Section 751, Form 8308: How Hot Assets Turn Partnership Capital Gains Into Ordinary Income
Section 751 rules can turn LLC sale gains into ordinary income. Sellers must track 'hot assets' and file…
CBIC Extends Customs Duty Exemption Till July 2026 Amid West Asia Conflict
India extends customs duty exemptions for 40 petrochemicals until July 15, 2026, due to West Asia supply disruptions.…
Australian Property Forecasts Turn Flat as Tax Changes and Housing Slump Affect Negative Gearing
Australian banks forecast flat 2026 property prices as new tax changes on negative gearing and capital gains dampen…
IRS Lists 2026 Standard Deduction at $32,200 for Married Couples Filing Jointly
The 2026 standard deduction rises to $32,200 for married couples and $16,100 for singles, simplifying federal tax filing…
Wealth Tax on South Africa’s Rich Dropped, Estate-Duty Abatement Unchanged
South Africa halts wealth tax plans for 2026, focusing instead on adjusting existing estate duty, capital gains, and…
Passport Is Not Final Proof of Citizenship, but It Still Matters for Tax Residence
Indian tax residency depends on physical stay and day counts. Passports are vital for proving travel history to…
Gross GST Collections Rise 13.9% in June 2026, GST Refunds and Imports Also Up
India's June 2026 gross GST rose 13.9% to ₹1.94 lakh crore, driven by a 34.6% surge in import…
Vietnam Revised Tax Law Adds Digital Platform and Carbon Credit Income
Vietnam’s updated tax law, effective July 1, 2026, taxes digital assets and e-commerce while exempting overtime pay and…
Self-Employed Face New Minimum Professional Income Tax of 45 Rubles Per Month with Three-Month Payment Delay
Belarus launches a flat monthly tax for self-employed workers on July 1, 2026. Payments of 45 rubles are…
Canada Super Visa 2026: New Income Calculation Rules Expand Financial Requirement Options
Canada's 2026 Super Visa update adds income flexibility, allowing hosts to use prior year earnings or visitor income…
Indonesia Orders Tokopedia, Shopee, Lazada, Blibli to Collect Income Tax from Sellers Starting August 2026
Indonesia designates four e-commerce platforms to withhold 0.5% income tax from sellers exceeding Rp500M annual turnover starting August…
DOT Proposal in Federal Register May Allow Airlines to Advertise Base Fare Without Taxes
The U.S. DOT proposes relaxing the 2011 full-fare rule, potentially allowing airlines to advertise base fares more prominently…
NRIs Must File Income Tax Return in India by July 31, 2026 Deadline or Submit Revised Return
India sets July 31, 2026, as the first major tax deadline for AY 2026-27. NRIs must file for…
DHS Employees Get Extended Tax Filing Deadline to May 15 Under New Bill
IRS extends 2026 tax deadline to May 15 for DHS workers following a shutdown, as the One Big…