(CNN) The National Rifle Association says in a tax filing that it became aware of a "significant diversion" of its assets in 2019 and previous years, and that its current president has paid back nearly $300,000 plus interest in funds for the expenses, according to the filings.
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NATA, NBAA Present to Treasury on Proposed Regulations Under Federal Excise Tax Exception for
The National Business Aviation Association (NBAA) joined with the National Air Transportation Association (NATA) to present comments on Nov. 19, 2020, to the U.S. Department of the Treasury regarding the Federal Excise Tax (FET) exception for aircraft management services under § 4261(e)(5). The presentation was by telephone conference rather than an in-person hearing due to the COVID-19 pandemic.
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Georgia Senator David Perdue Privately Pushed for a Tax Break for Rich Sports Teamowners —
Sen. David Perdue, R-Ga. , privately pushed Treasury Secretary Steve Mnuchin to give wealthy sports owners a lucrative tax break last year, according to a previously unreported letter obtained by ProPublica.
After the 2017 tax bill championed by President Donald Trump passed, Mnuchin and the Treasury had to write rules on how the legislation would work in practice.
Of the hundreds of pages of new regulations the agency developed, Perdue wrote about his concern with one extremely narrow rule: The owners of professional sports teams were being excluded from a valuable tax break being granted to many other businesses that are structured so that the companies don't pay taxes but the owners do.
Ukrainian tax rules for foreign-to-foreign transactions are finally set. Or not? - Lexology
Ukraine is undergoing the tax reform nowadays, which is quite inconsistent, unpredictable and sometimes may bring instability to the business environment. The legislator is introducing significant changes to the Tax Сode and in a few months after, adopts other laws that change the rules established before. There were three different editions of the Tax Сode provisions in respect of taxation of non-residents in Ukraine in 2020, the draft law No 4065 ("Draft") may introduce the fourth one.
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Before 01 July 2020 the Tax Code provided that non-resident's profit from the sale of shares in Ukrainian entity shall be taxed in Ukraine.
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Impact of MLI on Turkey-Netherlands Double Tax Treaty and Dutch Holding Structures
OECD tax director says international crypto tax standards are coming in 2021
According to Law360 , Amans stated that the crypto tax standard "would be roughly equivalent to the CRS" developed by the Organisation for Economic Co-operation and Development to combat tax evasion.
The director attributed the likely development of the crypto tax CRS to a desire to introduce stronger standards surrounding crypto regulations among its member-countries:
Amans' comments come days after the European Commission launched a process to amend and extend its tax evasion laws pertinent to crypto assets. The proposal was published on Nov. 23, with the EC set to receive public feedback on the initiative until Dec. 21. The new laws are expected to be introduced during the third quarter 2021.
Yellen Would Assume Vast Policy Portfolio as Treasury Secretary - The New York Times
WASHINGTON — Janet L. Yellen's expected nomination as Treasury secretary will place the former Federal Reserve chair into a critical role overseeing President-elect Joseph R. Biden Jr.'s economic and national security agenda at an agency that has increasingly become a center of power.
Here is what we know, so far, about Ms. Yellen's views in several areas where she will have a role to play.
Ms. Yellen's fiscal worries came before the coronavirus pandemic and the current downturn, a moment when most economists have encouraged the United States to not worry about the deficit and to spend as much as necessary to help households and businesses weather the slump.
From Thailand to Indonesia, taxes tighten for digital
SINGAPORE -- Governments across the Association of Southeast Asian Nations are moving to impose more taxes on digital companies, stirring unease among multinational internet businesses that have boomed amid the coronavirus pandemic.
From Thailand to Indonesia, new levies have kicked in or are being introduced. They threaten to chip away at the earnings of technology companies that are reaping benefits from the rise of digitalization among the region's 650 million people.
Happening on Twitter
The NRA says it's aware of 'significant diversion of its assets' in a tax filing. The form names eight current and… https://t.co/SgNc7uw8Ee joncoopertweets (from New York) Thu Nov 26 14:12:52 +0000 2020
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