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#NewsOnTheGo| 5 things that should matter to you today We have highlighted the six most important developments in the news today, Wednesday, July 3, and present them below. ●Nigerians bought N16tn fuel and generators in 2023, says FG: ●Tinubu approves passage of new tax laws in Q3 ●Reps to investigate 5-year finances of WAEC Read More| https://lnkd.in/eVNBnqsi #theradarng #LatestNews #BeInformed #politics #business #News

#IncomeTax #CaseLaw Key Takeaways from Taxmann's Case Digest: • Amendment made in section 71 by inserting sub-section (3A) by Finance Act, 2017 with effect from 1-4-2018, restricting set off of loss under head 'Income from house property' against any other head to an amount of Rs. 2 lakhs for a particular assessment year, is not ultra vires the provisions of the Constitution Case Name: Sanjeev Goyal v. Union of India Citation: [2024] 163 taxmann.com 122 (Delhi) Read the (Delhi) High Court Judgment: https://lnkd.in/dhu5738T • Yashwant Varma & Purushaindra Kumar Kaurav, JJ. • Dr. M.K. Pandey & Dr. V.V. Chaudhary, Advs. for the Petitioner. • Ms Pratima N. Lakra, CGSC, Ms Vrinda Baheti, Ms Kashish G. Baweja, Advs., Puneet Rai, SSC, Rishabh Nangia, JSC, Ashvini Kumar & Nikhil Jain, Advs. for the Respondent. 𝐅𝐨𝐫 𝐃𝐚𝐢𝐥𝐲 𝐓𝐚𝐱 & 𝐂𝐨𝐫𝐩𝐨𝐫𝐚𝐭𝐞 𝐋𝐚𝐰 𝐔𝐩𝐝𝐚𝐭𝐞𝐬, 𝐅𝐨𝐥𝐥𝐨𝐰 '𝐓𝐚𝐱𝐦𝐚𝐧𝐧' 𝐨𝐧 𝐖𝐡𝐚𝐭𝐬𝐀𝐩𝐩: https://lnkd.in/dXuaSZhc #TaxmannUpdates #Property #FinanceAct #IncomeTaxAct

We go through Occasional and Miscellaneous income categories in today's edition of The Tax World Tour of Japan. Do read and let me know what you think of this as well as the series. Disclaimer: Opinions indicated are personal. Please consult the law and an expert for a deeper understanding. #japanincometax #thetaxworldtour #headsofincome #occasionalincome #miscellaneousincome #residuary #aggregatetaxation #separateselfassessment #specialdeduction #deductionforpublicpension #insurancepolicies #prizemoney #lotterywinnings #necessaryexpenses #orderofcalculation

MiKaDiv - The new notification procedure for capital income tax on dividends from shares and depositary receipts which will be effective from January 1, 2025 will result in fundamental changes for the issuance of German tax certificates by the Federal Central Tax Office. All German financial institutions and banks worldwide that trade in German stocks or hold such securities are affected by this new procedure. Learn more about the implications of MiKaDiv and how financial institutions can optimally prepare themselves: https://lnkd.in/ex-_PRDs #mikadiv #taxreclaim #germantax

As the year is closing in, know this before filing your returns: 📌Proof read your return 📌A person is required to file income tax return even if their income is below the taxable limit 📌As a business owner, keep business and personal finances separate 📌Keep detailed and accurate financial records 📌File the tax by selecting the right return form 📌 Remember deductions 📌 Filing due dates are payment due dates 📌 Declare all sources of income #URATickTock #IBuildUganda

Every word is so relevant even after centuries have passed. Here is what Vidur, one of the renowned policy scholars and fearless advisors in the history, suggested on collecting taxes from citizens. No matter you are running a country or a business there are lessons from our own history for every aspect of life. #IndianHistory #Wisdom #tax #Mahabharat

𝐊𝐧𝐨𝐰𝐥𝐞𝐝𝐠𝐞 𝐇𝐚𝐬 𝐍𝐨 𝐁𝐨𝐮𝐧𝐝𝐚𝐫𝐢𝐞𝐬 𝐅𝐨𝐫𝐞𝐢𝐠𝐧 𝐓𝐚𝐱 𝐂𝐫𝐞𝐝𝐢𝐭 𝐋𝐢𝐦𝐢𝐭𝐞𝐝 𝐭𝐨 𝐈𝐧𝐜𝐨𝐦𝐞 𝐒𝐮𝐛𝐣𝐞𝐜𝐭 𝐭𝐨 𝐃𝐨𝐮𝐛𝐥𝐞 𝐓𝐚𝐱𝐚𝐭𝐢𝐨𝐧 Does the fact that income earned has been subjected to tax in the source State entitle the taxpayer to claim a full tax credit for such taxes paid in the resident State, irrespective of the concessional income offered for tax in the resident State? In this edition of 𝐀𝐫𝐨𝐮𝐧𝐝 𝐓𝐡𝐞 𝐆𝐥𝐨𝐛𝐞, we spotlight a ruling by the Federal Court of Australia addressing this issue. The Court emphasized that double taxation, as outlined in Article 22(2) of the tax treaty, occurs when the same amount of income is taxed twice by different countries, not when both the source and resident States impose taxes on the same 'subject matter.' As a result, the Court restricted the foreign tax credit to the extent of the tax payable in the resident State on 50% of the capital gains derived in the US, according to Article 22(2) of the Australia-US tax treaty. The decision and the analysis can be accessed from the following link https://lnkd.in/gxiW6dHH If you are keen on receiving tax treaty insights, subscribe now to WhatsApp channel https://lnkd.in/gcA_eGGk To catch upon earlier posts, subscribe now to “Tax Treaty Insights” page https://lnkd.in/gW8idiGb #capitalgains #FTC #foreigntaxcredit #USA #Australia #concession #doubletaxation #doubletax #Article22 #FederalCourtofAustralia #FullBenchdecision #residentstate #sourcestate #internationaltaxtreaty #Internationaltax #DTAA #Taxtreatyinsights #DTC #Convention #Courts #opinions #taxtreaty #taxtreatyinterpretation #taxplanning #advice

It is very common for companies to do funding for the companies to engage in a new investment or projects, or sometimes, to repay their debts.  In this article, TMI will discuss potential tax risks that may occur from a capital increase, based on the recent Revenue Department’s view and the Court rulings. #TMIBKK #TMIASSOCIATESTHAILAND #TMIBANGKOK #TMIASSOCIATESBKK #TMIEYES #Capital #TaxLiabilities

The attorney general in Israel approved the publication of a new voluntary disclosure procedure that will enable Israelis who, up to now, have concealed wealth from the state and not paid taxes to make a report and pay the tax they owe without fearing criminal proceedings. The procedure is especially relevant for people who deal in cryptocurrencies and have had difficulty in regularizing their profits from the point of view of reporting and taxation, Israel Tax Authority director Shay Aharonovich announced. Do you want to know more about the voluntary disclosure procedure? Watch my explanation>>

Yesterday's news 😀. My latest article on Pillar Two (Global Minimum Tax) featured in Business Day. I look forward to engaging with our clients on this topic at our JHB offices later this week and in CPT the week thereafter. Zwikhodo Netshituni, Tsholofelo Dihutso, CPRP, Le Roux Roelofse