Read Full Budget 2024 CoverageThe middle class, the tax-paying population of India, stares at the face of the government every time the Budget day approaches. It is that neglected segment that pays both income tax for earnings, and GST for spending. It is this 2% of the entire population of India that is contributing massively … Read more
Budget 2024: Tabling the Union Budget 2024-25 in Parliament, Union Finance and Corporate Affairs Minister Nirmala Sitharaman announced significant changes in personal income tax rates for the fiscal year 2024-25 to reduce the tax outgo of the masses. The Finance Minister has provided relief to taxpayers by revising the income tax slabs for the current fiscal … Read more
Simplifying the tax regime for corporate industries, Union Finance Nirmala Sitharaman on Tuesday, proposed new tax structures for charities, foreign shipping companies, rationalisation of capital gains in her 2024 Budget speech. She also reduced corporate tax on foreign companies from 40 to 35%. Ms. Sitharaman’s speech lasted just shy of ninety minutes Also read: Budget … Read more
As the 2024 presidential election draws ever closer, Donald Trump is revealing key tax plans that could shape his government.In his campaign, Trump has championed himself as the leader of low taxes, saying he would decrease corporation taxes, increase tariffs on international imports and exempt some U.S. workers from current tax requirements.Now that the Republican … Read more
The taxation policy in the Philippines is chiefly governed by the following Republic Acts: The Corporate Recovery and Tax Incentives for Enterprises Act (CREATE Act) Tax Reform for Acceleration and Inclusion (TRAIN) Law Article VI, Section 28 of the Constitution; The National Internal Revenue Code; and Local Government Code of 1991. Tax structure The country … Read more
The American Institute of CPAs has submitted a request to the Department of the Treasury and the Internal Revenue Service (IRS) to clarify the instructions of Form 4626, Alternative Minimum Tax—Corporations, to allow corporations already identified as “applicable corporations” to skip Part V of the form. The current filing requirement to complete Part V represents … Read more
LITTLE ROCK (KATV) — The most recent reduction in tax was in the General Assembly’s Special Session in June of this year. The top corporate tax was reduced from 4.8% to 4.3%, as well as the individual income tax rate being reduced from 4.9% to 3.9%.The Arkansas General Assembly and Governor Sanders have passed three … Read more
![GeTtin' SALTy Episode 32 | A Conversation with the Tax Foundation about Oregon Initiative Petition 17 [Podcast]](https://ch.jfdi.cc/wp-content/uploads/2024/07/gettin-salty-episode-32-a-conversation-with-the-tax-foundation-about-oregon-initiative-petition-17-podcast.jpg)
In this episode of GeTin’ SALTy, host Nikki Dobay is once again joined by Jared Walczak, vice president of state projects at the Tax Foundation, for a discussion of an Oregon ballot measure (IP17) that is on the verge of qualifying for the November election. If passed by voters, IP17 would amend Oregon’s Corporate Minimum tax by … Read more
