Ghana lawmakers let their fists fly Monday (Dec. 20) during a parliamentary debate on a proposed electronic payments tax that has become a lightning rod since the discussion began several weeks ago, according to a Reuters report. The 1.75% electronic levy, which would include taxes...
Finance firm Credit Karma is integrating with TurboTax to make filing tax returns easier and getting refunds faster, according to a Monday (Dec. 20) press release. Both companies are owned by Intuit. The new tax experience aims to reduce the stress of tax preparation for...
U.K.-based crypto exchanges will now have to pay a new digital service tax after an update to the regulations for Her Majesty’s Revenue and Customs (HMRC), a report from Finbold says. The tax was debuted in April as a method of getting big tech companies...
Most cryptocurrency transactions and exchanges will be subject to taxation in Argentina after the government clarified and updated new rules limiting tax exemptions to third-party payment service providers, according to multiple reports. Argentina will levy a 0.6% tax on exchanges for cryptocurrency purchases and sales....
For consumers who use services like PayPal, Venmo or Square to conduct business, next year’s tax season could be a lot more complicated. As CNN reported on Wednesday (Nov. 10), these payment app providers will need to start reporting customers’ business transactions — that is,...
The controversial proposal by the Biden administration to grant the IRS the power to track bank accounts with more than $600 in annual transactions is now being revisited, following pushback by Republicans and banking lobbyists who called the move an invasion of privacy by the...
Kristo Käärmann, CEO and co-founder of money transfer firm Wise, may face sanctions in the U.K. for a tax violation that could see him banned from the industry. As the Financial Times reported Friday (Oct. 1), Käärmann could be labeled a “deliberate tax defaulter” after...
It’s often said that “nothing is certain but death and taxes” – but that quip could also include changes in tax laws, as the revisions in local, state and federal jurisdictions seem never-ending. As commerce crosses time zones and currencies, and as consumers send all...
Treasury Secretary Janet Yellen and IRS commissioner Charles Rettig have been pressuring lawmakers to give the IRS more information on taxpayers’ bank accounts. The Wall Street Journal (WSJ) reports that the Biden administration is trying to save the tax compliance proposal it put forward. The...