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Latest Tax News


IRS Urged To Clarify Tax-Exempt Donation Rule Intentions

As the United States Internal Revenue Service could still be considering proposed changes to its treatment of tax-exempt non-profit '501(c)(4)' organizations, ten Republican Senators have written a letter asking the agency to clarify its intentions.
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GM Mulls Factory Closure As Brazilian Tax Breaks Expire

Brazilian Finance Minister, Guido Mantega has confirmed the government has no plans to extend tax breaks introduced in May to support the automobile industry despite reports that General Motors is considering relocating one of its eight manufacturing plants out of Brazil, to benefit from more favourable tax terms in Argentina.
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US Lawmakers Look To Abolish Olympic Medal Taxes

After Americans for Tax Reform pointed out that American individuals winning medals at the Olympics would be liable for United States income tax, legislation was introduced in both the House of Representatives and the Senate to provide for their exemption.
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EC Consults On Tax Treatment Of Venture Capital

The European Commission has launched a public consultation regarding tax hindrances to cross-border venture capital investment within the European Union.
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South Korea, Vietnam Agree To Launch FTA Talks

As part of South Korea's policy to negotiate further higher-level trade treaties with other Association of Southeast Asian Nations countries to boost South Korean exports and investment in the region, it has been confirmed that South Korea and Vietnam have officially launched negotiations for a bilateral free trade agreement.
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