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Educational Philanthropy Gets Ethical Update March 16, 2021 The standards, guidelines and definitions for reporting the results of educational philanthropy around the world have been updated with new guidance on gift counting, a new definition of educational philanthropy and for the first time, a statement on ethics. The Council for Advancement and Support of Education (CASE) released the CASE Global Reporting Standards. For the first time since its initial publication in 1982, the standards offer a digital subscription and six country-specific supplements. Previously referred to as the C...

Tax havens - a big challenge Experts estimate annual global revenue loss of $200b as result of abuse of tax havens Salaried class contributed Rs69.4 billion or 7.8% of the total income tax collection in the first half, which was higher by 20% when compared with the same period of last year. PHOTO: FILE ISLAMABAD: The Panama Papers, Luxembourg Leaks and Paradise Leaks clearly reveal how tax evasion and money laundering are being carried out on a massive scale through tax havens across the globe. The ill-gotten and tax-evaded money channeled/ laundered through tax havens has become a global is...

COVID-19 Developments - Tax exemptions for coronavirus antigen costs - Draft regulations providing for employee and employer national insurance...

To embed, copy and paste the code into your website or blog: On 30 December, the UK government laid regulations that will significantly reduce the type of cross-border arrangement that will need to be reported by UK intermediaries under the so-called DAC 6 rules on 31 January 2021 and in the future. In the last year or so, we have regularly written about DAC 6 in our Tax Talks blog and in our monthly UK Tax Round Up. As a reminder, DAC 6 is the wide ranging EU regime for reporting “cross-border tax arrangements” which requires certain “intermediaries” and taxpayers to report to HMRC a...

Israel Tax Authority targets cryptocurrency profits The Tax Authority is looking to boost the state coffers from players who have cashed in on the rise in Bitcoin prices. Dozens of Israelis who own digital currencies, particularly Bitcoin, recently received notification from the Israel Tax Authority, headed by Eran Yaacov, requiring them to fully disclose their assets and be taxed accordingly. "Globes" has learned that tax assessors across the country have begun putting pressure on the digital currency market and are inspecting this sector for tax collection. Among other things, digital walle...