gift tax News

US IRS Extends COVID-19 Relief To Gift Taxes
by Mike Godfrey, Tax-News.com Washington
Wednesday, April 15, 2020
On March 27, 2020, the United States Treasury Department and the Internal Revenue Service issued a notice which extends COVID-19-related filing and payment relief to federal gift and generation-skipping taxes. Read Full Story

Korea Enacts 2019 Tax Revision Bill
by Mary Swire, Tax-News.com, Hong Kong
Wednesday, January 15, 2020
The Korean Government has announced that the 2019 Tax Revision Bill was enacted on January 6, 2020, with a number of new measures added to the existing proposals. Read Full Story

IRS Issues Estate Tax Regulations
by Mike Godfrey, Tax-News.com Washington
Monday, December 2, 2019
On November 22, 2019, the United States Internal Revenue Service issued final regulations confirming that individuals taking advantage of the increased gift and estate tax exclusion amounts in effect from 2018 to 2025 will not be adversely impacted after 2025 when the exclusion amount is scheduled to drop to pre-2018 levels. Read Full Story

OECD Urges International Tax Reform Of Savings, Investments
by Ulrika Lomas, Tax-News.com, Brussels
Friday, April 13, 2018
"While countries do not necessarily need to tax savings more, there is a lot of room to improve the way countries tax savings," according to Pascal Saint-Amans, Director of the OECD Centre for Tax Policy and Administration. Read Full Story

US Senate Presents A Different Take On Tax Reform
by Mike Godfrey, Tax-News.com, Washington
Monday, November 13, 2017
The Senate Finance Committee released its tax reform plan on November 9, presenting a draft bill with marked differences to that agreed by the House Ways and Means Committee on the same day. Read Full Story

Finnish Tax Revenue Growth Slowed In 2016
by Ulrika Lomas, Tax-News.com, Brussels
Thursday, July 20, 2017
The Finnish statistics agency has reported on tax revenue growth in the territory in 2016. Read Full Story

OECD Pushes Tax Reform To Address Wealth Disparity
by Ulrika Lomas, Tax-News.com, Brussels
Thursday, June 8, 2017
The OECD has called on governments to make changes to their tax regimes to support poverty-reduction. Read Full Story

US Tax Reform Proposals Announced
by Mike Godfrey, Tax-News.com, Washington
Thursday, April 27, 2017
The US Government has announced its plans for tax reform, including a 15 percent territorial basis corporate tax system, a reduction in income tax for individuals, the repeal of the Alternative Minimum Tax and the Estate Tax, and a one-time tax on repatriated profits. Read Full Story

Malta Reduces Tax On Intergeneration Family Business Transfers
by Amanda Banks, Tax-News.com, London
Thursday, April 27, 2017
Malta has announced a reduction in transfer duties on family businesses passed from one generation to another through an act of donation. Read Full Story

Italy Introduces Non-Dom Tax Incentive
by Ulrika Lomas, Tax-News.com, Brussels
Friday, March 10, 2017
In a bid to attract wealthy individuals to relocate to the country, and high net worth Italian expats to return there, the Italian authorities have introduced a EUR100,000 (USD106,251) per year substitute tax on foreign income and gains for previous non-doms who declare Italy as their primary tax residence. Read Full Story
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