Author: News Desk

Japan’s ruling Liberal Democratic Party (LDP) has unveiled a proposal to significantly reduce the country’s capital gains tax on cryptocurrency, from the current rate of 55% to 20%. This ambitious tax reform is part of a broader initiative to overhaul the country’s cryptocurrency regulations and position Japan as a competitive global hub for digital asset investment. The proposal, which was released in a draft document on March 6, 2025, seeks to address both the rapid growth of Japan’s crypto market and its evolving regulatory landscape. Japan was one of the first countries to introduce cryptocurrency regulations following the 2014 Mt.…

In a bold new move, the Australian government is taking aim at some of the world’s most powerful tech companies, Meta, Google, and TikTok, with a proposed tax designed not to raise revenue, but to force their hand. Set to take effect on January 1, 2026, the legislation targets digital platforms that rake in more than AU$250 million (about USD $159 million) in annual Australian revenue, yet do not strike commercial deals with local news publishers to compensate them for the use of their content. The measure marks the latest escalation in Australia’s ongoing battle to level the playing field…

This November, Washington voters will decide whether the state can invest payroll taxes collected for its long-term care program, WA Cares Fund, in the stock market, a move aimed at increasing returns and ensuring the program’s sustainability. The Washington State Legislature has approved a ballot measure proposing a constitutional amendment that would allow the WA Cares Fund, which now holds more than $1.64 billion in assets, to be invested in the same way as the state’s pension funds. If approved, the Long-Term Services and Supports Trust account would join a short list of public funds exempt from Washington’s constitutional ban…

The Federal Board of Revenue (FBR) has recorded a major milestone in revenue performance, posting a 30% month-on-month growth in tax collection for April 2025. This outpaces the already strong 28% growth achieved up to March. Key Highlights: This performance reflects FBR’s continuing focus on broadening the tax base, improving compliance, and modernizing systems to meet the country’s growing fiscal needs. 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…

In a bid to enhance international cooperation, the General Tax Authority (GTA) of Qatar and the Federal Tax Service of Russia held a virtual meeting to discuss technical cooperation, digital innovation, and modern tax policies. The meeting, chaired by H.E. Mr. Khalifa bin Jassim Al-Jaham Al-Kuwari, President of the GTA, and H.E. Mr. Daniil Egorov, Commissioner of Russia’s Federal Tax Service, focused on expanding coordination between the two countries, particularly in adopting digital technologies in tax administration. During the meeting, both sides highlighted the importance of sharing expertise in tax compliance, implementing international standards, and embracing digital transformation in tax…

The U.S. officially closed a trade loophole that had, until now, quietly shaped the American online shopping experience. Known as the “de minimis” exemption, this rule allowed packages valued under $800 to enter the U.S. duty-free and largely inspection-free. The primary beneficiaries? Ultra-low-cost Chinese platforms like Shein, Temu, and AliExpress. The new tariffs on these shipments will now range from a baseline 120% to 145%, depending on the courier and shipping channel.Read More: Goodbye Tax-Free Shopping: Shein & Temu Face EU Tariff Overhaul Why It Matters This isn’t just a customs code tweak. It’s a seismic shift in how trade…

The City of Tshwane’s proposed “City Cleansing Levy” might be dressed as a municipal housekeeping fee, but for residents and property owners, it smells more like a backdoor tax. The R185-a-month charge for households and R194.37 for large vacant land parcels has sparked a firestorm, with civil groups calling foul on both legal and moral grounds. Why it Matters In a country where municipal mismanagement and service delivery failures are routine headlines, this levy feels less like governance and more like desperation. Residents already pay for waste collection; either through the city or private providers. Now, many face the possibility…

India’s online gaming sector, once hailed as a burgeoning industry, now finds itself entangled in a complex tax dispute. The Directorate General of GST Intelligence (DGGI) has issued a ₹5,712 crore tax demand to Paytm’s subsidiary, First Games Technology, asserting a 28% Goods and Services Tax (GST) on total entry amounts from January 2018 to March 2023. This move aligns with a broader trend, as over 70 similar notices totaling ₹1.12 lakh crore have been dispatched to various gaming firms and casinos.India’s GST Revenues Surge in April The crux of the matter lies in the retrospective application of the GST…

In a move that has sent shock waves through the academic community, President Donald Trump announced plans to revoke Harvard University’s tax-exempt status. This unprecedented action underscores a growing tension between political authority and academic independence, raising critical questions about the future of higher education in the United States. Trump’s decision is not merely an administrative maneuver; it’s a strategic assertion of political influence over academic institutions. By targeting Harvard, a symbol of elite education and liberal thought, the administration signals a broader intent to challenge what it perceives as ideological homogeneity in higher education. This aligns with previous actions,…

With the annual May 15 deadline fast approaching, the Internal Revenue Service (IRS) is reminding tax-exempt organizations to review their filing requirements, ensure accurate submissions, and avoid penalties by using the correct forms. Tax-exempt entities, including charities, nonprofits, and certain political organizations, must generally file their annual return or notice by the 15th day of the fifth month after the end of their accounting period. For calendar-year filers, that means May 15, 2025. The IRS emphasizes the importance of timely and accurate filing, highlighting key documents such as: Organizations are also reminded to review their eligibility to file each form…