Transaction tax

India to Tax Cryptocurrency; A look at how other countries regulate it

1 / 12 Cryptocurrencies have come a long way. From being speculative products that few dared to enter, they are now a booming investment opportunity. Non-fungible tokens (NFTs) and other digital currencies are now more widely accepted. However, the decentralized technology behind them has the potential to disrupt the traditional financial system. That’s why governments, […]

Transaction tax

When do I receive my tax refund? Here’s how to check

The IRS and tax experts recommend filing by direct deposit to get your refund faster. Angela Lang/CNET This story is part Taxes 2022CNET’s coverage of the best tax software and everything you need to file your return quickly, accurately and on time. Have you got filed your tax return to the taxman? If so, you […]

Financial transaction

IRS tax forms: what do I need to file my tax return in 2022?

This is an excerpt from Dollar Scholar, the Money newsletter where editor Julia Glum teaches you the modern money lessons you MUST know. Don’t miss the next issue! Register on money.com/subscribe and join our community of over 160,000 scholars. I’m a Floridian, so it’s probably no surprise that I dislike winter. I know New York […]

Financial transaction

The postal system will offer a return of 7.1%, better than the bank DFs; Know the details

The Public Provident Fund is a long-term investment option backed by a sovereign guarantee. Not only generally higher than FD yields, the PPF diet comes with several benefits for the common man. You can use the PPF account to accumulate long-term wealth. People who are not covered by the Employees Provident Fund (EPF) can also […]

Transaction tax

How much is crypto taxed? It is complicated

Cryptocurrency is more mainstream than ever, and that’s bad for tax returns. Income generated from crypto is taxed differently than income. It’s tax season and the emergence of digital items and crypto bought and sold on the internet made declarations more complicated than usual. Cryptocurrencies are more common than ever, and the average person probably […]

Transaction tax

WILLIAMS: Bringing clarity to gift tax | Local News

Many of us have worked extremely hard in life to accumulate a substantial amount of assets to fund our future retirement. The younger generation is buying houses, attending college, and beginning life in a way their parents had accustomed them to. However, in the words of great songwriter Bob Dylan, “these times are changing” accurately […]

Transaction tax

The TDS rules in real estate transactions have changed. What this means for home buyers and sellers

In the 2022 budget, the Minister of Finance proposed that at the time of the purchase of a property, a TDS (Withholding at Source) of 1% applies on non-agricultural real estate of more than ₹50 lakh based on sales price or stamp duty value, whichever is greater, after a change in the income tax law. […]

Transaction tax

Stock market players demand the abolition of the LTCG tax

Budget 2022 expectations: As Union Finance Minister Nirmala Sitharaman is set to present her third budget on February 1, 2022, various industry insiders are busy delivering their list of demands. As the real estate sector calls for its secular industry status to be granted in the upcoming 2022 budget, stock market insiders are calling for […]

Financial information

Spotlight on Director of Solutions Wendy Walker

Our Spotlight series sheds light on the careers and lives of tax professionals around the world. This week’s Spotlight is on Wendy Walker, Solutions Manager and Resident Crypto Expert at Sovos. Walker uses its market expertise to create and implement product and solution strategies that help customers meet the demands of an ever-changing regulatory environment. […]

Transaction tax

Legal issues relating to FDI in Thailand Part 4: Main taxes

The main tax law applicable to FDI in Thailand is the Tax Code (“RC”), which covers the following taxes: – (1) Corporate tax (“IS”) CIT applies to companies and legal entities registered in Thailand or registered abroad but carrying on business in Thailand. With the exception of SMEs, companies registered in Thailand pay CIT based […]

Transaction tax

Finance Law: Investors Must Pay 10% Tax On Sale Of Shares Of Any Nigerian Company

Investors in the Nigerian Stock Exchange must pay a 10% capital gains tax on the sale of shares in accordance with the provisions of the signed 2021 Finance Law. The tax is applicable on the disposal of shares valued at 100 million naira or more. The tax also extends to anyone who sells shares in […]

Financial basis

Saving the VAALCO Energy Files shelf

HOUSTON, December 29, 2021 (GLOBE NEWSWIRE) – VAALCO Energy Inc. (NYSE: EGY; LSE: EGY) (“VAALCO” or the “Company”) today announced the filing of a $ 150 million off-the-shelf registration statement on Form S-3 (the “off-the-shelf registration statement”) with the United States Securities and Exchange Commission (the “SEC”). If and when declared effective by the SEC, […]

Financial transaction

RTI Deposit: Not reporting these high value transactions may give you income tax notice

ITR Deposit: Failure to Report These High Value Transactions May Give You Income Tax Notice New Delhi: Taxpayers are required to report some high value transactions on their income tax return (RTI), failing which they may receive a tax notice from the income tax service. It should be mentioned here that the IT department receives […]

Transaction tax

Rosmah fails to remove judge over money laundering and income tax charges, trial to open January 12

KUALA LUMPUR (December 14): Datin Seri Rosmah Mansor failed Tuesday, December 14 in his attempt to challenge High Court Judge Mohamed Zaini Mazlan from presiding over his money laundering and tax evasion case. Thereafter, his trial will begin on January 12, chaired by Judge Zaini. In its decision on Tuesday, the court said Rosmah’s main […]

Financial information

An inclusive version of 26AS or something more?

Every taxpayer is now familiar with Form 26AS, which mainly contains TDS / TCS payment data for a particular taxpayer. Over the years, Form 26AS has been reformed to include more details like reimbursement and interest on reimbursement, high value transactions, etc. In order to promote transparency and to simplify the tax reporting process, CBDT […]

Transaction tax

ITR for AY 22: How to report dividend income, stock gains, M&O? Two tax specialists explain

ITR for AY 22: How to report dividend income, stock gains, M&O? Two tax specialists explain | Photo credit: iStock Images Millions of small investors first opened demat accounts in the aftermath of the foreclosure and began their investment journey. More than 10.7 million of these accounts were opened in April 2020 and January 2021 […]

Transaction tax

Is the withholding tax system really effective?

ACCORDING to the Bureau of Internal Revenue (BIR), the withholding system is “considered an effective tool in tax collection” because it “encourages voluntary compliance”, “reduces the cost of the collection effort” , “prevents bad debts and loss of income,” and “prevents [a] period of drought in the fiscal conditions of the government by ensuring income […]

Financial basis

ECN Capital announces the finalization of the sale of its service

TORONTO, 06 Dec. 2021 (GLOBE NEWSWIRE) – ECN Capital Corp. (TSX: ECN) (“ECN Capital“or the”Society“) is pleased to announce that it has completed its previously announced sale to Truist Bank of all issued and outstanding interests in each of Service Finance Company, LLC and Service Finance Holdings, LLC, each of which is an indirect owned […]

Transaction tax

Cryptocurrency Bill 2021: Trade tax, card investment, no outright ban; All you need to know

Cryptocurrency Bill 2021: Tax on trading, investment in cards, no outright ban; everything you need to know | Photo credit: iStock Images The government plans to subject cryptocurrency investments by Indian citizens on domestic and global platforms to tax coverage instead of an outright ban. The government plans to change existing tax laws to include […]

Transaction tax

Alta Energy: The Supreme Court of Canada rules on shopping under a tax treaty | Dentons

On November 26, 2021, the Supreme Court of Canada (“SCC”) issued its long-awaited decision in The Queen v. Alta Energy Luxembourg SARL1 . The majority of the Court dismissed the Crown’s appeal and confirmed that, where Canada has agreed in a double taxation treaty to cede taxing rights to another country, it cannot use the […]

Financial information

Switching to e-budgeting helps government address internal and external challenges: Ministry of Finance

Ehab Abu Eish, Deputy Finance Minister of the Public Treasury, said the ministry has laid the foundation for digital transformation in its overall concept, which includes reengineering, simplifying and automating procedures, in a way that is part of the modernization of the legislative structure and the development of the working environment. This has helped to […]

Transaction tax

Tax return: taxpayers can electronically verify their returns in 6 different ways

Last update of the income tax return: As many taxpayers have already filed their tax returns and many still do, it’s a good time for everyone to check their ITRs. Taxpayers should note that the final process of filing a tax return is to verify it. In accordance with income tax laws, if the user […]

Transaction tax

Four tax deductions you can forget to claim if you use pre-filled RTI forms

Don’t miss out on these benefits when filing your income tax returns New Delhi: If you file your income tax return (ITR) this year using the pre-filled forms, you may miss some tax deductions that are not reflected on your Form 26AS or your annual information return and, therefore, don’t get self-filled out on RTI […]

Transaction tax

From the tax law offices of David W. Klasing

More recently, the Treasury Department announced revisions to its plan to implement specific reporting requirements against domestic banks and continue to collect claims. FACTA-related information from offshore banks who have US taxpayer clients. These proposals have been strictly scrutinized by national and international banking communities and conservative lawmakers, but the IRS makes no secret that […]

Transaction tax

Briefing Notes for Nonprofits: Accounting Best Practices for Nonprofits | Business

Nonprofit organizations may be exempt from certain taxes, in particular federal income tax and state sales tax. However, the IRS has rules, similar to those for for-profit businesses, regarding accounting and bookkeeping practices. A 501 (c) (3) organization must keep its books and records over an annual accounting period called a tax year. This is […]

Transaction tax

Explained: How Redemption Using Retro Tax Refund Helps Cairn

UK oil and gas exploration company Cairn on Monday announced a share buyback program worth £ 20million (Rs 199.9 crore) ahead of a larger buyback program after the company closed. received approximately 7,900 crore of Rs $ 1.06 billion from the Indian government. We are reviewing the details of Cairn’s repayment and share repurchase plans. […]

Transaction tax

TCIP exempt from taxes – Business & Finance

ISLAMABAD: The Federal Government has exempted the Certificate of Trust Issuance Program (TCIP) from taxes and duties, to be issued under the Sukuk MTN program, aimed at accessing the international capital market, official sources said Business recorder. Sharing the details, sources said the Federal Cabinet, at its July 16, 2019 meeting, approved the establishment of […]

Transaction tax

Need tax relief? There are many ways to donate and save – Press Enterprise

The end of 2021 is fast approaching, so in addition to planning the holidays, it’s also time to think about our 2021 taxes. When President Joe Biden’s infrastructure bill becomes law, tax changes will be made to both individuals and businesses. If you’re a high net worth person, consider meeting with your estate planning lawyer […]

Financial basis

Students encouraged to file FAFSA soon

Students planning to attend Western Nevada College in the fall of 2022 should begin submitting their 2022-2023 Free Application for Federal Student Aid (FAFSA). The 2022-2023 FAFSA filing period opened on October 1, and financial aid officials are advising students not to wait.The earlier a student applies, the better their chances of receiving financial aid.“The […]

Transaction tax

Whose taxes are increasing? White House considers 4 ways to pay for spending package

Find out what clicks on FoxBusiness.com. Congress lawmakers are still in the process of reaching a deal over President Biden’s multibillion-dollar spending program that would increase funding for Infrastructure and clean energy, as well as social spending initiatives. The president said this week that he had agreed to cut the gigantic price tag by $ […]

Transaction tax

Dubai: Global tax deal will hurt Indians who moved trusts to UAE

Several wealthy Indians who have moved family trusts and portfolio entities to Dubai and Abu Dhabi amid the Covid-19 pandemic are now contacting their advisers fearing additional taxes, following the Organization’s new global tax deal for Economic Cooperation and Development (OECD) and the UAE’s plans to introduce more taxes. After all major countries, including the […]

Transaction tax

Banks urged to closely monitor tax crime transactions

Lawrence Agcaoili – The Filipino Star October 18, 2021 | 00h00 MANILA, Philippines – The Bangko Sentral ng Pilipinas (BSP) reminded banks to closely monitor and report suspicious transactions related to money laundering and terrorist financing as the country steps up efforts to be removed from the list gray of the Paris-based Financial Action Task […]

Transaction tax

UB Community Development LLC Announces Funding for Buc-ee Store in Auburn, Alabama

Posted: October 6, 2021 at 5:00 a.m. CDT|Update: 1 hour ago ATMORE, Ala., October 6, 2021 / PRNewswire / – UB Community Development, LLC (UBCD), a community development partner of United Bank, today announced the closure of a $ 7 million New Market Tax Credit Transaction with Buc-ee’s, Ltd., a Texaschain of convenience stores and […]

Transaction tax

Kansas Farmers Concerned About Biden Administration’s Proposed Tax Changes | national news

(The Center Square) – The Biden administration’s proposal to repeal the reinforced base and force recognition and taxation of capital gains on death is troubling to many Kansas farmers. “If the strengthened base is removed and the forced recognition of gain on death is implemented, along with a lower inheritance tax exemption, agricultural assets such […]

Financial basis

What you need to know about the FAFSA 2022-2023 application

Select’s editorial team works independently to review financial products and write articles that our readers will find useful. We may receive a commission when you click on product links from our affiliate partners. The free application for Federal Student Aid (aka FAFSA) opens October 1, 2021 for the 2022-2023 school year. And in a year […]

Financial transaction

Persistent Systems to acquire SCI, Shree Infosoft

Persistent will acquire 100% of these two companies for a cash payment of $ 53 million for SCI and $ 6.87 million for Shree’s US and Indian operations. Persistent Systems announced on Wednesday the acquisition of Software Corporation International (SCI) and its subsidiary Fusion360. Persistent also acquired New Jersey-based Shree Partners and its Indian subsidiary […]

Transaction tax

Bitcoin owners hit hard as revenue targets online currency

Revenue plans to crack down on traders who make huge profits from cryptocurrencies such as Bitcoin. More than half a million people in Ireland own digital currencies, a recent survey found. While these currencies operate outside the traditional banking sphere, the two state institutions have moved to warn traders that traditional taxation laws apply. Finance […]

Financial information

ENOCHIAN BIOSCIENCES: Discussion and analysis by management of the financial situation and the results of operations (form 10-K)

The following discussion of our financial condition and results of operations should be read in conjunction with our financial statements, and the related notes to those statements included elsewhere in this report. In addition to the historical financial information, the following discussion and analysis contain forward-looking statements that involve risks and uncertainties. Our actual results […]

Transaction tax

Crypto Investment ITR Filing: Should You Report Cryptocurrency Investments as Foreign Assets on Your Tax Return?

Most experts agree that gains or losses in cryptocurrency trading must be reported on your income tax return (ITR). However, it is not clear whether cryptocurrency investments should be reported in the ITR even though there has been no trade and no gain / loss from it. In accordance with the tax laws in force, […]

Transaction tax

Tax alert: the implications of the House Democrats’ tax proposal | Miles and Stockbridge PC

Big tax changes are on the way! President Biden, the House and the Senate all seem to have their own agendas, but the proposal put forward by the House Ways and Means Committee (the “Proposal”) is a good starting point for predicting what might be our future. Corporate and corporate tax reforms Corporate tax rate: […]

Financial basis

Medical Properties Trust and HCA Healthcare agree to 15-year head lease for hospitals representing $ 1.2 billion in MPT assets

BIRMINGHAM, Alabama – (COMMERCIAL THREAD) – Medical Properties Trust, Inc. (the “Company” or “MPT”) (NYSE: MPW) today announced that it has entered into an agreement to lease substantially all of its Utah hospitals to HCA Healthcare (“HCA Healthcare”) (NYSE: HCA), following an agreement entered into by HCA Healthcare to purchase the operations of five Utah […]

Transaction tax

Your Questions: Income Tax: The Indexing Benefit Is About Long-Term Gains From Debt Mutual Funds

Please note that debt mutual funds are classified as long term if held for more than 36 months, while equity-focused funds are considered long term if held for more than 12 months. . By Chirag Nangia From the mutual fund website, I downloaded my capital gains statement. However, I am confused about how much LTCG […]

Transaction tax

Opinion: Does our taxation voluntarily benefit the rich? | Chroniclers

Sounds like a squeeze for shady declarers, doesn’t it? Those who engage in listed transactions may disclose their abusive transactions in their tax return, a decision that will almost certainly trigger an audit. Or they can omit the disclosure and risk a huge penalty. But there is a catch. Section 6707A carries a maximum penalty. […]

Financial basis

B2Gold updates third quarter 2021 dividend payment date

VANCOUVER, BC, September 14, 2021 / PRNewswire / – B2Gold Corp. (TSX: BTO) (NYSE AMERICAN: BTG) (NSX: B2G) (“B2Gold” or the “Company”) announced on September 10, 2021 that its board of directors (the “Board”) declared its third quarter 2021 cash dividend of $ 0.04 per common share. The Company has updated the dividend payment date […]

Transaction tax

How Uber Australia is filling a Dutch cash pool and why it is battling an $ 81.5 million payroll tax bill

Uber Australia continued its long-standing practice of sending income to its parent company in the Netherlands. Key points: Uber financial accounts show Uber Australia Holdings directors for the year 2020 were its own tax advisers The company sends much of its locally earned income to its Dutch parent company, which it describes in its accounts […]

Transaction tax

Digital taxation proposal: why it’s complicated and not good for India

The July 1 OECD (Organization for Economic Co-operation and Development) proposal for digital taxation is not good news for India, nor for market countries (CoM). By CoMs, we mean countries where digital companies market their services, but do not have their head office or permanent establishment (PE). This will amount to a substantial loss of […]

Financial information

Weekend preview: I haven’t been everywhere, but it’s on my list

My daughter is putting the finishing touches on our virtual day in Buenos Aires. The menu is still a secret, but I hope our additional activities include the cyber city tour and learning to tango. A male Colombian tourist poses with an Argentine professional tango dancer in Florida Street, Buenos Aires. Photographer: JUAN MABROMATA / […]

Transaction tax

MARCUS & MILLICHAP: Management report and analysis of the financial situation and operating results (form 10-Q)

Unless the context requires otherwise, the words “Marcus & Millichap,” “MMI,” “we,” the “Company,” “us” and “our” refer to Marcus & Millichap, Inc., and its other consolidated subsidiaries. Forward-Looking Statements The following discussion contains forward-looking statements that involve risks and uncertainties. Our actual results could differ materially from those anticipated in these forward-looking statements as […]

Transaction tax

Lok Sabha passes retrospective tax bill amid opposition protests against Pegasus and other issues

A view of Lok Sabha during the monsoon session of Parliament, New Delhi, August 6, 2021 | PTI Text size: A- A + New Delhi: Lok Sabha was adjourned for the day shortly after noon Friday after the passage of two bills, including one that proposes to end a controversial retrospective tax policy, amid protests […]

Financial transaction

Trinseo to acquire Aristech Surfaces LLC as part of its transformation into a supplier of specialty materials and sustainable solutions

BERWYN, PA – (COMMERCIAL THREAD) – Trinseo (NYSE: TSE), a global materials company and manufacturer of plastics, latex binders and synthetic rubber, today announced that it has entered into an agreement with SK AA Holdings, LLC, a subsidiary of Falcon Private Holdings, LLC (“Falcon”), to acquire Aristech Surfaces LLC (“Aristech”), a leading North American manufacturer […]

Transaction tax

The government collects Rs 1.01 lakh cr from excise, Rs 2.41 lakh cr from income tax in the first quarter

The government collected over Rs 1.01 lakh crore in excise duties during the April-June period, while the collection of direct taxes stood at over Rs 2.41 lakh crore, the government said on Monday. Ministry of Finance. Giving details of the taxes collected, Minister of State for Finance Pankaj Chaudhary in Lok Sabha said that Rs.41,831 […]

Transaction tax

Income Tax News | CBDT grants additional flexibility in electronic filing of foreign income tax remittances

CBDT grants additional flexibility in electronic filing of foreign income tax remittances New Delhi: The Central Commission for Direct Taxes (CBDT) has further extended the electronic filing of 15CA / 15CB income tax forms. Taxpayers can now fill out the 15 CA and 15 CB forms manually until July 15, the finance ministry said. The […]

Transaction tax

Companies do not need to deduct TDS on purchases of stocks / commodities through exchanges: CBDT

Companies that buy stocks or products traded through recognized stock or commodity exchanges for a value even greater than Rs 50 lakh will not be required to deduct withholding tax (TDS) on the transaction, a declared the income tax service. With effect from July 1, 2021, the income tax department introduced a provision relating to […]

Transaction tax

New opportunities for intergenerational business transfers after the adoption of Canada’s Bill C-208

TORONTO – Bill C-208, An Act to amend the Income Tax Act (transfer of small business or family farming or fishing corporation), received Royal Assent and became law in Canada on June 22, 2021. Bill C-208 was a private member’s bill aimed at leveling the tax burden on small business owners making intergenerational transfers of […]

Bookkeeping

Conviction of the CPA for Conspiracy and Assisting in the Filing of False Statements Confirmed

A Boston Federal Court of Appeals upheld the jury’s conviction of a CPA for filing a false income tax return, despite the CPA’s claim that he relied on information provided by his client and the accountant of his client. The CPA, John Nardozzi, had over 40 years of experience. He provided income tax and income […]

Transaction tax

Tax changes for the benefit of certain companies considering intergenerational transfers of shares

The blog post explained that s. 55 (2) of the Income Tax Act (Canada) treats transactions, which would ordinarily be considered dividends, as taxable capital gains in certain situations, but corporations can avail themselves of an exception and avoid this requalification if they comply with the rules of the art. 55 (3) (a). Although by […]

Bookkeeping

“Bounce Loans” – small business aid and income support for those lacking elsewhere, for example directors of limited liability companies and the self-employed

Martin’s analysis: ‘This is not ideal, but you can turn these loans into your own government income support program.‘ MSE founder Martin Lewis said: “While millions of self-employed people are covered by the government’s income support program, huge swathes are ineligible and receive no assistance. This includes those who started a business after around September […]