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The Latest Breaking News from Income Tax

Income tax search at BBC’s Delhi, Mumbai offices

The income tax department is carrying out a survey at the BBC’s offices in Delhi and Mumbai, Newslaundry has learnt. This comes amid a controversy over the BBC documentary on Prime Minister Narendra Modi.

Newslaundry

How much America's richest people would pay under a billionaire tax is pretty complicated

Elon Musk and Bill Gates could owe billions under the Billionaire Minimum Income Tax. But how that tax would play out depends on several factors.

Fortune

Department to scrutinise tax filings

The Revenue Department plans to step up its examination of suspicious personal income tax returns, says director-general Lavaron Sangsnit.

Bangkok Post

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Illinois must move forward and dig out of its pension problem

A new report from a civic group offers a plan that includes a 10-year income tax surcharge to shore up underfunded pensions. State legislators should take action.

Chicago Sun-Times

KY General Assembly gives final approval to income tax reduction

The Kentucky Senate has voted 30 to five to lower the state’s income tax rate from 4.5% to 4%, starting next year. Senate Budget Committee Chair Chris McDaniel said tax policy is a key lever for economic development in Kentucky.

WEKU

How much Plaid's plan to raise income tax in Wales would cost you

'The entire health and care system now is buckling, and unless we do something radical, it is going to collapse.'

Wales Online

Income tax ‘surcharge,’ other measures needed to pay down pensions, business group says

The report by the Civic Committee of the Commercial Club of Chicago is a new message from a group that opposed Gov. J.B. Pritzker on the graduated income tax in 2020.

Chicago Sun-Times

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Liz Truss admits plan to scrap 45p top income tax rate was ‘bridge too far’

The former prime minister continued to defend her failed bid to boost growth in her first interview since stepping down

Evening Standard

Truss admits plan to scrap 45p top income tax rate was ‘bridge too far’

The former prime minister continued to defend her failed bid to boost growth in her first interview since stepping down.

The Independent UK

US states take control of abortion debate with funding focus

The U.S. abortion debate is shifting to funding as states take control of policymaking

The Independent UK

Plaid Cymru: Raise income tax to give NHS workers pay rise and end strikes

The Welsh Government is being urged to amend the draft budget.

The Independent UK

Do you earn up to Rs 7 lakh? You might still be better off under the old tax regime

One thing that comes out clearly from the union budget presented earlier today is that the government wants income tax filers to abandon the old tax regime and move on to the new one.

Newslaundry

Editorial: 'Fair Tax' won't pass, but even the debate is an ominous omen about McCarthy

There is a 0% chance that a proposal to eliminate the federal income tax and replace it with a massive national sales tax will even get out of the Republican-controlled House, let alone become law. But the fact that such a bluntly soak-the-poor idea is even getting an airing under…

St. Louis Post-Dispatch

New Zealand's tax system is under the spotlight (again). What needs to change to make it fair?

Aotearoa New Zealand’s new Prime Minister, Chris Hipkins, has said we should look at ways to make the tax system fairer. Finance associate minister David Parker made a similar point almost a year ago, though there was little real action after his comments.

The Conversation

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Chicago Sun-Times

Give gun owners a tax break for getting rid of their weapons

The tax code should be amended so those who legally own a firearm can turn it in and receive a tax deduction on their federal income tax return.

Salon

GOP wants to impose 30% US sales tax

The bill would also eliminate corporate income taxes and abolish the IRS

Insider UK

Weaker economic growth costing Scottish Government almost £700m

Scottish Fiscal Commission says differences in tax policy between Scotland and the rest of the UK are also to blame

The Independent UK

Justices weigh effort to balance Washington state's tax code

An effort to balance what is considered the nation’s most regressive state tax code is coming before the Washington state Supreme Court

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Chronicle Live

Three in court accused of 'cheating public revenue' out of thousands of pounds

Jamie Fenwick, Beverley Allcock and Dawn Parker were alleged to have committed the offences while living in Jarrow, in South Tyneside

The Independent UK

GOP congressman says to not ‘buy a boat’ when asked about plan to hike sales tax

Democrats have criticised the proposal from the Georgia Republican to eliminate the income tax in favor of a national sales tax

Bangkok Post

Tax deduction period extended for health foundation donations

The cabinet has extended the double tax deduction period for another two years for contributions made to 13 public health foundations via E-donation.

Tribune News Service

Kansas Gov. Kelly warns against politics in classrooms, renews calls for medical marijuana

TOPEKA, Kansas — Kansas Gov. Laura Kelly in her State of State address on Tuesday night warned the Republican-controlled Legislature that she would oppose “irresponsible tax proposals” and education measures that pit “parents against teachers,” even as the Democratic governor seeks GOP support for her agenda.

Chicago Sun-Times

Mayoral candidate Brandon Johnson unveils tax-the-rich plan to bankroll social services

Johnson wants to “make the suburbs, airlines and ultra-rich pay their fair share” to generate $800 million in new revenue. His plan includes a Metra “city surcharge” to raise $40 million from the suburbs.

Bangkok Post

Korn's party pushes tax cuts for lower-income bracket

The Chartpattanakla Party has proposed a tax restructuring under which people earning 40,000 baht or less a month as a salary or for freelance work would enjoy an income tax cut.

Wales Online

Record number of Britons are now dependent on the state

Analysis showed that 83 per cent of all income tax is paid by just 40 per cent of British adults

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