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CCUS Investment Tax Credit: A Canadian Tax Lawyer’s Guide to Carbon Capture Incentives
A Canadian tax lawyer's guide to the Carbon Capture, Utilization, and Storage (CCUS) Investment Tax Credit introduced by the federal…
Noked: “Congress-Proof” International Tax Reforms
This article examines academic proposals for international tax reforms that could be implemented without requiring Congressional approval. The piece explores…
Hawaii amends eligible business activities for Enterprise Zone Program
Hawaii has amended the eligible business activities qualifying for its Enterprise Zone Program. The program offers tax incentives to businesses…
Guidance: Approved offshore reporting funds
HMRC guidance on approved offshore reporting funds, which are funds that have elected to report their income to investors rather…
Venture Capital Schemes Manual
HMRC's Venture Capital Schemes Manual provides detailed guidance on UK tax-advantaged investment schemes including the Enterprise Investment Scheme (EIS), Seed…
Invoice Issued Outside KSeF Still Deductible for Corporate Income Tax
Polish tax authorities have clarified that invoices issued outside the mandatory KSeF (Krajowy System e-Faktur) structured invoicing platform remain deductible…
New Jersey Passes Budget with Tax Law Changes Affecting Individuals and Businesses
New Jersey has passed its state budget incorporating significant tax law changes impacting both individuals and businesses. The legislation introduces…
Lahore ATIR rules Super Tax can be adjusted against income tax refunds
The Lahore Appellate Tribunal Inland Revenue (ATIR) has ruled that Pakistan's Super Tax can be adjusted against income tax refunds…
House Ways and Means Exploring Perceived Disparity in Sports Team Pay Deduction
The House Ways and Means Committee is investigating a perceived disparity in tax deductions related to sports team player compensation.…
Tax Subsidies for R&D Expenditures in Europe, 2026
This article from the Tax Foundation examines tax subsidies for research and development (R&D) expenditures across European countries for 2026.…
Uganda Tax Appeals Tribunal Rejects URA’s Treatment of VAT/Income‑Tax Variances (Ericsson AB)
Uganda's Tax Appeals Tribunal has ruled against the Uganda Revenue Authority (URA) regarding its treatment of discrepancies between VAT and…
Faivre & Cen: Taxing Artificial Intelligence
Academic article by Faivre and Cen examining the theoretical and practical frameworks for taxing artificial intelligence. The piece explores policy…
Gibraltar 15% Transaction Tax – 15 July 2026
Gibraltar is introducing a 15% Transaction Tax effective 15 July 2026. This new levy represents a significant fiscal policy development…
Puerto Rico Act 60 Investigations
Puerto Rico Act 60 (formerly Acts 20/22) offers significant tax incentives including a 4% corporate tax rate and 0% tax…
IRS Asks 7th Circ. To Rehear $300M Hyatt Perks Tax Dispute
The IRS is petitioning the Seventh Circuit Court of Appeals for a rehearing in a $300 million tax dispute involving…
R&D Tax Credits: Fueling Innovation in Technology & Life Sciences
This article explores how R&D tax credits serve as a significant financial incentive for companies in the technology and life…
KP asks Centre to defer tax exemption withdrawal in Malakand, merged districts
The Khyber Pakhtunkhwa (KP) provincial government has requested the federal government to defer the withdrawal of tax exemptions in the…
Poland’s Windfall Profits Tax: Short-Term Fiscal Gains for Long-Term Economic Costs
This Tax Foundation analysis examines Poland's windfall profits tax, assessing its short-term fiscal benefits against longer-term economic drawbacks. Windfall taxes…
N.Y. Times: Microsoft Disclosure Provides Rare Glimpse of Tax Haven Tactics
The New York Times reports on a rare Microsoft disclosure revealing the company's use of tax haven strategies to minimize…
Why C Corporations Are Back: The QSBS Advantage Explained
This article examines the resurgence of C Corporations among startups and investors due to the Qualified Small Business Stock (QSBS)…
Interim Tax Reporting: Avoiding Surprises in the Quarters
Interim tax reporting requires companies to estimate their annual effective tax rate and apply it to year-to-date income each quarter,…
Feds to Decide Fate of California’s $2 Billion Plan to Tax Health Insurers to Fund Medi-Cal
Federal authorities are reviewing California's proposal to impose a $2 billion tax on health insurers to fund the Medi-Cal program,…
Child Care Tax Credit for New Hampshire Biz Becomes a Reality
New Hampshire has enacted a child care tax credit for businesses, making it law after legislative approval. The credit is…
Grocers' Microcaptive Not Valid For Tax Benefit, 7th Circ. Told
The Seventh Circuit has been urged to rule that a grocery company's microcaptive insurance arrangement does not qualify for tax…
Connecticut discusses conformity to federal research, experimental expenditures
Connecticut is considering conformity to federal tax treatment of research and experimental (R&E) expenditures. Under the Tax Cuts and Jobs…
The Impact of Section 174A on Taxpayers: Opportunities and Ongoing Challenges
Section 174A introduces significant changes to the tax treatment of research and experimental (R&E) expenditures for U.S. taxpayers. The provision…
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.…
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…
Brauner: A Purpose-based Reform of Income Sourcing Rules
Professor Brauner proposes a purpose-based reform of U.S. income sourcing rules, which determine how cross-border income is allocated between jurisdictions…
Faulty tax calculations cost FBR Rs118b in super tax: Audit Report
Pakistan's Federal Board of Revenue (FBR) suffered a loss of Rs118 billion in super tax revenue due to faulty tax…
Calif. Lawmakers OK Extending Tax Credits For Job Creation
California lawmakers have approved legislation extending tax credits designed to incentivize job creation within the state. The measure continues existing…
Session 2b: Competitiveness and tax
A Bruegel session examining the relationship between tax policy and European competitiveness. The discussion likely addresses how tax structures across…
Mexico Tax Court Clarifies Contributions and Dividends
Mexico's Tax Court has issued a ruling clarifying the tax treatment of capital contributions and dividends, providing guidance on how…
House Ways and Means in Early Stages of Tackling Sports Taxation
The House Ways and Means Committee is in early stages of examining how sports franchises and related entities are taxed,…
AI in corporate tax: Key trends, use cases, and what’s next
This article explores how artificial intelligence is transforming corporate tax functions, highlighting key trends, practical use cases, and future developments.…
Financial costs
This UK HMRC toolkit guidance covers the tax treatment of financial costs, focusing on the distinction between capital and revenue…
General
This UK HMRC capital versus revenue expenditure toolkit provides general guidance on distinguishing capital from revenue costs for tax purposes.…
Corporate intangible assets
This UK HMRC guidance covers the tax treatment of corporate intangible assets, distinguishing between capital and revenue expenditure. It addresses…
Legal and professional fees
This UK HMRC toolkit guidance addresses the tax treatment of legal and professional fees, helping determine whether such costs constitute…
IT costs
This HMRC guidance specifically addresses the tax treatment of IT costs under the capital versus revenue expenditure framework in the…
Acquisition, improvement and alteration of assets
This HMRC guidance covers the tax treatment of expenditure on acquisition, improvement, and alteration of assets, distinguishing between capital and…
Capital versus Revenue expenditure toolkit
HMRC's Capital versus Revenue Expenditure Toolkit assists tax agents and businesses in correctly distinguishing between capital and revenue expenditure for…
European Commission Proposes DAC Recast to Simplify EU Tax Reporting Framework
The European Commission has proposed a recast of the Directive on Administrative Cooperation (DAC) to streamline and simplify the EU's…
Life Sciences and the R&D Tax Credit: Why Documentation Matters
This article examines the importance of proper documentation for life sciences companies claiming the R&D tax credit in the US.…
Is the European Commission’s Tax Omnibus Proposal a Step in the Right Direction?
The European Commission's Tax Omnibus proposal is examined for its potential to streamline and simplify EU tax rules. The analysis…
The UAE’s New Transfer Pricing Regime: From a Tax-Free Reputation to Arm’s Length Compliance
The UAE has introduced a formal transfer pricing regime following the implementation of corporate tax in 2023, marking a significant…
Pakistan notifies Finance Act 2026-27 ahead of July 1 budget rollout
Pakistan has officially notified the Finance Act 2026-27 ahead of its July 1 budget implementation date. The act introduces a…
Four definitions to change the world: Struggles over meaning in the UN tax convention negotiations
The article examines four critical definitional battles shaping the UN tax convention negotiations, which could fundamentally alter the global tax…
Capital Gains Manual
HMRC's Capital Gains Manual provides comprehensive guidance on the taxation of capital gains in the UK. It covers the rules…
Has the Income-tax Act, 2025 Changed the Law on Capital Gains Exemption for Depreciable Assets?
India's Income Tax Act, 2025 has prompted analysis of whether it alters the established legal position on capital gains exemption…
ITAT Reduces Bogus Purchase Addition to 10% for Civil Contractor, Recognises Lower Industry Margins
India's Income Tax Appellate Tribunal (ITAT) has reduced a bogus purchase addition to 10% of the disputed amount for a…
The Pros and Cons of Common Exit Options for Construction Owners: ESOPs, PE, Third-Party Sales
This article examines exit strategies for construction business owners, including Employee Stock Ownership Plans (ESOPs), private equity, and third-party sales.…
Received Dividend, Loan, or Buyback Proceeds? Decode Deemed Dividend Under Section 2(22) with Practical Examples
This article provides a practical guide to India's deemed dividend provisions under Section 2(22) of the Income Tax Act, covering…
ITAT Upholds Section 80P Deduction for Co-operative Credit Society, Deletes Section 68 Addition on Cash Deposits
India's ITAT has upheld the Section 80P deduction claimed by a co-operative credit society and simultaneously deleted an addition made…
ITAT Allows Broken Period Interest, Rules MAT Inapplicable to Foreign Banks
India's Income Tax Appellate Tribunal (ITAT) has ruled on two significant issues affecting foreign banks operating in India. First, the…
ITAT Quashes Section 263 Revision Where AO Conducted Detailed Enquiry
India's Income Tax Appellate Tribunal (ITAT) has quashed a Section 263 revision order issued by the Commissioner of Income Tax,…
ITAT Quashes Reassessment Based Solely on Pre-2021 Third-Party Search Material
India's ITAT has quashed a reassessment proceeding that was initiated solely on the basis of third-party search material predating the…
ITAT: Assessment Quashed as AO Exceeded Scope of Limited Scrutiny Without Mandatory Approval
India's ITAT has quashed an assessment order where the Assessing Officer exceeded the permissible scope of a limited scrutiny without…
ITAT Quashes Reassessment Notice Issued After 31 March 2022 for AY 2015-16 as Time-Barred
India's ITAT has quashed a reassessment notice issued after 31 March 2022 for Assessment Year 2015-16, ruling it time-barred under…
ITAT Allows Deduction of Interest on Delayed Radio Migration Fees, Grants Depreciation on Acquired Workforce Intangibles
India's ITAT has allowed a taxpayer's deduction for interest paid on delayed radio migration fees, treating it as a revenue…
ITAT Deletes Section 14A Disallowance for Failure to Record Mandatory Satisfaction Before Invoking Rule 8D
India's ITAT deleted a disallowance made under Section 14A of the Income Tax Act, which relates to expenditure incurred to…
Section 234C’s Hidden Cushion: The Lesser-Known 12% and 36% Advance Tax Rule
This article examines Section 234C of India's Income Tax Act, focusing on a lesser-known provision that reduces the standard 3%…
Mumbai ITAT Restricts Addition on Alleged Bogus Diamond Purchases to 2% Following Earlier Orders in Assessee’s Own Case
The Mumbai Income Tax Appellate Tribunal (ITAT) restricted the tax addition on alleged bogus diamond purchases to 2% of the…
Mumbai ITAT: Typographical Error in Tax Audit Report Cannot Deny PF Deduction if Contribution Was Actually Paid Within Due Date
The Mumbai ITAT ruled that a typographical error in a tax audit report cannot be used to deny a deduction…
Mumbai ITAT Allows 60% Depreciation on Computer Software and Restricts Section 14A Disallowance to Assessee’s Suo Motu Computation
The Mumbai ITAT allowed 60% depreciation on computer software, affirming its classification as eligible for the higher depreciation rate applicable…
Bangalore ITAT Deletes ₹10 Lakh Addition Caused by DRP’s Typographical Error- AO Cannot Sustain Addition Contrary to DRP’s Intent
The Bangalore ITAT deleted a ₹10 lakh tax addition that arose from a typographical error made by the Dispute Resolution…
Report Suggests 40% of Workers Have Used AI to Make Fake Expense Receipts
A report reveals that approximately 40% of workers have used AI tools to fabricate fake expense receipts, raising significant concerns…
Three Questions to Ask About New Tax Transparency Regimes
This article examines emerging tax transparency regimes requiring companies to publicly disclose tax information, posing three critical questions organizations should…
The Importance of Separating Business and Personal Expenses
This article emphasizes the critical importance of keeping business and personal expenses separate for tax and accounting purposes. Mixing expenses…
European Commission Launches DAC Recast: Consolidating a Decade of Tax Transparency Rules into One Single Legal Framework
The European Commission has launched a recast of the Directive on Administrative Cooperation (DAC), consolidating over a decade of incremental…
Webinar: The First Anniversary of OB3: Examining Implementation and the Impact of the 2025 Tax Bill – July 23, 2026
A webinar hosted by the National Tax Association marking the first anniversary of OB3 (One Big Beautiful Bill), examining its…
DMA Acquires Barron Corporate Tax Solutions in Illinois
DMA, a property tax and business tax consulting firm, has acquired Barron Corporate Tax Solutions, an Illinois-based corporate tax advisory…
Why Interest on Foreign Tax Arrears is Not Deductible: Canadian Tax Lawyer Explains Tax Court Decision in Bank of Montreal v. The King, Paragraph 18(1)(a)
A Canadian Tax Court decision in Bank of Montreal v. The King examined whether interest on foreign tax arrears is…
Govt abolished Super Tax for major export-oriented companies
The Pakistani government has abolished the Super Tax for major export-oriented companies, a significant policy shift aimed at boosting the…
ITAT Rejects Section 56(2)(viib) Addition as Shares Were Issued to Holding Company
The Income Tax Appellate Tribunal (ITAT) rejected a tax addition made under Section 56(2)(viib) of the Indian Income Tax Act,…
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