News
Taxing the taxed
6+ hour, 26+ min ago (487+ words) This is evident from the recent increase in the tax-to-GDP ratio, from 9. 3 per cent of GDP in FY23 to 11. 1pc in FY25. Much of this improvement has come from further squeezing an already narrow tax base. The overall income tax incidence on the…...
The continuing race for exemption resembles a moral hazard
3+ hour, 15+ min ago (207+ words) by Michele Meoli and Stefano Paleari There are probably two reasons behind these choices. The first is to attract students, since part of the public funding depends on regular enrolments, in a context marked by denatality, telematic universities and international…...
IRS Reinstates "Significant Issue" Letter Rulings for " 355 Spin'Offs and Reorganizations
6+ day, 15+ hour ago (82+ words) IRS Rev. Proc. 2026-21, 2026-22 IRB 1, issued May 5, 2026, reinstates the Internal Revenue Service's "significant issue" letter ruling program, under which the IRS will rule on specific, significant issues posed by a transaction without ruling on the entire integrated transaction. .. .By: Fenwick & West…...
Administering an Estate That Owns a Business: Duties, Risks, and Immediate Steps for Executors
3+ week, 3+ day ago (641+ words) Administering an estate that owns a business presents unique challenges for executors in both New Jersey and Pennsylvania, where the obligations of estate administration intersect with the operational and financial demands of an ongoing enterprise. .. .By: Stark & Stark Administering an…...
IRS Proposed Changes to Voluntary Disclosure Program
4+ day, 18+ hour ago (508+ words) On December 22, the Internal Revenue Service (IRS) announced proposed updates to its Criminal Investigation Voluntary Disclosure Practice (VDP), opening a 90-day public comment period that closed on March 22. Revised procedures are expected to take effect six months after the changes…...
In Liberty Global, the Tenth Circuit Leaves Taxpayers with an Opinion with Unresolved Questions
5+ day, 15+ hour ago (114+ words) Procedural History " the District Court Opinion The Tenth Circuit framed the question for decision narrowly as whether the economic substance doctrine was relevant to Project Soy, and if so, did Project Soy meet the requirements of the economic substance doctrine…...
Power Grid Profit Jumps on Tax Benefit; Operations Decline
37+ min ago (10+ words) Whalesbook...
Centre revises customs duty on precious metals; new rates effective from May 13
8+ hour, 39+ min ago (542+ words) Feedback | Monday, May 18, 2026 13/05/26 | 10: 59 am | Ministry of Finance The Centre has revised customs duty rates on precious metals and jewellery findings, with the new rates coming into effect from May 13, according to a notification issued by the Ministry of Finance. Under…...
Punjab govt takes strict action against businesses not following tax rules
12+ hour, 43+ min ago (261+ words) The Punjab Revenue Authority (PRA) has heightened its enforcement measures against businesses that have not registered for sales tax and those engaged in tax non-compliance throughout the province. According to a spokesperson for the PRA on Sunday, Enforcement Officers executed…...
Budget proposal unveiled this week, public hearing June 1
12+ hour, 34+ min ago (152+ words) CONCORD " Cabarrus County Commissioners will hold their monthly Regular Meeting on Monday, May 18, at the Cabarrus County Government Center in downtown Concord. A Charlotte-based real estate firm has partnered with the longtime owners of Gibson Mill to recapitalize and expand…...