BankBazaar

FEBRUARY 3, 2023

Confused about the changes in income tax rules announced in the latest budget introduced in Parliament on 1 st February, 2023? If you’re still a little at sea about the changes in income tax rules announced by the Finance Minister recently, here’s everything you need to know at a glance. lakh is ₹52,500 in the new system.

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PYMNTS

NOVEMBER 25, 2019

Isaacson, a lawyer, Bowdoin College professor, senior partner at Brann & Isaacson and Data & Marketing Association tax counsel, argued Wayfair’s side in the precedent-setting Supreme Court case that has small businesses struggling. is the only country that has such a complex consumption tax system.” .

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PYMNTS

APRIL 10, 2019

One of the largest challenges for procurement chiefs today, according to Sovos VP of Strategy Christiaan Van Der Valk, is tax compliance, and it can easily trip up organizations as regulations become more complex — and as regulators’ strategies to ensure tax compliance become more sophisticated.

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PYMNTS

AUGUST 27, 2019

The Australian government is preparing a strategy to combat tax dodging among small businesses amounting to an estimated $11 billion in missing tax payments, News.com.au billion small business “tax gap” — the difference between income tax collected and what small businesses actually owed. reported Monday (Aug.

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Chris Skinner

NOVEMBER 13, 2018

For example, dealing with clients who require a Government Tax Residency Letter and multiple hurdles to be cleared before they can make payment; or dealing with American clients who want to pay me by cheque; or, worst of … The post Legacy vendors are more of an issue than legacy systems appeared first on Chris Skinner's blog.

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PYMNTS

NOVEMBER 15, 2018

million to a Virginia company to handle “large cash payments for processing cannabis federal taxes.”. billion in taxes last year on nearly $13 billion in revenue from legal cannabis companies. Most of these companies were forced to pay their federal taxes in cash because about 70 percent of all legal cannabis businesses are unbanked.

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PYMNTS

JANUARY 29, 2020

businesses are likely already feeling tax season’s pressures. Filing is exhausting and complicated for individuals, and businesses experience those tax difficulties to a far greater degree. SMBs And Manual Tax Frustrations. Spring may seem far away, but U.S.

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PYMNTS

DECEMBER 30, 2019

Wayfair Supreme Court decision continue to rattle online merchants, as three states (California, Louisiana and South Carolina) are now trying to collect eCommerce sales tax retroactively, as far back as five years. have moved to collect sales tax from remote sellers, and it’s just the beginning. To date 43 states and Washington, D.C.

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American Banker

JANUARY 10, 2024

The agency plans to restrict access to a system that provides borrower tax returns to mortgage lenders beginning June 30. Left out of the loop, small-business lenders say getting credit to borrowers will become more difficult as a result.

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PYMNTS

JANUARY 3, 2019

3) that it will pay a portion of its state business taxes in Ohio in bitcoin, becoming the first major U.S. company to pay state taxes in bitcoin. state to offer this way of paying for business taxes, noted Overstock in the press release. “We Overstock , the online retailer and blockchain company, announced Thursday (Jan.

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PYMNTS

MARCH 12, 2019

Treasury official said a French tax plan targeting American digital companies is discriminatory against American businesses. Treasury’s top international tax official, called the taxes “ill-conceived,” and said the better option was to go after tax reform internationally at the Organisation for Economic Co-operation and Development ( OECD ).

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PYMNTS

JULY 14, 2019

Even with the United States announcing it would look into a proposed “digital tax” in France, the country is moving forward with the measure. The country’s Senate has approved the tax despite the threat of an investigation from the United States, according to 9 to 5 Mac.

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Abrigo

MAY 10, 2021

Features of a Commercial LOS What basic functions should a loan origination system complete? Takeaway 1 Know the features and functions of a loan origination system (LOS) if your financial institution is shopping for one or upgrading. What should an LOS vendor provide? . You might also like this Aite Group report on LOS vendors.

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PYMNTS

OCTOBER 1, 2019

Key international negotiations surrounding Brexit stand to reshape global eCommerce, including the kinds and amounts of taxes that online marketplaces will face. 31 whether or not a deal is signed, however, leaving businesses to guess how they should prepare for any new tax compliance obligations that could be set in motion.

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TheGuardian

FEBRUARY 24, 2021

Report claims up to 10% of the world’s wealth could be hidden offshore and calls for global banking reform Billions of people around the world are being trapped in poverty by systemic tax abuses, corruption and money laundering, according to a UN commission report calling for a global crackdown.

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PYMNTS

OCTOBER 1, 2019

Japan has introduced a system of cash-back rewards points in response to increasing the consumption tax from 8 percent to 10 percent. The new system — which rebates the tax increase in some stores when paying with a card rather than cash — will run until June 2020.

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PYMNTS

SEPTEMBER 15, 2020

The world needs a FinTech operating system.”. And governments have an incentive to foster growth in debit payments because they want to collect tax revenue on cash transactions. The world doesn’t need another bank,” Poovala told Webster.

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PYMNTS

JANUARY 6, 2020

As 2020 dawns, regulators are continuing to focus on taxes and possible anti-competitive behavior on the part of tech’s marquee names. One continuing theme that will play out into the new year (and well beyond): taxes. The tax took effect at the beginning of this year. Russian regulators are seemingly taking aim at larger U.S.

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PYMNTS

JANUARY 10, 2019

After the holiday season comes tax season — everyone’s favorite time — but at least the payment of taxes, along with the tax refund process, promises to become even more digital this year. And digital payers are striving to win more business from tax filers this year. Rise of Quicker Payments. New Products.

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PYMNTS

APRIL 5, 2018

Filing taxes is hardly a walk in the park. Fortunately, online tax filing solutions have helped cut through the mounds of paperwork that go into preparation and filing — and consumers seem to be rejoicing. The average federal tax refund is $2,960 — $3,091 for direct deposit filers — as of March 2018.

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PYMNTS

AUGUST 12, 2020

Venezuela may be going forward with a plan to allow the use of the Petro (PTR) cryptocurrency to pay taxes, according to Cointelegraph. The system would be used to look into alleged illegal deals with digital assets and to locate crypto funding schemes that are involved in money laundering and terrorism, according to CoinDesk.

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PYMNTS

APRIL 10, 2020

TurboTax , the online tax preparation service, has said it is launching a free stimulus registration system to help people who don’t need to file a tax return. Approximately 10 million people in the country don’t have to file taxes, and roughly 80 percent can receive a stimulus check. .

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PYMNTS

NOVEMBER 14, 2018

As the saying goes, nothing in life is certain but death and taxes. To be certain of taxes, will blockchain seal the deal? Last week, Thailand’s Revenue Department was reported to be bringing blockchain projects into the fold to track tax payments, aided by machine learning.

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PYMNTS

JUNE 27, 2018

A new tax introduced as part of broader reform in the U.S. The BEAT Tax, short for the Base Erosion and Anti-Abuse Tax, is designed to prevent businesses from moving their U.S. The publication noted that businesses are increasingly exploring new strategies to avoid the tax. “We profits to other countries.

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TheGuardian

JUNE 1, 2021

EU forecast to reap extra €50bn per year with UK expected to gain €200m from BP alone A proposal to be tabled by the US president, Joe Biden, at the upcoming G7 meeting for a 15% global corporate tax rate could reap the EU €50bn (£43bn) a year, and earn the UK nearly €200m extra alone from the British multinational BP, according to research.

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PYMNTS

NOVEMBER 14, 2019

New Jersey’s Department of Labor and Workforce Development claims that Uber owes the state around $650 million in unemployment and disability insurance taxes because it has been wrongly classifying its drivers as independent contractors.

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PYMNTS

NOVEMBER 18, 2018

A “link tax” might mean the end of Google News in the EU. Richard Gingras, the search engine’s vice-president of news, said while “it’s not desirable to shut down services” the company isn’t happy with Brussels’ current proposal to charge a link tax for using news stories. In July, Google was hit with a $5.1

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PYMNTS

AUGUST 24, 2018

Electronic payments company ACI Worldwide is integrating its technologies with SPAN Enterprises , a tax filing technology provider, to power tax payments for the fleet industry. A press release issued Thursday (Aug. ” Other payment service providers have targeted the fleet industry in recent months, too.

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PYMNTS

AUGUST 29, 2019

Reuters is reporting that the tax agency said it was going to appeal the decision. It’s also considering taking legal action against hackers who got into the system, in an attempt to make them responsible for the fine. The National Revenue Agency (NRA) in Bulgaria was fined 5.1 million levs ($2.9

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PYMNTS

APRIL 17, 2018

While Americans rush to file their taxes this Tax Day, some computer systems at the Internal Revenue Service (IRS) are “experiencing technical difficulties.” As a result, the agency said it is having trouble taking in returns from tax preparers, The Wall Street Journal reported.

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PYMNTS

JANUARY 16, 2020

“In order for there to be mass adoption, the path forward is a regulated, compliant exchange system that clients have become accustomed to in traditional finance.”. The tax is called a retention tax, which is an income tax paid to the government by the income payer and not its recipient. 16) by Cointelegraph. .

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BankBazaar

JUNE 25, 2020

Bucket 4: Tax-Saving Investments. This one consists of your tax-saving investments. Although this category can be subsumed in one of the first two, it should be thought of as a separate category since it helps you save taxes which in itself is equivalent to earning. Explore BankBazaar.

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PYMNTS

JANUARY 4, 2017

Tax reform in the U.K. Government authorities are set to publish proposals that would require SMEs to submit quarterly tax returns online, reports said Tuesday (Jan. It’s an initiative, dubbed Making Tax Digital, the U.K. It’s an initiative, dubbed Making Tax Digital, the U.K.

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PYMNTS

APRIL 14, 2018

Tax Day for Americans is here, or at least it will be on Tuesday, April 17. This year is a bit of an unusual year as far as taxes are concerned, since April 15 actually falls on a Sunday. Back then, taxes weren’t due on April 15. Tax season used to be a month and a half shorter.

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PYMNTS

SEPTEMBER 28, 2020

Canadian Lawmakers Want Big Tech to Pay for Content, Taxes . EU Renews Demand for Back Taxes on Apple’s Ireland Ops. billion back-tax bill in Ireland. Margrethe Vestager, executive vice president of the European Commission for a Europe Fit for the Digital Age , last week appealed that ruling and wants the tax bill paid.

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PYMNTS

APRIL 4, 2018

In their place has risen a new system of exchanging funds that have made payments faster, more efficient, more secure and, above all, smarter. Each edition of the Tracker will highlight the innovations and players that are raising the payment bar to develop more intelligent payment systems and processes. About the Tracker .

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PYMNTS

SEPTEMBER 5, 2016

After some years of fighting any and all attempts on taxation, digital merchants seem to have made their peace with paying taxes and are starting to fall into line around the Online Sales Simplification Act of 2016. The letter of support requests Congress to “bring certainty and rationality” to the online tax situation.

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