The tax rises are a sign of the difficulties that many Gulf governments face in trying to deal with large mismatches between spending and revenue while also trying to diversify their economies away from a heavy reliance on oil and gas revenues.
It will though add further complexity to the regional tax landscape and suggests taxation could provide fertile ground for competition between the Gulf states in the future.
Tame Your Taxes: IRS tax scams vs. powerful strategies
Each year, the IRS produces a list of "Dirty Dozen Tax Scams" to warn the public of the worst ways taxpayers are being scammed or how they cheat on their taxes. This year, most new scams related to COVID laws.
However, the last five of 12 scams on the list include four tax savings strategies I have recommended for years. I think it is hypocritical for the IRS to expect us to respect and obey the tax code when they often disregard effective tax deductions that are part of the code.
How the wealthy are preparing for higher taxes
To pay for a historic and sweeping expansion of the social safety net, President Joe Biden and Democrats are planning to slap wealthy Americans with higher taxes.
In response, financial advisors and their well-off clients are also scheming. Specifically, they're looking at moves they can take now to avoid some of those steeper levies later.
Peru PM warns gas sector: pay higher taxes or face nationalization | Reuters
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Peru's Prime Minister Guido Bellido speaks during an interview with Reuters in Lima, Peru, August 7, 2021. REUTERS/Angela Ponce
LIMA, Sept 26 (Reuters) - Peruvian Prime Minister Guido Bellido on Sunday said that companies which exploit natural gas in Peru will need to agree to pay higher taxes or else face nationalizations, a sharp warning to the sector from the new leftist government.
Subscribe to read | Financial Times
UK opposition hints at wealth taxes on shareholders and landlords | Reuters
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Labour politician Rachel Reeves speaks during a People's Vote press conference at the National Institute of Economic and Social Research in London, Britain May 9, 2019. REUTERS/Henry Nicholls/File Photo
BRIGHTON, England, Sept 26 (Reuters) - Britain's opposition Labour Party hinted on Sunday at new taxes on wealth, identifying landlords and shareholders as possible targets if it won power at the next election.
Ask Us: Minnesota taxes weave tangled web for snowbirds | Local News | mankatofreepress.com
$200 million reasons for high property taxes | Columnists | helenair.com
The growth of property taxes is no doubt a huge concern to many across the state, with good reason. As the main revenue source for local governments, property taxes serve as a painful representation of the ever-expanding footprint of government in our communities.
Pay up for influence: Egypt taxes YouTubers, bloggers | Daily Sabah
The tax authority said "YouTubers and bloggers" earning over 500,000 pounds ($32,000) annually would be taxed, in a statement issued Saturday.
Egypt, the Arab world's most populous country with over a 100 million people, has reached a 60% internet penetration rate, according to official figures.
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