Tax law
The Royal Mint in Llantrisant, a small town near Cardiff, is behind a modern-day gold rush, as Britons buy coins to dodge capital gains tax and seek a safe haven from global turmoil. In the first three months of this year, gold coin sales have seen a 329 per cent
Tax law
Leaders of primary textile mills have expressed serious concerns over the imposition of 2% advance income tax (AIT) on cotton imports, warning that the new tax will have a crippling effect on the industry already burdened by high energy costs, labor expenses, and declining export incentives. They have also urged
Tax law
The Pakistani government has finalised a long-term industrial policy, recommending 10-year loans for industrial units with a two-year grace period to support manufacturing and reviving the industrial sector. The policy proposes reducing corporate tax from 29% to 26% over three years and amends existing laws such as the SECP Act,
Tax law
The rent-a-room scheme is a government initiative that permits homeowners to earn tax-free income by having a lodger rent a room in their property. Introduced in 1992, the scheme aims to incentivize the efficient use of residential space and increase the supply of affordable housing. Since the pandemic, there has
Tax law
Labour's economic strategy is under increasing pressure as the party's economic advisers warn that abandoning key pledges, including not raising taxes for working people, may be necessary to meet its growth and inflation targets. Chancellor Rachel Reeves faces a daunting task in balancing the books, as
Tax law
Mississippi's top legislative leaders, Lieutenant Governor Delbert Hosemann and House Speaker Jason White, have outlined their proposals for the 2025 legislative session, focusing on tax cuts and Medicaid expansion. The plans aim to address the state's income tax, grocery tax, and Medicaid coverage, which are likely
Tax law
The Australian tax system has been plagued by complexities and loopholes, allowing corporations to dodge their social obligations and contribute to the public purse. The topic of tax reform has been a contentious issue for decades, with various solutions proposed to address the issue of corporate tax avoidance. One such
Tax law
Bangladesh's primary textile industry is bracing for a major disruption due to newly imposed tax policies, the Bangladesh Textile Mills Association (BTMA) has warned, citing urgent need for policy reversals to safeguard local spinning mills from collapse and maintain competitiveness in the global market. The association has urged
Tax law
The Ministry of Finance is proposing a draft decree to amend Decree No. 126/2020/NA on Tax Management, with a focus on tightening personal income tax (PIT) on dividends and bonus shares paid in securities rather than cash. According to the ministry, between 2016 and 2024, individual investors received
Tax law
United States Senator John Hoeven highlighted the benefits of the One Big Beautiful Bill (OBBB) to families and small businesses in North Dakota, emphasizing the legislation's ability to provide permanent tax relief and economic growth. The bill maintains and expands tax benefits for low- and middle-income households, reducing
Tax law
The Central Board of Direct Taxes (CBDT) has revised the cost inflation index (CII), a key metric used to calculate inflation-adjusted purchase price of assets, to 376, enabling sellers to claim greater tax relief on asset sales. This revision will impact the current financial year (FY26) and the corresponding assessment
Tax law
The ongoing trade war between the US and other countries has escalated into a new arena: taxes. In a compromise reached with the G7 and the OECD, the US has secured exemptions for its companies from two rules on tax avoidance, in exchange for dropping a provision that would have
