Category: tax
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Winners and losers in President Ruto tax trade-off plan
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MPs have proposed an increase in fuel, import and railway development duties as well as an increase in tariffs on gambling to compensate for the abandonment of a range of controversial taxes on bread and cars in this year’s Finance Bill. The National Assembly Finance and Planning Committee’s proposal will…
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KRA pursues directors, traders in Sh67m tax evasion scheme
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Twenty suspects, including directors of five companies, face various tax fraud charges, including a missing tax evasion scheme. The Kenya Revenue Authority (KRA) said its investigations revealed that 15 individuals and five companies committed various tax evasion offenses with a total tax implication of Sh66.7 million. In a missing merchant…
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Malaysia’s “Ops Token” Crackdown: Uncovering Crypto Tax Evasion
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In an important step to combat tax evasion in the fast-growing cryptocurrency sector, the Inland Revenue Board (IRB) of Malaysia, in collaboration with the Royal Malaysian Police and CyberSecurity Malaysia (CSM), has… A special operation was launched It has the code name “Ops Token”. This coordinated effort aims to detect…
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Nigeria Drops Tax Evasion Charges Against Binance Executives
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Events in the Nigeria-Binance saga continue to unfold. This time, the country dropped tax charges against the stock exchange executives. according to tweet By Nigerian journalist Alexander Onukwe Nigeria’s Federal Inland Revenue Service (FIRS) has withdrawn tax evasion charges against Tigran Gambaryan, Head of Financial Crimes Compliance at Binance, and…
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Binance Leaders Off the Hook in Nigeria Tax Evasion Case after Legal Shuffle
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Today (Friday), Nigeria dropped tax evasion charges against two Binance executives after a local representative was appointed by the cryptocurrency exchange to handle the legal proceedings. Tigran Gambaryan, a US citizen and head of financial crimes compliance, and Nadeem Angarwala, the British-Kenyan regional director for Africa, have denied the accusations.…
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Turkey Targets Crypto With New 0.03% Crypto Transaction Tax
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As the global economy continues to evolve, governments around the world face the challenge of effectively regulating the rapidly expanding cryptocurrency market. In an important step, the Turkish government recently revealed A Series of tax reforms in Türkiye Which aims to address concerns regarding the country’s budget, including imposing a…
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Tax Doubts Look Set to Dog Keir Starmer to Election and Beyond
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Breadcrumb links PMN works Keir Starmer’s path to power in the UK general election looks insurmountable with less than three weeks to go, but for the investors, economists and ordinary Britons who will vote for him, the Labor leader has yet to settle a key question: Are his tax and…
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Donald Trump aims to entice CEOs with lucrative tax cuts while Biden wants to win them over by vowing to maintain stability
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Former President Donald Trump told an influential group of CEOs that he wants to lower the corporate tax rate he cut while in office, while President Joe Biden’s chief of staff separately told them that the Democratic incumbent’s focus on global alliances would help their businesses. both of them Trump,…
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Britain Should Celebrate the Wealthy – Not Tax Them Out of the Country
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In many parts of the world, wealth is celebrated and admired. This is especially true in Asia, Africa, and the United States, where the spirit of the “American Dream” fosters the belief that hard work and creativity can lead to wealth. This ambition led the United States to become the…
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Parliament seeks urgent hearing of appeal on tax waivers to Japanese staff, firms
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Parliament has written to the Court of Appeal over delays in hearing a case challenging tax breaks given to Japanese workers and companies. In a letter to the Deputy Registrar of the Court of Appeal, Parliament indicated that the six-month suspension of the ruling repealing Section 13 of the Income…
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Labour to Tackle Private Equity Tax Loophole in Election Manifesto
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Labor is set to announce measures to close a major tax loophole that currently allows thousands of private equity investors to avoid paying income tax. The initiative will be a key feature of the party’s general election manifesto, which is expected to be unveiled this week. Currently, gains from private…
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Surge in Loan Enquiries for Private School Fees Amid Potential Labour Tax Reforms
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The number of inquiries for loans to help pay private school fees has risen by a quarter, according to the School Fees Scheme. The company, which helps parents by paying school fees in advance and allowing payment in monthly installments, saw a significant increase in interest compared to the same…
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Rachel Reeves Faces Pressure to Raise Capital Gains Tax to Fund Public Services
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Rachel Reeves, Labour’s shadow chancellor, is under mounting pressure from colleagues to consider increasing capital gains tax (CGT) as part of an ambitious Autumn Budget designed to fund public services. With income tax, National Insurance and VAT increasing, Reeves is exploring alternative measures to raise revenue. Business insiders reveal that…
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Tourist Tax Diverts Wealthy Visitors from London to Paris and Milan, Claims Cadogan Estates Boss
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The UK’s “tourist tax” is driving wealthy international visitors away from London to destinations such as France, Italy and Spain, according to Hugh Seaborn, chief executive of Cadogan Estates, one of London’s largest landowners. Seaborn, whose company owns 90 acres of prime land in Chelsea, including Sloane Street and King’s…
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FTX Settles $24 Billion Tax Dispute with Internal Revenue Service
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FTX has reached a settlement with its largest creditor, the Internal Revenue Service (IRS). This agreement resolves a major $24 billion tax dispute that has been looming over the stock exchange’s restructuring process. Initially, the IRS claimed that FTX owed more than $44 billion in taxes, but that amount was…
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CoinDCX CEO clarifies India’s crypto tax regulations and their impact
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Sumit Gupta, co-founder and CEO of Indian cryptocurrency exchange CoinDCX, recently spoke with crypto.news in an exclusive interview, discussing how cryptocurrency tax policies in India have impacted the industry. The introduction of taxes on cryptocurrencies in the 2022 Union Budget marked a watershed moment for the cryptocurrency economy in India.…
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Attacker Says Smart Contract Tax Code Is “copy Paste” Job
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Image courtesy: Coindesk.com The cryptocurrency landscape is full of volatility and unpredictability, as even the most well-known projects can fall victim to devastating cryptocurrency-related scams. The latest saga surrounding the Normie meme is here Ethereum The second layer network, Base, is a cautionary tale for both investors and developers in…
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Attacker Says Smart Contract Tax Code Is “copy Paste” Job
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Image courtesy: Coindesk.com The cryptocurrency landscape is full of volatility and unpredictability, as even the most well-known projects can fall victim to devastating cryptocurrency-related scams. The latest saga surrounding the Normie meme is here Ethereum The second layer network, Base, is a cautionary tale for both investors and developers in…
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Families Rush to Transfer Property Amid Fears of Labour’s Inheritance Tax Crackdown
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Wealthy landowners are hastily transferring their estates to their children ahead of the general election, driven by fears that a Labor government may tighten inheritance tax breaks. Concerns about potential tax bills have prompted many to speed up property transfers, said Joseph Adonis, a partner at Moore Kingston Smith and…
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Inheritance Tax Conflicts with Conservative Values, Says Hunt
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Chancellor of the Exchequer Jeremy Hunt declared the inheritance tax unfair and “deeply anti-Tory”, and pledged to support the middle classes with tax breaks. In an interview with TelegraphHunt stressed the Conservative Party’s commitment to ending taxes that discourage earning and saving, and pledged to build on recent cuts to…