Tag #Taxes

Showing 13 to 24 of 149 results

sueddeutsche.de

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Jun 6, 07:15

Bavaria's €140 Billion Tax Haul: Challenges and Successes

Bavarian tax authorities collected over €140 billion in taxes in 2024, including €3.26 billion from investigations and audits; however, only €57.3 billion directly benefits the state's budget due to shared tax revenue distribution. The tax administration faces challenges from increasing workloads an...

Bavaria's €140 Billion Tax Haul: Challenges and Successes

Bavarian tax authorities collected over €140 billion in taxes in 2024, including €3.26 billion from investigations and audits; however, only €57.3 billion directly benefits the state's budget due to shared tax revenue distribution. The tax administration faces challenges from increasing workloads an...

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What is the total tax revenue collected in Bavaria in 2024, and how is this revenue allocated?

In 2024, Bavarian tax authorities collected over €140 billion in taxes, with €3.26 billion resulting from tax investigations and audits. This revenue supports social systems, innovation, and the rule of law, according to Finance Minister Albert Füracker.

foxnews.com

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May 29, 19:11

California Landfill Closure Exposes Regulatory Costs

The closure of a Los Angeles County landfill due to a complex chemical reaction and overlapping state and federal regulations increased waste disposal costs, highlighting the unintended consequences of stringent environmental policies.

California Landfill Closure Exposes Regulatory Costs

The closure of a Los Angeles County landfill due to a complex chemical reaction and overlapping state and federal regulations increased waste disposal costs, highlighting the unintended consequences of stringent environmental policies.

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What are the immediate consequences of the Los Angeles County landfill closure resulting from complex chemical reactions and regulatory issues?

A landfill in Los Angeles County, California, closed due to a complex chemical reaction requiring extensive regulatory intervention. This closure increased trash disposal costs for the county as waste must now be transported further.

theglobeandmail.com

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May 29, 13:12

Court Rules Short-Term Rentals Trigger GST/HST Liability on Property Sale

The Federal Court of Appeal upheld a ruling that two brothers owe $77,080 in GST/HST on the sale of their Ottawa condo due to its use as short-term rentals (Airbnb) for over a year before the sale, regardless of prior long-term rental use, highlighting complexities in Canadian property tax law.

Court Rules Short-Term Rentals Trigger GST/HST Liability on Property Sale

The Federal Court of Appeal upheld a ruling that two brothers owe $77,080 in GST/HST on the sale of their Ottawa condo due to its use as short-term rentals (Airbnb) for over a year before the sale, regardless of prior long-term rental use, highlighting complexities in Canadian property tax law.

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How does the 10 percent change-of-use rule under subsection 206(2) of the Excise Tax Act impact GST/HST liability for property owners?

The case highlights the complexities of GST/HST regulations regarding property sales. The court's decision emphasizes that the property's use at the time of sale determines GST/HST liability, not its past use. This ruling underscores the importance of understanding tax implications when changing property usage, particularly from long-term to short-term rentals.

dw.com

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May 25, 07:08

Mexico Threatens Protest Over US Remittance Tax

Mexican President Claudia Sheinbaum threatened protests against a new 3.5% US tax on remittances to Mexico, arguing it unfairly targets Mexican migrants who contribute significantly to both US and Mexican economies, potentially violating a 1994 bilateral treaty.

Mexico Threatens Protest Over US Remittance Tax

Mexican President Claudia Sheinbaum threatened protests against a new 3.5% US tax on remittances to Mexico, arguing it unfairly targets Mexican migrants who contribute significantly to both US and Mexican economies, potentially violating a 1994 bilateral treaty.

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How does the Mexican government justify its opposition to the proposed remittance tax, and what are the historical precedents?

The proposed 3.5% tax on remittances to Mexico, a record nearly $65 billion in 2024, is viewed by the Mexican government as a violation of a 1994 bilateral treaty against double taxation. This tax disproportionately affects the millions of Mexicans in the US who send money to their families in Mexico, significantly contributing to the Mexican economy. Sheinbaum is urging Mexican citizens in the US to contact their senators to voice their concerns.

kathimerini.gr

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May 17, 10:09

UK Billionaire Count Plummets Amid Tax Changes and Economic Uncertainty

The 2024 Sunday Times Rich List shows a record decrease in the number of UK billionaires (down to 156 from 165 in 2024) and a 3% drop in their total wealth (£772.8 billion), mainly due to the Labour government's revised non-dom tax status and global economic instability; the Hinduja family retains t...

UK Billionaire Count Plummets Amid Tax Changes and Economic Uncertainty

The 2024 Sunday Times Rich List shows a record decrease in the number of UK billionaires (down to 156 from 165 in 2024) and a 3% drop in their total wealth (£772.8 billion), mainly due to the Labour government's revised non-dom tax status and global economic instability; the Hinduja family retains t...

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What are the potential long-term economic and social consequences of this trend for the UK?

The trend of decreasing billionaire numbers and wealth in the UK suggests potential long-term implications for the nation's economy and tax revenue. The exodus of high-net-worth individuals highlights the impact of tax policies on attracting and retaining wealth. This could lead to further economic shifts and policy adjustments in the future.

theglobeandmail.com

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May 15, 01:10

FHSA Rules Clarified for Homeowners' Partners

The Canadian government clarified that individuals living with a homeowner can still use their First Home Savings Account (FHSA) for a joint home purchase, even if their partner is not a first-time buyer, despite not being eligible to open a new account in such circumstances.

FHSA Rules Clarified for Homeowners' Partners

The Canadian government clarified that individuals living with a homeowner can still use their First Home Savings Account (FHSA) for a joint home purchase, even if their partner is not a first-time buyer, despite not being eligible to open a new account in such circumstances.

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What are the specific rules regarding FHSA usage for individuals living with a homeowner partner?

Canadians in a relationship with a homeowner can't open a First Home Savings Account (FHSA), but those who opened one before their relationship can still use it to buy a home together, even if their partner isn't a first-time buyer. This allows for contributions and withdrawals for joint home purchases. The government clarified that this was intentional, to avoid penalizing those who entered such relationships after opening an FHSA.

kathimerini.gr

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May 30, 13:14

Greek Tax Exemptions on Primary Residences: Eligibility, Amounts, and Digitalization

Greece offers tax exemptions on primary residence purchases up to €200,000 for singles and €250,000 for couples, increasing with disability and children, impacting the housing market; digital declarations are made via myPROPERTY.

Greek Tax Exemptions on Primary Residences: Eligibility, Amounts, and Digitalization

Greece offers tax exemptions on primary residence purchases up to €200,000 for singles and €250,000 for couples, increasing with disability and children, impacting the housing market; digital declarations are made via myPROPERTY.

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How do the tax exemption thresholds differ based on marital status, disability, and number of children?

Tax exemption thresholds vary depending on marital status and disability. For instance, single buyers are exempt up to €200,000, while married couples are exempt up to €250,000; these amounts increase with disabilities and children. The exemption also includes parking and storage spaces up to 20 sq.m. within the same property. These provisions aim to stimulate the housing market and support homeownership.

theglobeandmail.com

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May 29, 22:11

CRA's Online TFSA Access Remains Blocked Due to Processing Delays

Due to processing delays of TFSA returns from financial institutions, the Canada Revenue Agency (CRA) has blocked access to TFSA information on its online portals since April 17th, affecting taxpayers and professionals' ability to calculate contribution limits and potentially leading to overcontribu...

CRA's Online TFSA Access Remains Blocked Due to Processing Delays

Due to processing delays of TFSA returns from financial institutions, the Canada Revenue Agency (CRA) has blocked access to TFSA information on its online portals since April 17th, affecting taxpayers and professionals' ability to calculate contribution limits and potentially leading to overcontribu...

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What is the immediate impact of the CRA's inability to provide online access to TFSA information?

Canadians cannot access their Tax-Free Savings Account (TFSA) information on the Canada Revenue Agency (CRA) website due to delays in processing TFSA returns from financial institutions. This issue, ongoing since April 17th, prevents the CRA from displaying accurate TFSA contribution limits and account details, causing inconvenience to taxpayers and tax professionals. The CRA is working to resolve the issue and apologizes for the disruption.

forbes.com

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May 28, 04:10

Early 401(k) Withdrawals: Penalties, Exceptions, and Alternatives

Withdrawing from a 401(k) before age 59 1/2 usually involves a 10% penalty and income taxes; however, exceptions exist for hardship, disability, death, and other specific circumstances, but income taxes still apply; better alternatives include 401(k) loans or adjusting long-term retirement plans.

Early 401(k) Withdrawals: Penalties, Exceptions, and Alternatives

Withdrawing from a 401(k) before age 59 1/2 usually involves a 10% penalty and income taxes; however, exceptions exist for hardship, disability, death, and other specific circumstances, but income taxes still apply; better alternatives include 401(k) loans or adjusting long-term retirement plans.

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What are the tax penalties and exceptions for early 401(k) withdrawals?

Withdrawing from a 401(k) before age 59 1/2 typically incurs a 10% early withdrawal penalty, plus income tax on the full amount. Exceptions exist for hardship situations (e.g., medical expenses, eviction prevention) and specific circumstances like disability or death. However, even with exceptions, income taxes still apply.

abcnews.go.com

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May 21, 19:13

Trump's "One Big, Beautiful Bill" Faces House Defeat

A last-minute White House meeting is underway to address Republican holdouts' concerns over President Trump's "One Big, Beautiful Bill Act," which faces potential defeat due to disagreements over Medicaid and tax provisions; the bill includes changes to Medicaid, state and local tax deductions, SNAP...

Trump's "One Big, Beautiful Bill" Faces House Defeat

A last-minute White House meeting is underway to address Republican holdouts' concerns over President Trump's "One Big, Beautiful Bill Act," which faces potential defeat due to disagreements over Medicaid and tax provisions; the bill includes changes to Medicaid, state and local tax deductions, SNAP...

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What are the immediate consequences if the "One Big, Beautiful Bill Act" fails to pass the House?

One Big, Beautiful Bill Act" faces significant hurdles in the House, with Republican hardliners threatening to vote against it due to disagreements over Medicaid and tax deductions. A White House meeting between President Trump, Speaker Johnson, and these holdouts is underway to address concerns and attempt to secure passage. Failure to pass the bill will leave crucial provisions, including Medicaid changes, unimplemented.

zeit.de

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May 16, 07:13

Bayern Faces Tight Budget Amid Low Tax Revenue Forecast

Bayern's Finance Minister Albert Füracker warns of a tight budget due to persistently low tax revenue, forecasting a slight increase of €0.1 billion in 2026 followed by a slight decrease in 2027, necessitating strict spending discipline.

Bayern Faces Tight Budget Amid Low Tax Revenue Forecast

Bayern's Finance Minister Albert Füracker warns of a tight budget due to persistently low tax revenue, forecasting a slight increase of €0.1 billion in 2026 followed by a slight decrease in 2027, necessitating strict spending discipline.

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How do rising personnel costs and the economic slump contribute to Bayern's strained financial situation?

The ongoing economic slump significantly impacts Bayern's tax revenue, exacerbating the already tight budget situation. Rising personnel costs in the public sector further strain finances. The state has used reserves to offset shortfalls, but this is unsustainable.

mk.ru

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May 12, 19:09

Criticized Russian Tax Plan Targets Stay-at-Home Spouses and Rentiers

A proposed Russian tax on stay-at-home spouses and rentiers, aimed at bringing 1.5 million people into the workforce and legalizing income from the informal economy (15 million people), faces strong criticism for being discriminatory, impractical, and difficult to implement due to challenges in trac...

Criticized Russian Tax Plan Targets Stay-at-Home Spouses and Rentiers

A proposed Russian tax on stay-at-home spouses and rentiers, aimed at bringing 1.5 million people into the workforce and legalizing income from the informal economy (15 million people), faces strong criticism for being discriminatory, impractical, and difficult to implement due to challenges in trac...

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What are the immediate consequences and challenges of the proposed tax on stay-at-home spouses and rentiers in Russia?

A proposal to tax stay-at-home spouses and rentiers in Russia has drawn sharp criticism from legal and financial experts who deem it discriminatory and impractical. The initiative aims to tax approximately 15 million working-age Russians not in the formal economy, with the goal of bringing 1.5 million into the workforce and forcing the rest to legalize their income. This is estimated to only affect 10% of the target group.

Showing 13 to 24 of 149 results