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

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

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

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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