Author: News Desk

The General Tax Authority (GTA) has once again urged all registered taxpayers, companies, and institutions in Qatar to submit their 2024 tax returns via the Dhareeba Tax Portal before the final deadline of August 31, 2025, to avoid any penalties or legal action due to late filing. This requirement applies to all businesses and licensed entities, including tax-exempt organizations, companies fully owned by Qatari or GCC nationals, and firms with foreign partners. Timely submission ensures compliance with the provisions of the Income Tax Law (Law No. 24 of 2018), its executive regulations, and amendments. The GTA emphasized that the 100%…

HM Revenue & Customs (HMRC) has reinforced that taxpayers who fail to settle their tax liabilities on time may face progressively increasing penalties under Schedule 56 FA 2009. The rules apply to a wide range of taxes, including PAYE, National Insurance Contributions (NICs), Income Tax, Capital Gains Tax (CGT), Construction Industry Scheme (CIS), Bank Payroll Tax, and excise duties such as SDIL and Plastic Packaging Tax (PPT). How Late Payment Penalties Work A penalty is triggered if a taxpayer does not pay the full amount by the due date, unless there is a reasonable excuse. Once the excuse ends, payment…

SMRT Trains, a subsidiary of Singapore’s Temasek Holdings, saw its financial performance impacted by a six-day disruption on the East-West Line (EWL) in September 2024, which led to an 8% dip in its profit after tax for the 2024/2025 financial year. Key Points: EWL Breakdown Impact The disruption during the six-day period on the East-West Line severely affected the train network, leading to operational disruptions and financial strain. The disruption directly impacted about one-sixth of daily train trips, reducing SMRT’s potential revenue from fares. Performance Analysis: Future Outlook: For further details, clarification, contributions, or any concerns regarding this article, please…

Summary: Key Points: Political Fallout: Economic Outlook: For further details, clarification, contributions, or any concerns regarding this article, please get in touch with us at editorial@tax.news. We value your feedback and are committed to providing accurate and timely information. Please note that our privacy policy will handle all inquiries.

The OECD has released a second batch of updated transfer pricing country profiles. These profiles provide new insights into hard-to-value intangibles and simplified distribution rules in 12 jurisdictions, including Austria, Belgium, Canada, Ireland, Latvia, Lithuania, Mexico, Netherlands, New Zealand, Singapore, South Africa, and Spain. Key Updates in Transfer Pricing Profiles The updated country profiles focus on key transfer pricing aspects within each jurisdiction’s domestic tax legislation, including: This release introduces new sections on the hard-to-value intangibles approach and a simplified distribution model under the framework of Amount B—part of the OECD’s Two-Pillar Solution addressing tax challenges arising from the digital…

After growing 61% over 15 years, the city of Ivins, Utah is proposing a 34% property tax increase to address a $540,000 budget shortfall. Despite a booming population, local revenue has remained flat due to Utah’s Truth in Taxation law, which automatically adjusts tax rates downward as property values rise—preventing automatic revenue growth. Why the Hike Now? Ivins has avoided property tax increases for over 15 years, relying on pandemic relief funds and resourceful budgeting. But with inflation slashing purchasing power and the city now serving 61% more residents, Mayor Chris Hart says they’ve reached a tipping point. The proposed…

In a concerted effort to support the localization of government jobs and empower Qatari talent, the General Tax Authority (GTA), in collaboration with the Civil Service and Government Development Bureau, recently launched a targeted recruitment campaign. This initiative, aimed at candidates from the “Kawader” platform, underscores the government’s ongoing commitment to fostering national workforce development and ensuring the participation of skilled Qatari professionals in key sectors. The campaign featured instant interviews for more than 50 candidates applying for roles at the Authority. Senior officials from both the Civil Service and Government Development Bureau were present to oversee the interviews, further…

The second installment payment period for the 2025 Motor Vehicle Tax (MTV) began on July 1, 2025, and will end on July 31, 2025. Taxpayers can now easily check and pay their MTV obligations through several digital platforms, providing a convenient and accessible method for settlement. To view and pay your MTV debts, you can visit the Digital Tax Office (dijital.gib.gov.tr) without needing to enter a password. Simply provide your vehicle license plate number, Turkish Identity Number (TC Kimlik No.), and either the Registration Date or Ownership Document Date. Payment Methods: Important Notice: To ensure no payment-related issues arise, make…

President Donald Trump announced a new tariff measure imposing a 25% duty on imports from India effective August 1, 2025. The announcement also included an unspecified additional “penalty” targeting India’s trade relations with Russia. This tariff is slightly lower than the 26% rate previously imposed during Trump’s “liberation day” tariff initiative but remains at the higher end of the 20-25% range he had been considering. The President justified the tariff citing India’s high tariff barriers and restrictive trade policies, which he described as “among the highest in the world” with “strenuous and obnoxious non-monetary trade barriers.” Background and Key Details…

Michigan voters may soon face a pivotal decision regarding a significant overhaul of the state’s income tax structure. A progressive-backed ballot initiative proposes introducing a 5 percent surtax on individuals earning more than $500,000 annually and joint filers with incomes exceeding $1 million. This measure aims to substantially increase funding for K-12 education by raising the state’s top income tax rate from the current flat 4.25 percent to an elevated 9.25 percent. While the objective of enhancing education financing is widely supported, the proposed tax increase could have unintended economic consequences. If enacted, Michigan’s top marginal rate would place it…