Feb 12, 2023 | 2 commentsFrom FY 2023-24, tax rates for the new tax regime are revised. The new Tax Regime was introduced in Union Budget 2020-21. So now there is old tax regime, new tax regime applicable till AY 2023-24 and Revised new Tax Regime applicable from AY 2024-25. Now...
Budget Update: New Foreign Investment Regime to Raise $735 MillionLozzi, Vanya
On December 27 2023, the Italian government published a legislative decree that revises several international tax rules as part of a major tax reform (Legislative Decree No. 209/2023(in Italian), or the Decree). An important measure addresses the criteria that identify ...
The Budget would change numerous aspects of the GILTI regime to eliminate perceived incentives to move US operations offshore and to comply with the global minimum tax rules under Pillar Two. These changes include: Taxing a US shareholder's entire net CFC tested income by eliminating the exemptio...
once the laws are enacted by jurisdictions, their interaction with countless other areas of a jurisdiction’s tax regime will need to be thoughtfully considered. Audit activity around tax incentives, actively being reconfigured in many jurisdictions in light of Pillar Two was the second leadin...
Budget Act Creates New Partnership Tax Audit RegimeC. Baird Brown
On Sept. 21, FDR came before Congress to request amendments to a series of neutrality acts so that the United States could send aid to allies in Europe on the verge of a second World War and in opposition of the Nazi regime. FDR likened not amending these acts to passively aiding an ag...
The Minister of Finance and Economic Development, Professor Mthuli Ncube, had his budget approved recently and interestingly the new tax bands to be used for 2022 financial year are paged at parallel market rate of US$1 to ZWD250. The Zimbabwe Revenue Authority (ZIMRA) has published the memo...
As the U.S. under the Trump regime had the US cut off any dialogue with Chinese government officials, Wang stated that they are ready to communicate in solving problems that the two countries part in the past few years, Wang believed with optimism that the recent call between US President ...
The HPP also aims to bring Indonesia's budget deficit back under the cap of 3% of GDP by 2023 (this cap was temporarily lifted in 2020 to accommodate more than a billion dollars of spending for COVID-19 relief measures). Introduction of carbon tax The HPP creates a carbon tax, which ...