Author: News Desk

Kazakhstan’s government has taken a significant leap forward in tax administration with the phased rollout of its innovative digital tax system, СӘИЖ СТК. This new system, designed to streamline tax compliance and enhance user experience, will fully replace the older Taxpayer Cabinet starting January 13, 2025. Here’s what taxpayers need to know about this transition. What is СӘИЖ СТК? The СӘИЖ СТК (New Taxpayer Cabinet) is part of Kazakhstan’s broader initiative to modernize tax administration. It will serve as the centralized platform for all tax-related communications, ensuring faster and more efficient processing of tax documents and notifications. Starting January 13,…

The Thai cabinet has taken a significant step by approving a draft law aimed at legalizing casinos within the country. Influential political figure Thaksin Shinawatra, the former Prime Minister, emphasized the economic benefits that could derive from this move, suggesting that online gambling alone could generate as much as 100 billion baht (approximately $2.88 billion) annually in tax revenue for the government. At a recent event in Bangkok, shortly after the cabinet’s approval, Thaksin highlighted the existing popularity of online gambling among Thai citizens, estimating that there are between two to four million users engaged in these activities. He elaborated…

The United States has faced a significant housing crisis over the past twenty years, leading to a substantial deficit of homes. This shortfall has resulted in rising housing costs, particularly impacting working families who find it increasingly difficult to afford homes near their workplaces. In response to this pressing issue, the Bipartisan Policy Center’s J. Ronald Terwilliger Center for Housing Policy has collaborated with Novogradac to develop a strategic report. This report outlines design recommendations for a new pilot renter tax credit program aimed at assisting working families in securing affordable rental housing in well-served neighborhoods, particularly those with strong…

In a recent address in Ottawa, Canada’s Foreign Affairs Minister, Mélanie Joly, issued a stark warning regarding proposed tariffs by President-elect Donald Trump. If Trump proceeds with his threat to impose a sweeping 25% tariff on Canadian goods, Joly asserted that American consumers would bear the brunt, facing what she described as a “Trump tariff tax.” Canada is poised for action, with Joly emphasizing the country’s readiness to respond decisively to any trade restrictions. “If necessary, we will retaliate,” she stated after meeting with U.S. senators in Washington, alluding to the economic consequences that would follow. Trump’s suggestion of imposing…

In a significant step towards renewable energy, the Danish Government and the Government of Greenland have formalized an agreement to finance a transformative hydro power project at Buksefjorden, Greenland. Signed by Denmark’s Minister of Finance Nicolai Wammen and Greenland’s Minister of Finance and Taxes Erik Jensen, this collaboration underscores a shared commitment to combating climate change and promoting sustainable development. A Vision for Green Energy in Greenland The Buksefjorden hydro power project is poised to revolutionize Greenland’s energy landscape. By providing a reliable supply of green electricity to Nuuk, Greenland’s capital, the project will support the country’s overarching goal of…

Estonia’s Tax and Customs Board (ETCB) has started notifying vehicle owners about the country’s new motor vehicle tax, a significant change introduced in 2025. This annual tax is part of broader legislation aimed at managing road usage and encouraging environmental responsibility. Notifications have been sent via email, text message, and the e-MTA e-services portal, with the first payment deadline set for June 16, 2025. How the New Motor Vehicle Tax Works The tax is calculated based on data from the Transport Administration’s motor register as of January 1, 2025. It applies to all vehicles registered under an individual or authorized…

Nakhchivan, a region renowned for its innovative governance, has taken another leap forward with its tax system modernization efforts. In 2024, consumers received 2.3 million manats in VAT refunds under the “Get Your VAT Back” initiative, reflecting a 68% increase compared to 2023. This milestone showcases the program’s growing popularity and effectiveness. The initiative, implemented by the State Tax Service under the Ministry of Economy, complements the region’s efforts to modernize cash register systems. In 2024, transactions recorded through these systems reached an impressive 404.5 million manats, a 1.7-fold increase from the previous year. This achievement underscores Nakhchivan’s commitment to…

Kuwait is taking a bold step toward economic reform with the introduction of a new tax law targeting multinational companies (MNEs). Announced at a recent conference under the patronage of Minister Noura Suleiman Al-Fassam, this legislation is designed to align Kuwait with global tax standards and attract foreign investments — a crucial part of Kuwait Vision 2035. Key Goals of the New Law This law aims to reduce Kuwait’s reliance on oil revenues by encouraging business diversification and enhancing the competitiveness of the local market. By aligning with the OECD’s global tax standards, it seeks to curb tax evasion, foster…

The Ministry of Finance (MOF) in Taiwan has announced an extended deadline for business tax payments covering the fourth quarter of 2024 and January 2025. This adjustment accommodates the Lunar New Year holidays, a key cultural celebration across the region, which take place from January 25 to February 2, 2025. To ensure businesses can settle their taxes without pressure during the festive period, the payment window has been extended to run from February 14 to February 24, 2025. Since February 23 is a Sunday, the final payment date has been set as February 24, 2025, allowing an additional day for…

The Bureau of Internal Revenue (BIR) of the Philippines has released Revenue Regulations No. 3-2025, introducing key updates to tax compliance procedures. These regulations aim to streamline tax reporting and collection, focusing on digital processes, enhanced transparency, and accurate submission. Businesses and individuals are urged to familiarize themselves with the updates, as non-compliance may result in penalties. Key Updates to Watch Why This Matters These changes are part of the Philippine government’s broader efforts to modernize its tax system. By transitioning to digital solutions and tightening compliance, the regulations aim to boost revenue collection while supporting businesses with more efficient…