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This month in indirect tax: EU report reveals €14.6bn Italian VAT deficit

by usoftax_admin | Nov 3, 2023 | Tax News

Italy’s lost VAT revenue is the highest in the EU, Guernsey shoots down new GST proposals, Egypt introduces VAT on tobacco products, and more

Eric Trump Says He Wasn’t Involved With Dad’s Financials

by usoftax_admin | Nov 2, 2023 | Tax News

Donald Trump’s son Eric testified Thursday in the trial over the New York attorney general’s claims that the former president, his adult sons and others defrauded counterparties in business dealings by lying about the elder Trump’s net worth, saying...

House GOP Passes Israel Aid Bill With $14B IRS Funding Cut

by usoftax_admin | Nov 2, 2023 | Tax News

House Republicans passed legislation Thursday that would rescind $14.3 billion in Inflation Reduction Act funding for the Internal Revenue Service to offset an aid package for Israel, sending the proposal to the Democratic-led Senate, where lawmakers are working on...

Singapore, Cambodia Amend Treaty To Fight Tax Evasion

by usoftax_admin | Nov 2, 2023 | Tax News

Singapore and Cambodia added a provision to their joint tax treaty to reduce double taxation that incorporates the base erosion and profit shifting standards for countering tax abuse, the Inland Revenue Authority of Singapore announced Thursday.

India’s Top Court Says Tax Authority Is Secured Creditor

by usoftax_admin | Nov 2, 2023 | Tax News

A government taxing authority is a secured creditor in a liquidation and has the same priority of payment as other specified creditors trying to collect debts, the Supreme Court of India ruled.

Tax Court Says It Can’t Weigh Late Deficiency Challenge

by usoftax_admin | Nov 2, 2023 | Tax News

The U.S. Tax Court on Thursday dismissed a petition that a Maryland woman mailed two days late, reaffirming that the court doesn’t have jurisdiction in cases challenging Internal Revenue Service notices of deficiency when they are filed after the 90-day window...
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