Author: News Desk

Ansumana Bojang, Customs Manager at The Gambia Revenue Authority (GRA), is taking a pivotal role in the global fight against illicit trade by representing The Gambia in Operation LYNX Africa, a high-level enforcement initiative organized by the World Customs Organization (WCO) in Mombasa, Kenya. The expansion of Operation LYNX into Africa marks a significant milestone in strengthening customs enforcement across the continent, as illicit trade continues to undermine economic stability and revenue generation efforts. Operation LYNX Africa, which ran from March 3 to March 8, 2025, brought together customs officials and trade enforcement agencies to coordinate strategies aimed at detecting,…

The Federal Tax Authority (FTA) has issued a crucial reminder for all registrants who have not yet updated their tax records: an extended grace period is now in effect. Submissions made before the end of March 2025 will not face administrative penalties, providing a welcome relief for businesses. In its announcement, the FTA emphasized the importance of maintaining accurate tax records, in line with the Cabinet Decision on the Executive Regulations of the Federal Decree-Law on Tax Procedures. Registrants are required to inform the FTA of any changes to their information within 20 business days using the approved forms and…

With just 16 days left, Rasha Abdel Aal, the Head of the Egyptian Tax Authority (ETA), has reminded taxpayers that the deadline for submitting individual tax returns is fast approaching. Individuals have until March 31, 2024, to file their returns, while companies have until April 30, 2024. In a recent announcement, Abdel Aal emphasized the Ministry of Finance’s dedication to fostering voluntary tax compliance. To assist taxpayers in this endeavor, the ETA has unveiled a robust support program that includes daily free seminars conducted by experienced instructors. These sessions aim to help taxpayers and accountants navigate the electronic filing process…

With just a month remaining until the April 15 deadline for the 2025 tax filing season, taxpayers across the United States may be feeling the crunch. As of March 7, 2025, new data from the Internal Revenue Service (IRS) reveals that while the total number of returns filed is lower compared to the same period last year, the average refund has seen an encouraging increase of 5.7%. These developments are highlighted in the latest IRS statistics. Despite this optimistic news regarding refunds, it’s important to note that tax season can be a source of considerable stress. A survey conducted by…

Canadian churches and religious organizations are expressing apprehension regarding recent recommendations put forth by the Standing Committee on Finance. These recommendations suggest revoking the tax-exempt status of pro-life and faith-based charities, a move that could significantly impact the fabric of Canadian society. As Canada welcomes a new Prime Minister, Mark Carney, who assumed office on March 14 following his election as leader of the Liberal Party, he faces immediate challenges. Carney, a former banker and the previous head of the central banks in Canada and the United Kingdom, steps in after Justin Trudeau’s resignation earlier this year after a decade-long…

Filing taxes can often feel overwhelming, with a flurry of questions buzzing in your mind: Am I completing my return correctly? Have I used the appropriate forms? Am I overlooking something important? The good news is that the IRS understands the complexities of tax laws and acknowledges that many of the most frequent errors taxpayers make are quite simple. Mistakes such as an incorrect Social Security number or forgetting to sign your tax return can lead to frustrating delays in receiving your refund. Even more concerning, failing to claim all the credits and deductions available to you might mean leaving…

Douglas County’s attempts to provide a $28 million property tax relief to its homeowners have been thwarted by a recent ruling from a Denver District Court judge. Judge Ericka F. H. Englert confirmed that the State Board of Equalization’s decision to block the proposed tax break was valid and properly considered, marking a setback for the county’s lawsuit. This ruling follows a previous decision that largely dismissed Douglas County’s litigation last year. The county’s initiative aimed to ease the financial burden on homeowners after significant increases in property valuations throughout the state. In September 2023, the Douglas County Commission made…

The Internal Revenue Service (IRS) has announced a significant relief initiative for individuals and businesses in West Virginia affected by severe storms, flooding, and landslides that began on February 15, 2025. This decision aims to alleviate the financial burden on those struggling to recover from these devastating events. Importance of the IRS Relief Initiative For many in West Virginia, the IRS’s extension of tax deadlines is a crucial lifeline during a challenging time. The severe weather earlier this February led to widespread destruction, prompting West Virginia Governor Patrick Morrisey to declare a state of emergency. The declaration detailed incidents of…

Advance tax payments are a critical obligation for taxpayers with a total tax liability exceeding ₹10,000 in a financial year. While salaried individuals typically rely on their employers to deduct Tax Deducted at Source (TDS), it’s important to note that if TDS is not accurately calculated, employees may still face penalties under Sections 234C and 234B. This situation can arise even if TDS appears to be deducted appropriately by their employer. Key Information: Due Dates for Advance Tax For the financial year 2024-25, the deadline for the final quarterly installment of advance tax is March 15, 2025. The Income Tax…

In a significant move to uphold accountability and safeguard taxpayer resources, the U.S. House of Representatives has overwhelmingly passed bipartisan legislation to extend the prosecution period for pandemic-related unemployment insurance (UI) fraud. This decision comes just 16 days before the current statute of limitations expires. The passed bill, known as the Pandemic Unemployment Fraud Enforcement Act, allows law enforcement agencies to extend the prosecution window from five to ten years. The objective is to bring perpetrators of unemployment benefit theft to justice and recover billions of dollars lost to fraud. The legislation aligns with former President Trump’s directive to reclaim…