Unpassed Tax Changes Create Uncertainty for Canadian Asset Managers
Canadian asset managers face uncertainty in filing 2024 tax returns for investment funds due to unpassed federal capital gains tax changes proposed in the 2024 budget, potentially requiring re-filing and amended tax slips if the changes don't pass.
Unpassed Tax Changes Create Uncertainty for Canadian Asset Managers
Canadian asset managers face uncertainty in filing 2024 tax returns for investment funds due to unpassed federal capital gains tax changes proposed in the 2024 budget, potentially requiring re-filing and amended tax slips if the changes don't pass.
Progress
52% Bias Score
IRS Form 1099: Automated Tax Reporting and Consequences of Non-Compliance
IRS Form 1099, crucial for automated tax reporting, requires businesses to report payments exceeding $600 to non-corporate payees; failure to report this income on personal tax returns may result in audits and tax notices.
IRS Form 1099: Automated Tax Reporting and Consequences of Non-Compliance
IRS Form 1099, crucial for automated tax reporting, requires businesses to report payments exceeding $600 to non-corporate payees; failure to report this income on personal tax returns may result in audits and tax notices.
Progress
40% Bias Score
Greece Launches "myAADEapp" for Mobile Tax Management
The Greek tax authority's new "myAADEapp" enables mobile invoicing, real-time financial tracking, and access to various tax services for professionals and businesses, starting this month, with additional features like digital customer records and delivery notes to be added later.
Greece Launches "myAADEapp" for Mobile Tax Management
The Greek tax authority's new "myAADEapp" enables mobile invoicing, real-time financial tracking, and access to various tax services for professionals and businesses, starting this month, with additional features like digital customer records and delivery notes to be added later.
Progress
40% Bias Score
Greek Tax Revenue Improves Amidst Higher Compliance
Greek tax authorities report that 80% of taxes are paid on time, with corporate income tax and VAT showing significant increases due to government measures promoting electronic transactions, while individual taxpayer compliance is lower.
Greek Tax Revenue Improves Amidst Higher Compliance
Greek tax authorities report that 80% of taxes are paid on time, with corporate income tax and VAT showing significant increases due to government measures promoting electronic transactions, while individual taxpayer compliance is lower.
Progress
40% Bias Score
U.S. Tax Law Conflicts With Foreign Legal Systems
The U.S. tax system's global reach creates complexities for citizens and tax professionals navigating the interplay between U.S. and foreign laws, particularly concerning cross-border transactions and conflicting legal interpretations, leading to potential penalties for non-compliance.
U.S. Tax Law Conflicts With Foreign Legal Systems
The U.S. tax system's global reach creates complexities for citizens and tax professionals navigating the interplay between U.S. and foreign laws, particularly concerning cross-border transactions and conflicting legal interpretations, leading to potential penalties for non-compliance.
Progress
52% Bias Score
IRS struggles to collect taxes from wealthy non-filers
The IRS is struggling to collect taxes from tens of thousands of wealthy Americans who avoid filing returns, exploiting a loophole where non-filing is a misdemeanor, not a felony; a recent initiative has collected $292 million in additional taxes, but millions more remain uncollected.
IRS struggles to collect taxes from wealthy non-filers
The IRS is struggling to collect taxes from tens of thousands of wealthy Americans who avoid filing returns, exploiting a loophole where non-filing is a misdemeanor, not a felony; a recent initiative has collected $292 million in additional taxes, but millions more remain uncollected.
Progress
56% Bias Score
New Jersey Seeks to Simplify Sales Tax Compliance by Eliminating Transaction Thresholds
New Jersey is proposing to eliminate the 200-transaction threshold for sales tax economic nexus, instead requiring businesses to collect sales tax if their gross revenue exceeds \$100,000 annually in the state; this simplifies compliance and enhances revenue collection.
New Jersey Seeks to Simplify Sales Tax Compliance by Eliminating Transaction Thresholds
New Jersey is proposing to eliminate the 200-transaction threshold for sales tax economic nexus, instead requiring businesses to collect sales tax if their gross revenue exceeds \$100,000 annually in the state; this simplifies compliance and enhances revenue collection.
Progress
48% Bias Score
Greek Tax Assessment Power Expires: Implications for Audits and VAT Deductions
Greece's tax authority lost the right to assess taxes for years up to 2018 at the end of 2024; this affects tax audits and reassessments, as shown in cases involving controlled foreign companies and VAT deductions, with the EU Court of Justice emphasizing the irrelevance of service necessity for VAT...
Greek Tax Assessment Power Expires: Implications for Audits and VAT Deductions
Greece's tax authority lost the right to assess taxes for years up to 2018 at the end of 2024; this affects tax audits and reassessments, as shown in cases involving controlled foreign companies and VAT deductions, with the EU Court of Justice emphasizing the irrelevance of service necessity for VAT...
Progress
20% Bias Score
IRS John Doe Summons Targets Trident Trust in Offshore Tax Evasion Probe
A New York court authorized the IRS to use a John Doe Summons against Nevis Services Limited, a Trident Trust affiliate, to obtain information on US taxpayers using offshore structures to evade taxes between 2014 and 2023, expanding its investigation to financial institutions and courier services.
IRS John Doe Summons Targets Trident Trust in Offshore Tax Evasion Probe
A New York court authorized the IRS to use a John Doe Summons against Nevis Services Limited, a Trident Trust affiliate, to obtain information on US taxpayers using offshore structures to evade taxes between 2014 and 2023, expanding its investigation to financial institutions and courier services.
Progress
40% Bias Score
Greece's VAT Gap Falls 53% in 2022
Greece's VAT gap fell 53% from 2017 to 2022 (29.1% to 13.7%), reaching €2.95 billion, due to increased electronic transactions and government initiatives; this places Greece 23rd in the EU, but the government projects further reductions.
Greece's VAT Gap Falls 53% in 2022
Greece's VAT gap fell 53% from 2017 to 2022 (29.1% to 13.7%), reaching €2.95 billion, due to increased electronic transactions and government initiatives; this places Greece 23rd in the EU, but the government projects further reductions.
Progress
44% Bias Score
Greece Intensifies Tax Compliance Efforts Through Data Collection
The Greek tax authority is collecting financial data from banks, investment firms, and other sources on 8.5 million taxpayers to improve tax compliance and detect discrepancies, with a February 2025 deadline and significant fines for non-compliance.
Greece Intensifies Tax Compliance Efforts Through Data Collection
The Greek tax authority is collecting financial data from banks, investment firms, and other sources on 8.5 million taxpayers to improve tax compliance and detect discrepancies, with a February 2025 deadline and significant fines for non-compliance.
Progress
40% Bias Score
UK's Tax Collection Success: A Model for Others?
An interview with a senior official from the UK's tax authority, HMRC, details the strategies behind their high tax collection rate, which includes both enforcement and public education initiatives.
UK's Tax Collection Success: A Model for Others?
An interview with a senior official from the UK's tax authority, HMRC, details the strategies behind their high tax collection rate, which includes both enforcement and public education initiatives.
Progress
40% Bias Score