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Think Tank Bemoans UK Coalition Rift On Marriage Tax Breaks 5/21/2012 The planned introduction of new tax breaks for UK families is being halted by a 'political tug of war' in the coalition government, the Centre for Social Justice has warned.
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Australia To Reform Not-For-Profit Sector Regulation 5/21/2012 The Australian government is to introduce a new regulatory framework for the not-for-profit sector, to be overseen by an Australian Charities and Not-for-profits Commission. The government will, however, push back the enforcement date for the revised governance and financial reporting standards.
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Alderney Licenses International Charity Lottery 5/18/2012 The Alderney Gambling Control Commission has announced that it has provided
a license to the first international charity lottery to operate from the specialist e-gaming territory, situated in the English channel.
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Congress Studies IRS's Treatment Of Charities 5/21/2012 The Oversight Subcommittee of the House of Representatives Ways and Means
Committee has held a hearing on current issues related to United States tax-exempt
organizations, including the compliance initiatives of the Internal Revenue Service related, in particular, to recent efforts for tax-exempt organizations to
design and implement good governance standards.
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UK Donations To Qualify For UK Top Up Payments 5/10/2012 Debate over the UK's reform of the tax treatment of charities continues, with news that charities will be able to claim top-up payments on certain small donations without needing donors to claim tax reliefs, and a new survey showing that a majority of peers object to plans to cap tax relief on donations.
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IRS Reviews Tax-Exempt Status Revocations 5/7/2012 Following a request from the United States Internal Revenue Service, the Treasury
Inspector General for Tax Administration reviewed its Exempt Organizations
function’s implementation of the provisions of the Pension Protection Act
of 2006 related to the automatic revocation of an organization’s tax-exempt
status.
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IRS Accepting Applications For Taxpayer Clinic Grants 5/4/2012 After the recent disclosure that applications could be made for the Tax Counselling
for the Elderly and Volunteer Income Tax Assistance grant programmes, the United
States Internal Revenue Service has now also announced the opening of the
2013 Low Income Taxpayer Clinic grant application process.
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CRA Reduces Burden On Tax Exempt Businesses 4/27/2012 Refunds and rebates will not be withheld from tax exempt corporations when they have outstanding tax returns, under rules set out by the Canada Revenue Agency.
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Canadian Budget Tax Legislation Tabled 4/24/2012 Canada's Finance Minister Jim Flaherty has tabled legislation which will implement certain tax provisions of his 2012 Budget, including reforms to tax shelters and minor changes to the sales tax system.
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Charities Fear UK Tax Relief Cap 4/17/2012 Chief executives of the UK's top charities fear that the planned cap on tax relief will curb donations and have called on the government to scrap the proposals.
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Zurich Initiative Eyes End Of Church Tax 'Relic' 3/20/2012 Young Liberals in the Swiss canton of Zurich have recently submitted a
cantonal initiative to the cantonal administration, aimed at reducing the tax
burden on businesses by abolishing the controversial church tax.
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US Tax-Exempt Groups Open To More Scrutiny 3/20/2012 The United States Internal Revenue Service has launched a new online search tool,
Exempt Organizations Select Check, to help users more easily find key information
about tax-exempt organizations, such as federal tax status and filings.
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GOP Further Pressures IRS On Donation Investigations 3/19/2012 Twelve Republican Senators have written to the United States Internal Revenue
Service further questioning the recent selective enforcement on tax-exempt
organizations, and urging that it prevents politics from playing a role in any
action it takes.
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NZ Pushes Tax Credits For 'Payroll Giving' 3/15/2012 New Zealand's Revenue Minister Peter Dunne has praised the creation of a new website which offers information for employers seeking to establish Payroll Giving schemes in their workplaces.
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GOP Pressurizes IRS On Donations Probes 3/7/2012 While the United States Internal Revenue Service has said that it will take
no further its investigation into political donations to non-profit organizations,
including local Tea Party groups, the Republican Party is continuing to insist
that the agency should provide full information about what prompted the audit
in the first place.
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Ireland To Improve Tax Relief For Approved Donations 2/14/2012 Minister for Finance, Michael Noonan, has announced his intention to bring forward amendments to the charitable donations scheme, which will take effect from January next year.
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Australia Discusses Not-For-Profit Tax Reforms 2/14/2012 The Australian government has announced the membership and terms of reference of a new working group that will consider ideas for improving tax concessions for the not-for-profit sector.
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Guernsey Outlines 2012 Financial Sector Agenda 1/25/2012 Guernsey's Commerce and Employment Department has outlined its agenda for the
forthcoming year, which includes concluding legislative programs to allow for
the creation of Limited Liability Partnerships, Limited Partnerships and Foundations
in Guernsey.
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GBP1bn Tax Boost For UK Charities 12/29/2011 UK charitable donations could be 'turbo-charged' under new plans from a think-tank which include proposals for the introduction of a new tax relief.
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IRS Extends Deadline For Tax-Exempt Organizations 12/21/2011 The US Internal Revenue Service has announced that certain tax-exempt organizations will have extra time in which to file their annual returns while the agency's electronic filing system undergoes an update.
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IoM Redoubles Promotional Efforts 11/29/2011 The Isle of Man's Chief Minister Allan Bell has concluded another week of packed
engagements to actively promote the island to international investors, and to highlight the
efforts being made by the government to develop and further diversify the economy.
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UK Voluntary Grant Scheme Generates More Tax 11/22/2011 The UK's coffers benefited from a GBP16.8m (USD26.3m) tax boost last year generated as a result of a grant scheme organized by HM Revenue and Customs.
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Australia To Redefine Charity In Law 11/2/2011 The Australian government has launched a consultation on a new statutory definition of charity for tax purposes, applicable across all Commonwealth laws from July 1, 2013.
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US Congress Studies Charitable Giving Tax Incentives 10/20/2011 The United States Senate Committee on Finance held a hearing on October 18 to
consider the various proposals that have been made to alter the income tax treatment
of charitable giving by individual donors, to ensure that such donations are encouraged
in the most efficient way possible.
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IoM Charity Reporting Requirements Change 8/26/2011 The government of Isle of Man has reminded Manx-registered charities of new
income thresholds, in place since August 1, 2011, that may require them to have
their accounts independently examined or audited.
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Australia To Modify Charity Tax Law 7/20/2011 Australian Assistant Treasurer Bill Shorten has released for consultation an exposure draft of legislation and draft guidelines for a new regulatory framework for public ancillary funds.
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UK Consults On Tax Break For Art Donors 7/4/2011 The UK is contemplating offering tax breaks in return for people donating pre-eminent objects or works of art to the nation in their wills, and has launched a consultation detailing the proposals.
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UK Consults On VAT Exemption Provisions 6/30/2011 The UK has launched a consultation on how a European value-added tax cost-sharing exemption might be used by UK businesses and organizations, with a view to exploring a framework for its possible implementation.
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Australia Announces Not-For-Profit Reforms 5/27/2011 The Australian Government has released a discussion paper seeking public views on how to implement the Government's 2011-12 Budget announcement to better target not-for-profit tax concessions for unrelated commercial entities.
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Australians Granted Tax Relief On US Donations 5/25/2011 The Australian Assistant Treasurer Bill Shorten has declared the multiple tornadoes that hit Southern USA on April 28 and May 22 a disaster for tax purposes.
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Ireland Clarifies VAT Treatment Of SMS Donations 5/17/2011 The Irish Revenue agency has released a brief clarifying the correct value-added tax treatment applicable in respect of charitable donations made via mobile telephone text message shortcodes.
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Australia Reforms Not-For-Profit Tax Concessions 5/12/2011 The Australian government has announced a range of Budget measures to make it easier for the not-for-profit sector to deliver assistance to Australia's most vulnerable people.
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Germany Promotes Tax Breaks For Arts And Culture 5/10/2011 Aiming to promote art and culture in Germany, the German finance ministry
has recently announced that numerous fiscal incentives, granting both exemptions
from and reductions in taxation, are contained in a variety of the country’s
tax laws.
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Guernsey Extends Charities Law To Alderney 5/6/2011 The Guernsey government has announced that from June 30, 2011, all Non-Profit Organizations based in the island of Alderney will be required to register with the Registrar of Charities and Non-Profit Organizations.
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Isle Of Man Apologises For Charity Rates Error 4/22/2011 The Isle of Man Treasury has confirmed that some 2011-12 property tax demands sent to charities have been issued without reductions allowed due to their charitable status, and has apologised for any confusion and inconvenience caused by this error.
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UK Inheritance Tax Breaks Criticized 4/12/2011 A leading law firm has warned that inheritance tax measures included in the recent UK Budget may risk the encouragement of 'a deferral of giving', and fails to take into account other important factors such as lifetime giving.
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IRS Announces 'Qualified Disaster' Relief For Japan 4/12/2011 The United States Internal Revenue Service has issued guidance that designates
the earthquake and tsunami in Japan in March 2011 as a ‘qualified disaster’
for federal tax purposes.
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Netherlands In Court Over Charity Tax Rules 4/7/2011 The European Commission has decided to refer the Netherlands to the European Union Court of Justice because its tax treatment of gifts to charities is considered discriminatory and in breach of EU rules on the free movement of capital.
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New Zealand Tax Relief Measures Announced 4/5/2011 The New Zealand government has put in place several tax relief measures to help Christchurch residents and businesses trying to get back on their feet after last month's earthquake.
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NZ Government Considers Earthquake Tax Issues 3/21/2011 Although the Inland Revenue had already put in place a number of urgent measures in response to last month’s Christchurch earthquake, the government is looking at further measures in response to issues raised by the public, New Zealand Revenue Minister Peter Dunne has said.
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NZ Accountants Call For Improved Charitable Gifts Rules 3/8/2011 Following the Christchurch earthquake disaster and concerns raised by its clients, a Wellington-based accountancy firm has addressed an open letter to the government and the Inland Revenue Department recommending amendments to tax legislation, seeking to have charitable donations of goods and services deductible in a similar way to donations of cash.
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Tax Credits Available For NZ For Quake Donations 3/2/2011 New Zealand Revenue Minister Peter Dunne has reminded residents that all Christchurch earthquake cash donations over NZD5 by individuals through approved donee organizations can gain a tax credit, and will be tax deductible when made by companies.
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Australia Gives Tax Breaks For Earthquake Relief 2/24/2011 The Australian Assistant Treasurer Bill Shorten has announced that the earthquake which hit the New Zealand city of Christchurch yesterday has been recognized as a disaster for tax purposes.
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Study Highlights Tax On UK Charity Sector 2/7/2011 The Charity Tax Group, a body set up to make representations to the UK Government on charity taxation, has published a Charity Tax Map – a detailed study outlining the impact of taxation on the charitable sector.
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Canadian Charity Tax Break Expires 12/31/2010 At the time of writing, Canadian taxpayers had just a few hours to claim a tax credit for charitable donations, according to Minister of National
Revenue, Keith Ashfield.
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UK Explores Incentives For Charitable Giving 12/31/2010 The UK government published on December 29 a Green Paper with the aim of starting a national debate on society’s attitudes to giving. Both Conservative and Labour MPs, however, have been critical, saying that charities should not have been hit with the value-added tax hike and that people are already struggling with too high taxes.
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HMRC Withdraws VAT Concessions 12/29/2010 The UK tax authority, HM Revenue and Customs has announced the withdrawal of a number of extra statutory concessions, in particular on value-added tax,
in a technical note.
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UK Announces Anti Avoidance Measures 12/17/2010 The UK government has announced a number of proposals in its draft Finance Bill
to tackle tax avoidance, particularly in relation to intra-group transactions,
their financial reporting, and inheritance taxation.
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UK Tax Panel Publishes Interim Report 12/16/2010 The Office of Tax Simplification published an interim report of the review of tax reliefs on December 13, and this will act as a test to gauge reaction to the OTS methodology for the rest of the review.
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Canada, US Agree Tax Relief For Land Donors 11/3/2010 The Canadian Minister of Finance, Jim Flaherty has announced that the Canadian government and US
authorities have agreed to regulatory amendments to allow US citizens to donate
real property they own in Canada to the Canadian public, and to receive US tax
relief on such donations, at no cost to the Canadian taxpayer.
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IoM Modernizes Company Law 10/25/2010 The Isle of Man parliament last week approved two separate sets of regulations
modernizing the island’s company law.
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EC Targets 'Discriminatory' Dutch Tax Laws 10/5/2010 The European Commission has requested that the Netherlands change discriminatory
tax rules pertaining to certain succession and gift duties.
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IRS Reminds Taxpayers of October 15 Deadlines 10/4/2010 The United States Internal Revenue Service is warning about the approaching
October 15 deadline for individual taxpayers who requested an extension to file
their 2009 tax returns, and for small non-profit organizations at risk of losing
their tax-exempt status because they have not filed the required forms in the
last three years.
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Canada To Enact Budget Tax Measures 10/1/2010 The Canadian Minister of Finance, Jim Flaherty announced on September 28 the
tabling in the House of Commons of a Notice of Ways and Means Motion to implement
key tax relief measures from Budget 2010.
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Jersey Foundations Attract Growing Interest 9/2/2010 Just over a year since they were launched, Jersey Foundation structures are continuing to receive a steady flow of interest, according to an offshore legal expert.
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Canada Consults On Tax Provisions 9/1/2010 The Canadian Department of Finance has commenced a consultation
on draft legislative proposals to implement tax measures from Budget 2010 along
with several previously announced tax initiatives.
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Blair’s Donation Highlights Gift Aid Benefits 8/19/2010 Tony Blair’s announcement to donate the GBP4.6m (USD7.2m) advance from his autobiography, A Journey, to the Royal British Legion has been met with mixed opinions.
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Guernsey Amends Charities Law 8/17/2010 The States of Guernsey has announced new legislative amendments that will
affect non profit organizations and charities registered in Guernsey
and neighbouring islands Alderney and Sark.
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UK To Cut Red Tape 8/6/2010 The UK Business Secretary, Vince Cable, on August 5 announced a comprehensive
package of measures to support the government’s drive to tackle unnecessary
government interference and red tape.
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Obamas Release Tax Returns 4/19/2010 President Barack Obama and the First Lady paid almost USD1.8m in
federal income tax for the 2009 tax year, according to details of their
joint tax return released by the White House.
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Canada Warns Illegal Tax Professionals 3/19/2010 With 'Fraud Prevention Month' well underway in Canada, Keith Ashfield, Minister of National Revenue sent out a warning to illegal tax preparers and
promoters who try to make money at the expense of Canadian taxpayers.
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UK Charities Seek To Stop 'Crippling' Music Charges 2/12/2010 Chief executives and senior managers from more than a dozen major UK charities have written to Business Secretary Lord Mandelson calling on him to reverse a decision to charge charities up to GBP20m (USD31m) more a year to play music before it becomes law this month.
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