South Africa’s total tax revenue increased to 2.155 trillion rand (5 billion) last year, with personal income tax collections rising over 8% and corporate income tax collections decreasing by nearly 9%.
The Centre has met its tax collection target of over Rs 34.37 lakh crore for 2023-24, with net direct tax collections reaching over Rs 18.90 lakh crore as of March 17. Gross GST collection in March 2024 was the second-highest ever at Rs 1.78 lakh crore, with a year-on-year growth of 11.5 percent. Total gross collection for FY24 stood at Rs 20.18 lakh crore, surpassing the revised budget estimate.
The most recent state-to-state migration data shows that California, New York, and Illinois are experiencing population loss to red states due to factors such as high taxes, high housing costs, and crime. Lawmakers in blue states like New York and Illinois are proposing tax hikes, while red states like Georgia and Iowa are taking action to reduce taxes and improve their fiscal advantages. Governor Gavin Newsom of California has blocked some tax hikes, but voters will decide on a proposed income tax increase in November.
– Several high-profile, regressive tax cuts are making their way through state legislatures in Kansas, Missouri, Nebraska, and Vermont.
– In Kansas, the House passed cuts to income, sales, and property taxes, with more than half of the benefits flowing to the state’s top 20 percent of earners.
– Missouri’s House passed a bill to fully eliminate the state’s corporate income tax by 2028, despite its 0 million annual revenue loss.
– Nebraska lawmakers are considering raising the state’s sales tax to fund property tax cuts.
– Vermont’s House Ways and Means Committee approved bills to generate 0 million by taxing wealthy households and corporations.
Lithuanian companies have joined an initiative urging politicians to agree on 4% of GDP defense spending.
The text provides information about dividend tax rates in Europe for the year 2023. The fact described in the text is that Ireland has the highest top dividend tax rate in Europe at 51 percent, followed by Denmark and the UK.
Ontario Minister of Finance Peter Bethlenfalvy tabled the province’s 2024 budget on Tuesday, March 26, 2024. The budget, titled “Building a Better Ontario,” includes investments in workers and key public services without raising taxes or fees. The province is investing in infrastructure to get more homes built faster and help keep costs down for families and businesses.