Author: News Desk

A new tax targeting mechanical skill-based gaming machines officially took effect in Nebraska on July 1, 2025, marking a significant change in the state’s approach to gaming taxation. The new law imposes a 5% tax on the net operating revenue of these machines, which are commonly found in gas stations, cafes, bars, and social halls throughout the state. Unlike games of chance such as keno or bingo, these machines rely on a player’s skill and decision-making, and have become increasingly popular in recent years. Currently, more than 5,800 machines are registered across Nebraska, and all are subject to the new…

More than two dozen UK businesses, charities, and community groups are calling on the government to abolish VAT on repaired and refurbished electronics, arguing it would make sustainable products more affordable and help tackle the growing e-waste crisis. In a joint letter to Environment Secretary Steve Reed, the coalition says cutting VAT would: Currently, refurbished electronics sold by businesses in the UK are taxed at the same rate as brand-new goods — a policy campaigners argue makes repairs less attractive. Growing Support Across Sectors Katy Medlock, UK general manager at Back Market, a leading refurbished tech platform, said: “Cost is…

The Bolivian National Tax Service (Servicio de Impuestos Nacionales, SIN) is making a prominent appearance at La Paz Expone 2025, presenting its extensive digital tax infrastructure to the public through an interactive exhibit. During the 11-day trade fair, SIN is showcasing over 80 interconnected systems, applications, and modules that are part of the Integrated Tax Administration System (SIAT en Línea)—Bolivia’s flagship digital tax compliance platform. The SIN’s exhibit opened officially at 8:00 PM on July 3, 2025, at the Chuquiago Marka Exhibition Center in La Paz. The SIN occupies booths 69, 70, 71, 74B, and 75 in the Red Block…

Experts Challenge Accuracy of SSA’s Messaging on Trump Administration’s New Tax Bill In an unprecedented turn of events, the U.S. Social Security Administration (SSA) is facing significant backlash following the circulation of an official email that claims President Trump’s newly signed spending bill eliminates federal income taxes on Social Security benefits for most recipients. However, legal and policy experts argue that this claim is not only misleading but factually incorrect. The legislation in question—dubbed by President Trump as the “one big, beautiful bill”—was passed via budget reconciliation, a procedural route that limits the scope of legislative changes, particularly concerning permanent…

Automatic Adjustment of Fixed SCT Amounts Tied to Domestic Producer Price Index Turkey’s Ministry of Treasury and Finance has announced an automatic adjustment to Special Consumption Tax (SCT) amounts, following a scheduled inflation-linked recalculation based on Article 12, Paragraph 5 of Law No. 4760 on Special Consumption Tax (ÖTV). In accordance with the law, specific fixed tax amounts listed under Schedule I of the SCT law, or the most recent amounts adjusted by Presidential Decree, are automatically revised in January and July each year. This adjustment is directly tied to the change in the Domestic Producer Price Index (D-PPI) over…

Property taxes in Leon County continue their upward trend for the third consecutive year, as the latest preliminary tax roll from the Leon County Property Appraiser’s Office reveals. Akin Akinyemi, the Property Appraiser, recently submitted the updated figures to the Florida Department of Revenue and local taxing authorities, showing a near 5% rise in market values compared to the previous year. The newly calculated property tax increase of 5.4% marks a moderation from last year’s 7.3% hike. According to Akinyemi, this adjustment aligns more closely with the county’s historical average appreciation range of 3% to 5% annually. Despite an increase…

Indian cryptocurrency traders are facing increased costs following the implementation of an 18% Goods and Services Tax (GST) by crypto exchange Bybit. The move comes amid India’s tightening regulatory framework for digital assets, signaling significant changes in the country’s crypto ecosystem. Effective July 7, 2025, Bybit announced it would apply the mandated 18% GST on various service and trading fees for Indian residents. This tax applies to spot and margin trading, derivatives, fiat transactions, and crypto withdrawals. Fees and GST deductions are taken directly from users’ transaction proceeds. For example, a sale of 1 BTC valued at 100,000 USDT will…

Foreign investors have reportedly avoided approximately 99 billion yen (around $690 million) in Japanese taxes between 2020 and 2022 by routing investments through Singapore, leveraging a long-standing treaty loophole. According to sources familiar with Japanese tax authorities and investigative reporting by Nikkei, this strategy enables investors to benefit from dual corporate and dividend tax breaks. The practice involves foreign investors channeling capital through tax havens such as the Cayman Islands to Singapore, where these funds are injected into a specific Japanese corporate vehicle called a tokutei mokuteki kaisha (TMK), or special-purpose company. The treaty between Japan and Singapore, which has…

In a significant policy shift aimed at easing housing affordability, Canada’s federal government has proposed a new Goods and Services Tax (GST) rebate specifically for first-time home buyers. Introduced through Bill C-4 on June 5, 2025, this rebate is designed to provide targeted relief to eligible buyers of new residential properties. If enacted, the First-Time Home Buyer GST Rebate (FTHB GST Rebate) would apply retroactively to qualifying agreements signed on or after May 27, 2025. What the Proposed Rebate Offers Under the proposed legislation: This measure mirrors certain elements of the existing GST/HST New Housing Rebate, but with tightened rules…

The recent U.S. decision to eliminate the longstanding tax exemption on low-value imports from China has triggered a sharp decline in air cargo volumes between Asia and North America. This policy shift, effective from May 2, 2025, marks the end of the “de minimis” tax exemption — a provision that previously allowed packages valued under $800 to enter the U.S. duty-free. Key Impacts on Air Cargo and E-Commerce Trade The International Air Transport Association (IATA) reported a 10.7% year-over-year drop in air cargo demand from Asia to North America for May 2025, signaling the disruptive impact of the new tariff…