The Latest Breaking News from Income Tax

The impact of inflation on federal income tax brackets and some other tax credits might not be all bad.

On July 22, the Idaho secretary of state announced that an initiative that would increase income tax and corporate tax rates to provide additional education funding had submitted the required number of signatures for the November ballot. 

Always keen to be identified as the party of low taxation, the Conservatives won the 2019 general election on a promise not to raise income tax, VAT or national insurance. So last year’s national insurance increase was bound to rankle, even though it could feasibly be blamed on the huge…

A tax reform proposed by Colombia's President-elect Gustavo Petro will raise $10.9 billion annually via a progressive income tax, the elimination of business exemptions, and tackling evasion, his incoming tax agency head said on Thursday.

British finance minister Nadhim Zahawi said on Monday he would abolish a planned increased in corporation tax and would cut the basic rate of income tax by reducing government spending if he is chosen to replace Boris Johnson as prime minister.

Australians pay too much income tax – or so some argue.

Principal Chief Commissioner of Income Tax (Exemptions), New Delhi, Rashmi Saxena Sahni conducted a review on the performance of Andhra Pradesh, Telangana and Odisha in the morning session

The pair said the tax cut will amount to £6 billion in value and lift ‘2.2 million people out of paying any National Insurance or income tax’.

Over-65s warned the taxman will take his ‘chunk’ of state benefit