IRS Sets §280E Tax Guidance as 2026–2027 Priority Under 26 U.S.C. §280E
The Treasury Department and Internal Revenue Service added cannabis tax guidance to their annual priorities, placing it on…
57th GST Council Meeting Takes Up Decriminalisation and Input Tax Credit Relief
The GST Council is scheduled to meet on October 8, 2026, in New Delhi. Proposed measures include removing…
Ginhawa Act: Win Gatchalian Pushes Senate Bill No. 56 to Raise Income Tax Exemption Threshold
The GINHAWA Act, proposed in Senate Bill No. 56, would raise the income-tax exemption threshold to ₱400,000 and…
IRS and Treasury Set Guardrails on Section 351 for Etfs Under Revenue Ruling 2026-20 and Notice 2026-62
A new Treasury and IRS ruling says a planned contribution of appreciated securities to an ETF followed by…
Treasury Secretary Scott Bessent Backs IRS Revenue Ruling on Section 351 Conversion
New Treasury and IRS guidance targets prearranged ETF transactions that shift appreciated securities into different holdings without immediately…
Amendment 87 Would Create Graduated System with Higher Tax Rates for Highest Earners
The Colorado ballot measure would replace the state’s flat income-tax rate with six rates beginning in tax year…
Supreme Court Rules ₹2 Crore GST Threshold Applies to Pending Appeals, Upholds CBIC Circular
The Supreme Court has held that the ₹2 crore threshold for GST appeals applies to pending cases, not…
Budget 2027 Takes Shape with €10 Increase and Higher Income Tax Threshold
Budget 2027 negotiators have agreed to raise weekly pensions and core welfare payments by €10. A proposed increase…
GAO Pegs Annual U.S. Tax Fraud Losses at $116B to $304B for Tax Year 2022
The GAO estimates that tax fraud cost the federal government $116 billion to $304 billion for tax year…
John Healey Warned by Institute of Economic Affairs That Capital Gains Tax Raid Could Blow £6.2 Billion Hole
The Institute of Economic Affairs estimates that proposed Capital Gains Tax increases could leave public finances £6.2 billion…
Japan Unifies Beer Tax Rates, Ending Third-Category Beer on October 1, 2026
Starting October 1, 2026, Japan will tax beer, happoshu and third-category beer at the same rate: ¥54.25 per…
Japan’s Liberal Democratic Party Weighs Higher Tax on Short-Term Capital Gains from Condominium Sales
Japan’s Liberal Democratic Party has urged the government to increase taxes on short-term gains from condominium resales, aiming…
Brihanmumbai Municipal Corporation Proposes Up to 570% Hike in Mumbai Entertainment Tax
Mumbai’s municipal corporation proposes higher entertainment levies for cinemas and other venues in 2027 to 2028. The...
Italy’s Giorgetti Makes Income Tax Cuts Priority in New Budget, Shaping IRPEF Income-Tax Bracket and Public-Finance Framework
Italy’s next budget is expected to prioritize middle-class tax relief, Economy Minister Giancarlo Giorgetti told lawmakers. A proposal…