Tax News Daily
The latest tax news from around the world, summarised and tagged for tax professionals. Updated twice daily.
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Democracy Journal Publishes New Tax Symposium
Democracy Journal has published a new tax symposium featuring multiple perspectives on tax policy. The symposium appears to cover contemporary tax debates, potentially including issues of fairness, corporate taxation, wealth taxation, or broader fiscal policy questions. Academic and policy-oriented tax symposia published in journals like Democracy Journal typically engage with fundamental questions about how the tax system should be structured, who bears the burden, and what reforms might better align the tax code with democratic values and economic goals.
New Tax Justice Network reports on real estate transparency
The Tax Justice Network has published new reports examining real estate transparency, a topic closely linked to tax evasion and avoidance through opaque property ownership structures. Real estate is frequently used to hide wealth and evade taxes via anonymous shell companies and trusts. The reports likely advocate for greater beneficial ownership disclosure in property markets to enable tax authorities to identify undeclared assets and illicit financial flows. Improved transparency in real estate transactions is considered a key tool in combating tax evasion, money laundering, and ensuring that property-related capital gains and wealth are properly reported and taxed.
Should Britain tax its citizens abroad?
This article examines the debate over whether the United Kingdom should adopt citizenship-based taxation (CBT), similar to the US model, which would require British citizens living abroad to pay UK taxes regardless of residency. The discussion covers the policy rationale, potential revenue implications, administrative challenges, and comparisons with the current residency-based system. It considers arguments for and against CBT, including fairness concerns, the risk of driving away high earners, and the complexities of enforcement and double taxation treaty interactions for British expats worldwide.
State and Local Sales Tax Rates, Midyear 2026
The Tax Foundation publishes its midyear 2026 report on state and local sales tax rates across the United States. The report compiles combined state and local sales tax rates by state, highlighting which states have the highest and lowest burdens. It serves as a reference for businesses, policymakers, and consumers navigating the complex patchwork of sales tax regimes across jurisdictions. The data underscores significant variation between states, with some imposing no sales tax at all while others exceed 10% when local rates are combined with state-level rates.
Taxes and the 2026 World Cup: FIFA is the Real Winner
This article examines the tax arrangements surrounding the 2026 FIFA World Cup hosted across the United States, Canada, and Mexico. It highlights how FIFA, as an international non-profit, typically negotiates significant tax exemptions from host nations, including exemptions from corporate income tax, VAT, and other levies on revenues generated during the tournament. The piece explores how FIFA structures its operations to minimize tax liabilities while host governments absorb costs and forego substantial tax revenues. It raises broader questions about the fairness of tax concessions granted to major sporting bodies and the public policy implications for host country taxpayers.
Hemel: Madisonian Nonprofit Law and Checks and Balances
Daniel Hemel examines the intersection of Madisonian constitutional principles and nonprofit law, exploring how checks and balances apply to nonprofit organizations and their tax-exempt status. The analysis considers how the structure of nonprofit law reflects broader constitutional design principles, with implications for tax exemption oversight and IRS regulatory authority over nonprofits. The piece is relevant to tax policy discussions around the governance and accountability of tax-exempt entities under Section 501(c) and related provisions of the Internal Revenue Code.
A Few Problems with Targeting Energy Companies with a Stock Buyback Tax
The Tax Foundation critiques proposals to target energy companies with a stock buyback excise tax, arguing the policy is poorly designed and economically harmful. The piece examines how a punitive excise tax on share repurchases by oil and gas firms would distort capital allocation, reduce investment, and fail to function as an effective windfall profits measure. It contends that such a tax conflates stock buybacks with excess profits and would create unintended consequences across the broader corporate sector, not just energy companies, undermining the case for using excise taxes as targeted fiscal instruments.
IRS Shares Data with More Than 1,000 Organizations, Some of Which It Can’t Identify
A report by the Treasury Inspector General for Tax Administration (TIGTA) reveals that the IRS has data-sharing agreements with over 1,120 organizations, and alarmingly cannot identify some of them. The findings raise serious concerns about taxpayer data privacy, security controls, and oversight within the IRS's data governance framework. TIGTA flagged the lack of adequate tracking and accountability for these agreements. The article is directly relevant to tax administration and compliance, touching on how sensitive taxpayer information is managed, shared, and potentially exposed, with implications for IRS reform and Congressional oversight of the agency's data practices.
There Is No Low-Tax Case for Tariffs
The Tax Foundation argues there is no credible low-tax justification for tariffs, rebutting claims that import duties serve as a legitimate alternative to income or consumption taxes. The article contends that tariffs function as hidden taxes on consumers and businesses, raise costs across supply chains, and distort trade patterns without delivering meaningful fiscal benefits. It challenges the framing of tariffs as pro-growth policy, asserting they undermine the efficiency gains associated with genuine tax reduction. The piece situates tariffs within the broader debate over trade and tax policy in the United States.
OECD Helping Developing Nations On Min. Tax, Transparency
The OECD is providing technical assistance and capacity-building support to developing nations to help them implement the global minimum tax (Pillar Two) and improve tax transparency standards. The initiative aims to ensure lower-income countries can effectively adopt the 15% global minimum corporate tax rules and participate in international tax transparency frameworks. This support addresses concerns that developing nations lack the administrative infrastructure to enforce these complex measures, potentially missing out on revenue gains while multinational enterprises shift profits.
Remembering Bill Archer
A tribute to Bill Archer, the former Republican congressman from Texas who served as chairman of the House Ways and Means Committee. Archer was a significant figure in U.S. tax policy, known for his advocacy of fundamental tax reform, including his push to abolish the income tax and replace it with a consumption-based tax system. His tenure on the Ways and Means Committee made him one of the most influential voices in shaping American tax legislation during the 1990s, and his legacy continues to influence tax reform debates.
A new era of international tax cooperation
The article discusses emerging frameworks for international tax cooperation, likely addressing efforts by global bodies such as the UN or OECD to coordinate tax rules across jurisdictions. It explores how multilateral agreements and information-sharing mechanisms are reshaping the international tax landscape, potentially covering topics such as the global minimum tax under Pillar Two, base erosion measures, and the push by developing nations for greater representation in setting global tax standards. The piece reflects on whether new cooperative frameworks represent a genuine shift in power dynamics between developed and developing countries in international taxation.
IRS Failed to Meet Veteran Hiring Goal
The IRS failed to meet its veteran hiring goals, according to a report highlighting the agency's workforce management shortcomings. The IRS is required under federal law to prioritize hiring veterans, but fell short of mandated targets. This has implications for the agency's overall staffing capacity, which affects its ability to process tax returns, conduct audits, and enforce tax compliance. Chronic understaffing at the IRS has long been linked to reduced tax enforcement effectiveness and a widening tax gap, making workforce issues a significant concern for tax administration in the United States.
Kalshi Sues Illinois to Nullify New Prediction Market Tax Law
Prediction market platform Kalshi has filed a lawsuit against Illinois seeking to nullify a newly enacted state tax law targeting prediction markets. The legal challenge contests the validity of Illinois's tax on prediction market transactions, raising constitutional and regulatory arguments. The case highlights growing legislative scrutiny of prediction markets as they expand into regulated financial products. The outcome could have significant implications for how states tax emerging financial instruments and whether such targeted tax laws can withstand legal challenges.
Senate Democrat Demands Records on DOJ, IRS Settlement Planning
A Senate Democrat has formally demanded records related to settlement planning discussions between the Department of Justice and the IRS. The inquiry raises concerns about potential political interference in tax enforcement and settlement decisions, touching on the independence of tax administration. The demand for records signals congressional oversight scrutiny over how the IRS and DOJ coordinate on resolving high-profile tax disputes and settlements, with broader implications for the integrity of federal tax controversy processes and enforcement priorities.
FTO vows to tackle tax maladministration
Pakistan's Federal Tax Ombudsman (FTO) has pledged to address tax maladministration, signaling a renewed commitment to resolving taxpayer grievances and improving the integrity of the country's tax administration. The FTO's mandate focuses on identifying systemic issues within tax authorities, ensuring fair treatment of taxpayers, and reducing instances of corruption or procedural failures. This initiative is part of broader efforts to strengthen Pakistan's tax governance framework and improve compliance by building taxpayer trust in the Federal Board of Revenue and related institutions.
The New York Pied-à-Terre Tax: What You Should Know
New York's proposed pied-à-terre tax targets non-primary residential properties owned by non-residents, particularly high-value secondary homes in New York City. The tax aims to generate revenue from wealthy out-of-state and foreign owners who maintain luxury properties in the city without contributing to local income tax bases. The article examines the structure of the proposed levy, its rate tiers based on property value, constitutional and legal considerations, and potential revenue implications. It also explores comparisons with similar taxes in other jurisdictions and the political dynamics surrounding its passage in the New York legislature.
Stamp Taxes on Shares Manual
HMRC's Stamp Taxes on Shares Manual provides official guidance on the application of UK stamp duty and stamp duty reserve tax (SDRT) on share transactions. It covers the rules governing when these taxes apply, how they are calculated, and the obligations of parties involved in share transfers and agreements to transfer shares. The manual serves as a reference for practitioners and taxpayers navigating UK stamp tax compliance on equity transactions, including exemptions, reliefs, and procedural requirements for submitting returns and paying stamp taxes on chargeable instruments.
Moldova Proposes Major VAT Reforms — Broadening Tax Base and Aligning with EU VAT Framework
Moldova is proposing significant VAT reforms aimed at broadening the tax base and aligning its VAT framework with European Union VAT rules. The proposed changes reflect Moldova's ongoing EU accession aspirations and efforts to harmonize its indirect tax legislation with the EU VAT Directive. Key reforms include expanding taxable supplies, revising exemptions, and updating registration thresholds. These changes would have material implications for businesses operating in or trading with Moldova, requiring reassessment of VAT positions, compliance processes, and supply chain structures as the country moves closer to EU regulatory standards.
Tracing the Development of VAT Refund Rules — Continuous Reform of VAT Recovery Systems
This article traces the historical development and ongoing reform of VAT refund and recovery rules across jurisdictions. It examines how VAT refund mechanisms have evolved over time, including changes to input tax recovery systems, refund procedures, and the policy rationale behind continuous legislative amendments. The piece provides a comparative and analytical perspective on how governments have adjusted VAT recovery frameworks to balance revenue protection with business cash flow considerations. It is relevant for tax professionals seeking to understand the structural and policy drivers behind VAT refund reform internationally.
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