfer by money transfer operators and offices. The country presented the 2022/2023 budget on June 10, 2022 and amended the tax laws to allow the transfer of money made through operators, bureaus and exchange companies. Through the Finance Bill 2022 […]

Tax laws

Finance bill defines beneficial owner under tax laws

ISLAMABAD: The Finance Bill 2022 defined “beneficial owner” for tax treatment purposes under the Income Tax Ordinance 2001. Changes have been proposed in Section 2 of the Income Tax Ordinance 2001 through the introduction of the Finance Bill 2022 on 10 June 2022. READ MORE: Pakistan cuts payroll tax brackets to 7 in 2022/23 budget […]

Tax laws

Pakistan changes tax laws for foreign digital transfers

ISLAMABAD: Pakistan has amended tax laws relating to digital money transfers to non-residents for various financial services. The country presented its federal budget for the 2022/2023 financial year on June 10, 2022. The amendment was incorporated into the Income Tax Order 2001 through the Finance Bill 2022. READ MORE: Pakistan imposes tax on wealthy individuals […]

Tax laws

If you earn more than $100,000, audit risk doubles as tax laws change, including reporting $600 via cash applications to the IRS

The IRS has been in the news a lot lately as it drastically changes tax laws and audits high income earners over $100,000. This is happening despite the backlog of millions of unprocessed tax returns. In recent news, things like the declaration of payments worth $600 or the agency’s destruction of 30 million paper documents […]

Tax laws

Spanish Basque Country Prepares Its Own Crypto Tax Laws, Exchanges Will Be Forced To Report On Clients

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 […]

Tax laws

Nigeria needs favorable tax laws in a digital economy

steve aya Although Nigeria has its own tax law, it is important that this law is user-friendly, fair and flexible, so that the country can take advantage of the rapidly developing digital economy. These were the views of Dr. Alexander Ezenagu, guest speaker at the 2022 edition of the Punuka Annual Conference, on the theme: […]

Tax laws

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 […]

Tax laws

BURS strengthens tax laws » TheVoiceBW

The Botswana Unified Revenue Service (BURS) is undertaking some key activities which are expected to accelerate the operational efficiency of BURS in collecting tax revenue. In a recent media briefing, Finance and Economic Development Minister Peggy Serame said some of these activities include reviewing tax legislation. “We are undertaking a comprehensive review of the Value […]

Tax laws

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 […]

Tax laws

Crypto influencers move to Puerto Rico due to tax laws. Positive?

The last The Times article qualifies Puerto Rico as “the home of one of the world’s premier cryptocurrency communities”. Are they exaggerating or are they onto something? Apparently, favorable tax laws brought “10,000 well-heeled American migrants” to the island. Of these, “approximately 3,000 of the arrivals are newly minted cryptocurrency millionaires” and “approximately 4,000 businesses […]

Tax laws

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 […]

Tax laws

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. […]

Tax laws

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 […]

Tax laws

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 […]

Tax laws

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 […]

Tax laws

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 […]

Tax laws

Kansas changes property, sales and income tax laws

April 14, 2022 2:39 p.m. Job : April 14, 2022 2:39 p.m. Updated: April 14, 2022 3:07 p.m. Picture KOAM TOPEKA, Kan. – The governor of Kansas signs a tax reduction bill, making property tax changes for certain residents. Kansans are feeling the impact of pandemic-induced inflation. So today we reduced property taxes. Our tax […]

Tax laws

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 […]

Tax laws

‘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 […]

Tax laws

‘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 […]

Tax laws

‘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 […]

Tax laws

‘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 […]

Tax laws

Tax Cuts and Jobs Act to Amend Gift and GST Tax Laws

The Tax Cuts and Jobs Act (the “Act”), signed into law on December 22, 2017, significantly increased the federal estate, gift, and generation transfer tax exemption amounts. These increases may present planning opportunities for individuals and families. Under the previous law, a person could make combined transfers, alive and on death, of up to $5,000,000 […]

Tax laws

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 […]

Tax laws

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 […]

Tax laws

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 […]

Tax laws

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 […]

Tax laws

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, […]

Tax laws

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 […]

Tax laws

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 […]

Tax laws

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 […]

Tax laws

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.

Tax laws

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 […]

Tax laws

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 […]

Tax laws

Clarifying amendments to Indian tax laws: back taxes in disguise?

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 the courts. Most of these amendments favor the taxman and […]

Tax laws

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 […]

Tax laws

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 […]

Tax laws

“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 […]

Tax laws

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 […]

Tax laws

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 […]

Tax laws

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 […]

Tax laws

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 […]

Tax laws

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 […]

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 laws

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 […]

Tax laws

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 […]

Tax laws

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 […]

Tax laws

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

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 […]

Tax laws

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

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 laws

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 […]

Tax laws

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 […]

Tax laws

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 […]

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 laws

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 […]

Tax laws

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 […]

Tax laws

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 […]

Tax laws

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 […]

Tax laws

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 […]

Tax laws

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 […]

Tax laws

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 […]

Tax laws

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 […]

Tax laws

Tax Laws That Might Surprise You

TUCSON, Ariz. (KGUN) — If you love cryptocurrency, you need to be extra careful about paying your taxes on it, because if you don’t pay, it can end up costing you a lot of money. Riana Linsky, Senior Manager at Dark Horse CPA in Tucson, says the topic of cryptocurrency is growing and rumors that […]

Tax laws

The year 2022 brings a new set of tax laws in Serbia – Tax authorities

To print this article, all you need to do is be registered or log in to Mondaq.com. A new set of Tax laws was adopted in the Republic of Serbia, most of which will be applicable from January 2022. The main changes concern: Law Amending the Personal Income Tax Law The amount […]

Tax laws

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 […]

Tax laws

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 […]

Tax laws

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 […]

Tax laws

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 […]

Tax laws

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 […]

Tax laws

New tax laws go into effect Saturday in Arkansas

From cutting income tax to lowering the sales tax on used cars, several tax laws passed in 2021 will go into effect on Saturday. At the last special session, the General Assembly passed Acts 1 and 2, which are identical laws that gradually reduce the top tax rate for individuals from 5.9% to 4.9% over […]

Tax laws

‘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 Shinchō detailed the statements of the company founder as to why he committed a crime. tax evasion. “We always end up in the red,” Kondo said of the studio’s work on popular […]

Tax laws

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 laws

These New Arkansas Tax Laws Take Effect January 1, 2022

EL DORADO, Ark. (KNOE) – The Arkansas State House of Representatives has released a summary of new tax laws that will take effect in 2022. They come into force on January 1, 2022. “At the last special session, the General Assembly passed Acts 1 and 2, which are identical laws that gradually reduce the top […]

Tax laws

These New Arkansas Tax Laws Take Effect January 1, 2022

EL DORADO, Ark. (KNOE) – The Arkansas State House of Representatives has released a summary of new tax laws that will take effect in 2022. They come into force on January 1, 2022. “At the last special session, the General Assembly passed Acts 1 and 2, which are identical laws that gradually reduce the top […]

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 laws

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 […]

Tax laws

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 […]

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 […]

Tax laws

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 […]

Tax laws

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 […]