Topic
Tax Policy
60 stories related to this topic, newest first.
dnaindia.combusiness9 hrs ago
Oil prices surge amid U.S.-Iran fighting, pushing up U.S. gasoline costs
Oil prices have risen sharply due to renewed fighting between the U.S. and Iran, increasing gasoline costs for American consumers. Major energy firms recorded billions in windfall profits in early 2026, prompting renewed calls for taxes on excess earnings.
ZeroHedgebusiness9 hrs ago
Japan Parliament Reclassifies Cryptocurrency as Financial Asset and Raises Penalties for Unregistered Operators
Japan's parliament approved an amendment on July 15, 2026, shifting cryptocurrency from the Payment Services Act to the Financial Instruments and Exchange Act. The change, set to take effect by fiscal 2027, also lowers the top tax rate on crypto gains to 20 percent starting in 20…
thecanary.copolitics1 day ago
Andy Burnham Says He Has Not Ruled Out Wealth Tax
Incoming prime minister Andy Burnham said he would review public finances before considering tax changes. He spoke in an interview with Gary Lineker and pledged to stick to Labour's 2024 manifesto commitments.
business1 day ago
UK Tax Authority Defers Crypto Capital Gains Tax on Certain Loans and Liquidity Pool Swaps
HM Revenue & Customs will treat certain cryptoasset lending and liquidity pool disposals as no gain no loss. The rule defers tax until an economic disposal occurs and takes effect in April 2027.
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finance1 day ago
Florida net domestic migration fell to 22,000 in 2025 from 208,000 annual average during pandemic
Florida's population grew 0.9% in 2025, down from a 2.5% peak in 2022. Net domestic migration dropped sharply while deaths exceeded births and foreign immigration declined.
ndtv.comworld3 days ago
High Court Questions Petition on Yeshiva Tax Benefits After Policy Shift
Israel's High Court examined whether a petition on yeshiva tax benefits should proceed after the state adopted the petition's central argument and implemented a new policy. The state representative stated that the benefit, though formally granted to donors, amounted to indirect s…
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sbs.com.aubusiness3 days ago
Labor Proposes 30 Percent Minimum Tax on Discretionary Trusts From Mid-2028 With Exemptions and Rollover Relief
The plan targets about 210,000 small businesses and is projected to raise $4.47 billion in its first year. Rollover relief would waive federal taxes on restructures, but state stamp duties remain unresolved. Consultation runs until the end of July 2026.
cnbc.comtechnology4 days ago
Trump Accounts for Children Launch July 4 with $1,000 Treasury Deposits for Babies Born 2025-2028
The accounts allow families to contribute up to $5,000 annually after a government seed. Projections show potential growth to hundreds of thousands by age 18 under conservative returns. Experts highlight tax rules and control risks at age 18.
investing.combusiness5 days ago
U.S. Postal Service Raises Forever Stamp Price to 82 Cents on July 12
The increase marks the eighth postage hike in five years. The IRS also introduced an automatic penalty relief process for qualifying taxpayers starting with 2025 returns.
The Independentfinance6 days ago
UK loses £600 million yearly tax revenue under US exemption
Britain is set to forgo about £600 million in yearly tax receipts after the United States received an exemption from a 15 percent global minimum tax agreed by nearly 150 countries. HMRC officials disclosed the figure during a Public Accounts Committee hearing examining multinatio…
freepressjournal.inbusiness6 days ago
California budget adds tax on health providers and software downloads
State lawmakers approved two new taxes expected to raise roughly $2.9 billion annually. One extends a levy on health care providers; the other applies sales tax to software downloads.
abcnews.go.compolitics9 days ago
Democratic candidates criticize Republican support for tax and benefits legislation
Democratic candidates in competitive Senate races are highlighting the effects of a reconciliation bill passed last year. The measure reduced taxes while also cutting eligibility for Medicaid and food assistance programs.
Fox Newspolitics9 days ago
Trump Accounts Offer $1,000 Seed for Children Born 2025-2028
The accounts provide a Treasury-funded starting balance plus additional support for lower-income families. They become available July 4 under legislation passed last year.
cnbc.compolitics10 days ago
Tax Law Extends 2017 Cuts, Raises SALT Cap, and Adds Deductions for Tips, Overtime, and Seniors
The One Big Beautiful Bill Act, signed July 4 2025, extended 2017 tax cuts and added new deductions while tightening work rules for SNAP and Medicaid. High-income households, corporations and some workers gained while federal program enrollment declined. Changes affecting Medicai…
theconversation.comfinance10 days ago
Wealthiest American Reaches One Trillion Dollars in Net Worth
A technology executive became the first person in the United States to hold assets valued at one trillion dollars after a company went public last month. The development follows decades of faster growth in top wealth levels compared with middle-income households.
Substrate placeholder — needs reviewfinance10 days ago
Japan Prime Minister Says Food Tax Cut Needs Budget Reform
The Japanese leader stated that any reduction in the food consumption tax should be funded through budget adjustments. The comment was reported by Nikkei.
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news.google.compolitics11 days ago
MP says tax rises need clear purpose
An independent parliamentarian cautioned against tax increases that lack a defined objective. The MP cited concerns over the cost of living and existing tax revenue levels.
sbs.com.aupolitics11 days ago
Health Secretary Rejects Calls for General Election After Leadership Change
A Cabinet minister defended the government's mandate during a television interview. The exchange centered on whether a new prime minister could alter tax policy without a fresh vote.
abcnews.go.comfinance12 days ago
New York Pied-à-Terre Tax Begins as Luxury Signings Rise but Overall Manhattan Sales Fall
The city's first tax on high-value second homes began July 1 and applies to non-primary residences above $5 million. Compass reported year-over-year gains in Manhattan contract activity for properties priced from $10 million upward during the second quarter. Officials project ann…
politics12 days ago
Hospitals to Offer Enrollment for Government-Branded Savings Accounts at Birth
The Social Security Administration will add account enrollment to the process parents use when obtaining Social Security numbers for newborns. Deposits into the accounts become available starting Saturday.
reason.compolitics12 days ago
One Year After Spending Law Signed, Enrollment and Coverage Changes Reported
The legislation, enacted July 4, 2025, has produced measurable shifts in benefit programs, tax policy, immigration enforcement, and energy investment. Several provisions took effect this week while others remain in progress.
upi.compolitics12 days ago
Trump Accounts for Children Launch on July 4 with 6 Million Opened
More than 6 million Trump Accounts have been opened for U.S. children under 18, including 1.4 million newborns eligible for a $1,000 federal contribution. The accounts are held at Robinhood and invested in low-cost U.S. stock index funds.
politics12 days ago
New tax-advantaged accounts for children begin accepting contributions July 4
The accounts provide a $1,000 Treasury deposit for eligible newborns and allow contributions from parents and employers. They cover children born between January 1, 2025, and December 31, 2028.
world13 days ago
Andy Burnham Proposes Cutting Pub Business Rates and Raising Warehouse Rates
Andy Burnham said he would increase business rates on large warehouses to fund 20 percent cuts for pubs and raise thresholds for smaller firms. He pledged to stick to Labour's manifesto commitments on VAT, income tax and national insurance while funding a £15 billion defence incr…
en.globes.co.ilfinance13 days ago
Australian LNG Export Revenue Forecast Rises $27 Billion on Supply Shortage
Government estimates show LNG export earnings for 2026-27 will reach $67.6 billion. The increase follows supply disruptions linked to Middle East conflict and earlier attacks on Qatari facilities.
winnipegfreepress.combusiness14 days ago
Andy Burnham Seeks Household Support While Bank Tax Debate Revives Competitiveness Concerns
The new Labour MP for Makerfield said Monday he would seek extra help for cash-strapped households without risking public finances. The Trades Union Congress proposed raising £9bn over four years by reversing a prior cut to the bank surcharge.
CalMatterspolitics15 days ago
California voters to decide 14 ballot measures including billionaire tax
State officials have finalized 14 measures for the November ballot after resolving several conflicts between competing interests. One proposal to tax billionaires advanced and is expected to draw the highest campaign spending.
cnet.compolitics15 days ago
Trump's Bill Makes Permanent Bonus Depreciation for Short-Term Rental Investors
President Trump's Big Beautiful Bill, passed last summer, permanently extended 100% bonus depreciation for qualifying short-term rental properties. Investors meeting material participation rules can now deduct roughly a third of a home's value from W-2 income in the first year.
thecanary.coworld15 days ago
Motability Scheme Adds VAT on Top-Ups and Sets Mileage Caps From July 2026
New VAT and Insurance Premium Tax rules took effect July 1, 2026 for most Motability leases ordered after that date. The changes follow Chancellor Rachel Reeves' 2025 Autumn Budget overhaul projected to raise £1 billion over five years. Motability removed luxury vehicles and over…
nbcnews.compolitics16 days ago
Bernie Moreno backs plan to lift Social Security payroll tax cap
Sen. Bernie Moreno endorsed a bipartisan proposal to raise the taxable maximum on Social Security payroll taxes. The plan would generate an estimated $3 trillion for the program amid projections of trust fund shortfalls starting in 2032.
channel4.comworld18 days ago
Louise Haigh Proposes Raising Capital Gains Tax Rates and Easing Fiscal Rules
Louise Haigh called for capital gains tax rates to rise toward income tax levels and for the National Wealth Fund to borrow outside fiscal rules. Her essay in the Renewal journal also urged removal of the Treasury growth mandate.
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The Independentpolitics19 days ago
Opposition proposes tax-free reserve service funded by benefit cap
The party plans to use savings from reintroducing the two-child benefit cap to remove taxes on up to 30 days of reserve service per year. Officials say the change would help recruit an extra 18,000 reservists and bring total reserve strength to 50,000.
politics19 days agoUpdated
California Billionaire Tax Initiative Clears Filing Deadline for November Ballot
A proposed one-time 5% tax on net worth above $1 billion will appear on the November ballot after backers met the June 25 filing deadline. The measure applies retroactively to residents as of January 1, 2026, and is expected to trigger a costly campaign and court challenges.
New York Postai19 days agoUpdated
California Billionaire Tax Measure Qualifies for November Ballot
A proposed one-time 5% wealth tax on state residents worth over $1 billion has gathered enough signatures to appear on the November ballot. Officials said the measure exceeded the required signatures earlier this month. The proposal has drawn opposition from some state Democrats…
nymag.comtechnology20 days ago
California billionaire tax measure qualifies for November ballot
A California proposal to tax billionaires cleared signature thresholds and will appear on the November ballot. The measure follows a campaign that drew millions in spending from both supporters and opponents.
marketwatch.comfinance20 days ago
U.S. Charitable Giving Rose 3% to $617 Billion in 2025, Second-Highest on Record
Total donations rose 3 percent to a near-record level, led by bequests and foundation grants. Fortune reported the figures from the Giving USA Foundation annual study.
cnet.comfinance20 days ago
Social Security OASI Trust Fund Projected to Deplete in Q4 2032, With 78 Percent of Benefits Still Payable
The Social Security trustees' annual report projects depletion of the Old-Age and Survivors Insurance trust fund in the fourth quarter of 2032, when 78 percent of scheduled benefits would be payable. The new estimate arrives several months earlier than prior forecasts and has pro…
rnz.co.nzworld20 days ago
Parliament Passes Capital Gains Tax Changes After Government Withdraws Some Measures and Deals With Greens
Budget measures altering capital gains tax, negative gearing and introducing a $250 offset cleared both houses on 25 June 2026 after Labor secured Greens support. A new party, Community Strong Australia, was also launched the same day by two independent MPs.
zoho.comworld21 days ago
VAT Rate on Family Activities Cut to 5 Percent for Nine Weeks
A temporary reduction in the standard VAT rate from 20 percent to 5 percent on selected family meals, cinema tickets and admission charges begins today and runs until 1 September.
deadline.comworld21 days ago
UK to Cut VAT on Family Attractions and Children's Meals from June to September 2026
The reduction begins 25 June 2026 and runs until 1 September. It covers theme parks, zoos, museums, cinemas and children's restaurant meals.
deadline.combusiness21 days ago
VAT Cut on Family Attractions and Meals Begins in UK
A temporary reduction in value-added tax on children's meals and entry to attractions started Thursday and will run until September 1. The measure covers theme parks, zoos, cinemas, and selected restaurants across England, Wales, Scotland, and Northern Ireland.
themandarin.com.aupolitics22 days ago
Former Officials Urge Court to Review Trump Tax Settlement
Four former IRS and Justice Department officials filed an amicus brief Monday asking a court to declare a May settlement between President Trump and the IRS unlawful. The brief argues the agreement grants improper immunity from tax audits.
politics22 days ago
Labor-Greens Deal Passes Capital-Gains and Negative-Gearing Changes but Bars Super Funds from Housing Loans
The agreement permits Labor's housing tax measures to advance in exchange for an extended NDIS inquiry. Self-managed super funds will lose the ability to borrow for property purchases. A Senate vote is scheduled for 25 June.
deccanchronicle.compolitics23 days ago
Senate Republicans question IRS audit immunity agreement
Five Republican senators told Semafor they have questions about a Justice Department agreement shielding President Trump, his family, and his businesses from IRS audits. Some said they oppose the protection and may seek to repeal it through amendments.
upi.combusiness24 days ago
Crypto Groups Urge House Committee to Advance Mining and Staking Tax Bill
Leading U.S. crypto advocacy organizations sent a letter Sunday asking the House Ways and Means Committee to move the Tax Clarity for Mining and Staking Act without changes. The measure would let recipients of mined assets and staking rewards defer income recognition until sale.
nymag.compolitics24 days ago
California Billionaire Tax Act Qualifies for November Ballot
California’s secretary of state announced last week that the Billionaire Tax Act has qualified for the November ballot. The measure would impose a one-time tax on billionaires and raise an estimated $100 billion over five years. A federal report links the revenue need to welfare…
tass.compolitics24 days ago
Prime Minister Takaichi Says Food Tax Cut Will Last Two Years Then Return to 8%
Prime Minister Sanae Takaichi told a Lower House budget committee on Monday that any consumption tax reduction on food and beverages would revert after two years. She called the measure a temporary bridge to a refundable tax credit program.
france24.comworld25 days ago
New-Energy Vehicles Top 60% of China Car Sales as Fuel-Tax Revenue for Roads Declines
New-energy vehicles reached more than 60% of monthly sales last month. Heavier EVs are increasing road-repair costs while cutting petrol-tax revenue that funds most ordinary-road maintenance.
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freepressjournal.inpolitics25 days ago
One Nation Leader Proposes Changes to Paid Parental Leave and Childcare
The leader of One Nation addressed the National Press Club on Wednesday and outlined proposals affecting paid parental leave, family tax treatment, and the childcare system. Economists said the changes could affect workforce participation and productivity.
business26 days ago
Federal Fuel Excise Discount to Halve from July 1
The federal government will cut its fuel excise discount from 32 cents to 16 cents per litre starting July 1. The Heavy Vehicle Road User Charge will rise from zero to 16 cents per litre until August.
nbcnews.compolitics26 days ago
California ballot measure would tax billionaires at 5% to fund Medicaid
Voters collected enough signatures to place a one-time 5% tax on residents and trusts with assets above $1 billion on the November ballot. The revenue would support the state Medicaid program and public education.
New York Postpolitics27 days ago
California ballot measure proposes 5% tax on billionaires
A proposed 5% wealth tax on billionaires cleared the signature threshold for the November ballot. A tax advisor reported that some millionaires are considering relocation over concerns the threshold could be lowered later.
airedale.futurecdn.networld27 days ago
Data Center Bans Passed in Three Cities This Month
Local governments in Holyoke, Monterey Park, and Seattle approved measures restricting data center construction. A state budget in Arizona included a three-year moratorium on tax breaks for such facilities.
Substrate placeholder — needs reviewpolitics27 days ago
Nigeria Releases Guidelines for Transition to New Tax Laws Effective Since January
The Federal Ministry of Finance issued rules on 18 June 2026 to manage the shift from repealed tax laws to the framework that began on 1 January 2026.
politics27 days ago
UK Tax Changes Prompt Rise in Isle of Man Luxury Home Enquiries from British Buyers
Enquiries for homes over £1 million from UK residents now make up at least half of requests at one leading estate agency, more than double the share recorded 18 months earlier.
nbcnews.compolitics27 days ago
Voter initiative to offset federal healthcare cuts qualifies for California ballot
A proposed one-time 5% tax on assets above $1 billion cleared the signature threshold and will appear on the November ballot unless withdrawn by June 25. The measure is backed by a healthcare workers union and opposed by business groups.
qz.compolitics25 days agoUpdated
California Union Offers Lower Rate on Billionaire Tax Measure After Ballot Qualification
A labor union behind a proposed one-time 5% tax on California billionaires offered Thursday to reduce it to 2% if state officials back the revised plan. The offer came a day after the original measure qualified for the November ballot but did not win support from the governor.
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profootballtalk.nbcsports.comfinance28 days ago
Illinois Governor Signs 0.2% Tax on Crypto Transactions
The tax applies to transfers between personal wallets. Officials said the measure took effect upon signing.
UN
news.google.comworld29 days ago
Pakistan Removes 18% Sales Tax on Menstrual Products and Contraceptives
Pakistan's new budget eliminates the sales tax previously applied to menstrual products and contraceptives. The change takes effect with the latest fiscal plan and replaces an earlier tax that activists had targeted for removal.
The Hillworld29 days ago
Ex-Social Security Chief Calls for Raising Payroll Tax Cap as One Option to Address Shortfall
Former Commissioner Martin O’Malley said raising the earnings cap would address the program’s projected shortfall. A trustees’ report moved the depletion date to late 2032.