BankBazaar

JULY 9, 2024

Amidst tax filing season, understanding the necessity of filing a NIL income tax return can save you from potential hassles and bring financial benefits. As tax season approaches, many people may wonder about the necessity of filing an income tax return (ITR) when their income falls below the taxable threshold.

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PYMNTS

FEBRUARY 2, 2021

Tax compliance has never been a simple issue for businesses. Enter Software as a Service (SaaS), and even tax codes have been playing catch-up with the subscription business. As the marketplace shifts toward a more SaaS-based strategy, you can be sure that we're going to see a shift in tax guidance as well.”. Here in the U.S.,

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PYMNTS

DECEMBER 29, 2020

Avalara , a tax compliance software firm with a focus on the business sector, said on Tuesday (Dec. Avalara’s acquisition of INPOSIA Solutions is expected to enhance its offerings, with the German software company focused on “e-invoicing, digital tax reporting, and business and data integration,” the companies said.

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PYMNTS

FEBRUARY 14, 2020

Mexico passed a law this week that taxes digital services from other countries, according to a report. A 16 percent value-added tax (VAT) will be tacked onto digital services starting on June 1 of this year. The tax will cover all online applications, including video, audio streaming, images, education and others.

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Bank Innovation

APRIL 2, 2018

Taxes on cryptocurrency? According to a report by Nikkei Asian Review, after a cabinet meeting suggested that crypto traders could be charged with as much as 7% value added tax as well as up to 15% tax on capital gains. Taxing cryptocurrency is a way for […].

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PYMNTS

NOVEMBER 12, 2020

A tax for working at home? and other countries will need to step up and tax remote work, using the money to help workers in service sectors whose jobs are imperiled by the trend, the Deutsche Bank researchers argue. For years we have needed a tax on remote workers — covid has just made it obvious,” Templeman writes.

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PYMNTS

DECEMBER 27, 2019

Sales taxes empower governments to maintain critical public services, but they can also make medical essentials too expensive for those who need them. Campaigns against taxing obligatory items are spreading across the United States, forcing states to rethink their revenue generation decisions. Sales taxes’ price tags.

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Bank Innovation

FEBRUARY 20, 2018

Israel is going to put a tax on cryptocurrencies including bitcoin, regulators in the country said yesterday. According to a circular by Israel Tax Authority yesterday, the government said it looks at cryptocurrencies as a property rather than a currency, and therefore it will be taxable.

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cryptocurrency Taxes Bitcoin Regulation 240

BankBazaar

JUNE 3, 2022

Are you the sort of person that rushes to file their income tax return as early as possible so that it’s done and dusted? Are you very proud of that gold certificate the income tax department sent you for timely filing? Additional Reading: Which is Better – New Tax or Old Tax Regime? How It Works. When to File.

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PYMNTS

JANUARY 20, 2021

And when it comes to rewarding employees with a holiday or other work anniversary reward, the last thing businesses need is to have their generosity become a tax headache. However, he added, the tax implications should not exceed the cost and purpose of the present. Awesome … My Fourth Water Bottle. Shortcuts and Backfires.

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ABA Community Banking

SEPTEMBER 4, 2024

By Paul DavisA series of tax cuts that are poised to expire next year should be on the radar of banks of all sizes.The Tax Cuts and Jobs Act, which was signed into law in December 2017, is largely viewed as the most-sweeping overhaul of the tax code in three decades. It ushered in a […] The post End in sight?

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Taxes Community Bank Policies Community 59

TheGuardian

OCTOBER 23, 2024

Bank expects ‘constructive, pro-growth agenda’ by chancellor next week and seeks to be part of it Business live – latest updates Lloyds Banking Group has backed the Labour government’s forthcoming budget and played down the impact of any tax increases, which it said would probably be part of a “constructive, pro-growth agenda”.

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PYMNTS

JULY 7, 2020

Seattle’s City Council passed a new tax for big businesses operating in the city, including Amazon , according to CNBC. The tax, called the JumpStart Seattle Tax, will target businesses with at least $7 million in annual revenue. Those businesses will be taxed 0.7 Those businesses will be taxed 0.7

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PYMNTS

NOVEMBER 25, 2020

The Department of Justice is requiring Credit Karma to divest its tax business to Square as part of Intuit’s $7.1 25), Intuit and Credit Karma said they had received clearance from the Department of Justice (DOJ) for the merger, and had agreed for Credit Karma to sell its tax business to Square. On Wednesday (Nov.

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PYMNTS

DECEMBER 26, 2019

Merchants aiming to sell nationwide must pay attention to how their goods are treated by each state’s tax code. Items considered as exempt medical necessities in some states may be taxed at high rates in others, and businesses cannot afford to be caught by surprise. Around The Next-Gen Sales Tax Wor ld.

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PYMNTS

NOVEMBER 25, 2019

The Supreme Court ruling has started the ball rolling for states and municipalities to tax eCommerce – specifically, out-of-state firms and online marketplaces. But there have already been disputes making their way through the courts, as detailed in the latest Next-Gen Sales Tax Tracker.

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TrustBank

MARCH 27, 2024

We are well into March which means tax filing time is upon us. Now would be a good time to securely send your tax information to your tax preparer (if you haven’t already). Fraudsters are looking to take advantage of mailings and emails from financial institutions regarding tax info. This is not tax advice.

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PYMNTS

MAY 1, 2020

Small businesses fortunate enough to get their Paycheck Protection Program (PPP) loans forgiven will forfeit some tax breaks, according to new rules from the Internal Revenue Service (IRS). . This treatment prevents a double tax benefit,” the agency said in the notice. This conclusion is consistent with prior guidance of the IRS.”.

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PYMNTS

JANUARY 22, 2021

Amazon is planning to hike fees for Spanish companies using its platform by 3 percent from April, according to a Reuters report, since the country's government imposed a new digital tax. A spokesperson for Amazon said the so-called " Google tax" would end up hitting users. Spain began charging the fee on Jan.

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PYMNTS

FEBRUARY 14, 2020

Amazon and Flipkart are pushing back against a proposed Indian tax on the online eCommerce market, saying it will stymie growth in the industry, according to a report by Reuters. . The tax would be 1 percent on every sale made by a seller on the eCommerce platforms, and it would take effect in April if approved by the country’s parliament.

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PYMNTS

DECEMBER 26, 2019

Italy has announced that it’s going to follow in France’s footsteps and tax big tech companies, a move that threatens to further complicate relations with the United States over the issue, according to a report by The Wall Street Journal. France recently announced a similar move, and the new Italy tax will take effect on Jan.

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PYMNTS

FEBRUARY 10, 2020

The jousting over eCommerce taxes — especially for U.S. Last week in India, the government proposed a tax on eCommerce transactions that will likely increase operating costs for sellers large and small. The tax, technically known as “Tax Deducted at Source” (TDS), is sent directly to an account held by the central government.

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PYMNTS

FEBRUARY 6, 2020

Business information firm Thomson Reuters is teaming up with global tax company KPMG to offer Australia businesses a solution to deal with fringe benefits taxes (FBT), Thomson Reuters announced Thursday (Feb. The ONESOURCE FBT software automates the tax calculations necessary to file an FBT return. “Our

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TheGuardian

FEBRUARY 1, 2024

Shadow chancellor Rachel Reeves unveils raft of measures at business summit aimed at boosting investment, productivity and certainty Labour will not raise corporation tax above its current rate of 25% during the next parliament, the party has pledged, in an attempt to offer businesses greater certainty. Continue reading.

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PYMNTS

FEBRUARY 12, 2020

The Australian Taxation Office (ATO) is warning small and medium-sized businesses (SMBs) that if they don’t pay their taxes on time, they could face consequences like a reduction in credit rating, Mozo reported on Wednesday (Feb. percent of respondents said meeting tax payments promptly would create cash flow issues in their business.

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PYMNTS

JANUARY 7, 2021

South Korea will begin taxing crypto benefits 20 percent, from both buying and selling, beginning in 2023, according to a report from Asia Today. million won (about $2,200) from digital assets will be hit with the 20 percent tax. The report stated the tax announcements were made Wednesday (Jan.

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Bitcoin Taxes Washington Report 276

PYMNTS

MARCH 6, 2019

-based internet companies, announcing Wednesday (March 6) the introduction of a digital tax that will impact companies including Google, Facebook, and Amazon. According to a report in CNBC , France’s finance minister announced the 3 percent tax, saying it will apply to about 30 big companies, mainly from the U.S.

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PYMNTS

AUGUST 27, 2019

The Australian government is preparing a strategy to combat tax dodging among small businesses amounting to an estimated $11 billion in missing tax payments, News.com.au billion small business “tax gap” — the difference between income tax collected and what small businesses actually owed. reported Monday (Aug.

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PYMNTS

DECEMBER 29, 2020

Turkish prosecutors have issued a detention warrant for Turkish businessman Sezgin Baran Korkmaz, who has ties to Utah business executives who recently pleaded guilty to a $511 million tax credit scheme in the U.S., The Kingstons pleaded guilty in the tax credit scheme in the U.S., the Associated Press (AP) reported.

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PYMNTS

MARCH 13, 2020

Tax season frustrations can blossom into real financial problems, especially when refunds are paper checks sent through postal mail. tax code changes passed in 2017 did not soothe these frictions, either, as they shifted income brackets and altered rates, affecting consumers’ refunds and earnings.

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Millennials Taxes Innovation Operations 160

PYMNTS

NOVEMBER 25, 2019

Isaacson, a lawyer, Bowdoin College professor, senior partner at Brann & Isaacson and Data & Marketing Association tax counsel, argued Wayfair’s side in the precedent-setting Supreme Court case that has small businesses struggling. is the only country that has such a complex consumption tax system.” .

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PYMNTS

MARCH 15, 2019

With the first tax season post-tax reform nearing completion in the U.S., Ongoing regulatory changes and persistent uncertainty mean that that importance will continue even outside of tax season, with challenges that even the most automated of accounting software solutions cannot always tackle. Tackling Tax.

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Taxes South Dakota Software Survey 193

PYMNTS

MARCH 6, 2019

The European Union has announced that it will not move forward with a digital tax plan covering the entire EU, but also said it would look at reforming tax laws for internet companies, according to a report from Reuters. The global tax reform is being prepared by the Organisation for Economic Co-operation and Development (OECD).

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PYMNTS

NOVEMBER 26, 2018

Ohio is leading the charge in terms of accepting bitcoin as a payment method, as it is the first state to accept bitcoin to cover tax bills. The state will eventually open it up to individual tax filers as well. Jerry Brito, director of Coin Center, a Washington, D.C.-based

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Ohio Taxes Bitcoin Arizona 185

PYMNTS

APRIL 10, 2019

One of the largest challenges for procurement chiefs today, according to Sovos VP of Strategy Christiaan Van Der Valk, is tax compliance, and it can easily trip up organizations as regulations become more complex — and as regulators’ strategies to ensure tax compliance become more sophisticated.

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PYMNTS

MARCH 12, 2020

The joys of tax season: complex paperwork, long wait times and check disbursements. Many United States consumers are still reliant on paper checks when it comes to receiving their tax refunds, which represents the largest sum of money many of them will receive at one point during the fiscal year.

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BankBazaar

FEBRUARY 3, 2023

Confused about the changes in income tax rules announced in the latest budget introduced in Parliament on 1 st February, 2023? If you’re still a little at sea about the changes in income tax rules announced by the Finance Minister recently, here’s everything you need to know at a glance. We’re breaking it down for you.

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