Horse racing
Sir Geoffrey Clifton-Brown, the MP for the North Cotswolds, is voicing concerns about two government policies that he believes will have devastating effects on horse racing and digital identity. The proposed gambling reforms could cost the industry £66 million in lost income, putting 85,000 jobs at risk, while the
Legislative bills
Delaware Governor Matt Meyer has taken a step towards addressing the property tax concerns of homeowners in the state. In a special session, he signed several bipartisan reforms aimed at providing immediate relief to those facing sharp property tax increases following the statewide property reassessment. The bills aim to create
Legislative bills
The Lok Sabha has passed a revised income tax bill, which aims to simplify the law's language, reduce bulk, eliminate redundancies, and enhance clarity. The Income Tax (No. 2) Bill, 2025, was introduced by finance minister Nirmala Sitharaman and passed without debate, despite protests from opposition parties over
Legislative bills
The Lok Sabha has passed the revised Income Tax Bill, 2025, which will replace the Income Tax Act, 1961 from April 1, 2026. The new bill aims to simplify the tax laws, making them easier to understand and apply. The bill eliminates the concepts of assessment year and previous year,
Legislative bills
U.S. Senator Bill Cassidy, M.D. (R-LA) has introduced the Working Waterfronts Disaster Mitigation Tax Credit Act, aimed at providing financial resources to working waterfronts to shore up their infrastructure. The legislation, co-sponsored by Senators Angus King (I-ME) and Representatives Chellie Pingree (D-ME-01) and Greg Murphy (R-NC-03), aims to
Legislative bills
Congressmen Eugene Vindman (D-Va.-07) and Young Kim (R-Calif.-40) have introduced a bipartisan bill to address a long-standing issue in the U.S. tax code that unfairly penalizes American taxpayers waiting on delayed tax refunds. The Cutting Paperwork for Taxpayers Act aims to eliminate extra taxes and forms on
Legislative bills
House Bill 2271, filed by Quezon City Rep. Patrick Michael Vargas, aims to reduce the cost of business compliance for micro, small, and medium enterprises (MSMEs) by amending key provisions of the National Internal Revenue Code of 1997. The bill proposes to lower the optional income tax rate from 8
Legislative bills
The Association of International Certified Professional Accountants has issued a statement in support of legislation that would allow domestic abuse survivors to file taxes as single, giving them autonomy over their tax filings and access to benefits without being financially tied to their abusive or absent spouse. The Survivor Assistance
Legislative bills
Congressman Derrick Van Orden and Congresswoman Andrea Salinas have introduced the Bubble Tax Modernization Act, a legislation aimed at lowering the tax rate for lower-alcohol wine, cider, and mead made with fruit. The current tax code dictates that if a sparkling cider, wine, or mead is made with fruits other
Legislative bills
Congressman Suhas Subramanyam joined members of the Congressional Dads Caucus to unveil a six-bill legislative package aimed at lowering costs for working families by eliminating harmful tariffs on essential baby products. The packages' main goal is to provide tariff relief on baby essentials, such as strollers, car seats, formula,
Chambers of commerce
Thousands of businesses and trade bodies in Pakistan observed a nationwide strike on Saturday, protesting against new tax laws that grant the Federal Board of Revenue (FBR) unchecked powers to arrest defaulting taxpayers. The strike was led by major trade bodies, including the Karachi Chamber of Commerce and Industry (KCCI)
Chambers of commerce
As of August 1, 2025, Vietnam's Customs will officially begin collecting value-added tax (VAT) on express import goods worth less than 1 million Vietnamese dong, approximately RMB 300, as part of measures to improve tax collection efficiency, reduce administrative procedures, and strengthen tax supervision. Key Takeaways: * The new
