Tax administration – amendment to the act signed by the President
Tax Administration Act means the Tax Administration Act, 2011 (Act No. 28 of 2011);(zZl) by the substitution in subsection (1) for the definition of“trade” of the following definition: “‘trade’ includes every profession, trade, business, employment, calling, occupation or venture, includi...
In our January 2025 issue, we cover the following topics: Finance Act 2024, Measures for the Collection, Administration and Enforcement of Tax Act 2024 and Labuan Business Activity Tax (Amendment)(No.2) Act 2024 Income Tax (Exemption) (No. 5) Order 2022 (Amendment) Order 2024 [P.U.(A)...
The regulations permit the NTS to access data held by the KoFIU in instances where there is evidence of alleged tax evasion and where KoFIU data is used to collect taxes in arrears. In instances that are deemed more closely related to alleged tax evasion, the Act also requires the KoFIU ...
“It would be a reckless political decision to try to snatch free and simplified tax filing away from those voters just as they start filing their taxes, especially as one of the first actions of the Trump administration,” he said.
At least we know it will be exciting on the tax front, with the Tax Cuts and Jobs Act’s individual tax provisions set to expire on Dec. 31. Congress will have its hands full either extending or revising the tax provisions. But don’t worry. The ol’ tax blog will be here through...
Joseph J. Thorndike examines the historical precedents for some of the presidential candidates’ main tax policy proposals and considers the likelihood that each could be successfully enacted by the next administration. Tax History: Not Everyone Likes Trump’s Tariff Plans — But Who Will Stop Him?
Additional Child Tax Credit(ACTC). 2024 Child Tax Credit Thanks to the tax law changes in the Tax Cuts and Jobs Act of 2017, the Child Tax Credit (CTC) is now worth up to $2,000 per qualifying child. Atax creditis a powerful tool, because it reduces the amount of tax you owe by...
Cindi Turoski, managing partner at Bonadio Wealth Advisors in Albany, New York, says her firm is encouraging clients who do backdoor Roth conversions for this year to act before Dec. 31, rather than wait until April 15. Converting earlier may give account owners more time to pay any t...
No amendments were made. The remaining clauses will be considered by a Public Bill Committee by 4 February. Report stage and third reading (which constitutes substantive enactment for accounting purposes) will follow Committee stage but a date for these has not yet been set. Chancellor requests ...