Germany's Chancellor Friedrich Merz's coalition government announced a reform package including tax relief for low-income families, pension system changes, and measures to boost competitiveness. While economists largely welcome the reforms, critics cite concerns about fairness and ambition.
Andy Haldane, president of the British Chambers of Commerce, proposes linking over £50bn in pension tax relief to investments in UK businesses. This aims to address a funding gap for small- and medium-sized enterprises and introduce a "home bias" in retirement savings.
A Mumbai tenant received tax relief after the Income Tax Appellate Tribunal ruled that the fair market value of surrendered tenancy rights should be the cost of acquisition for a property sold for Rs 38.62 lakh, significantly reducing his capital gains tax liability.
Gwanak District in Seoul is providing tax relief measures, including extending payment deadlines for local taxes, to support businesses and small merchants struggling with rising international oil prices. The district will extend the deadline for individual local income tax payments from June 1 to August 31 for eligible recipients.
President Trump's proposed gas tax holiday to alleviate cost-of-living concerns is facing opposition not only from Democrats but also from Republican-leaning trucking and construction industries, which rely on federal gas and diesel taxes for infrastructure funding.
President Donald Trump floated a federal gas tax suspension. If enacted, here's how that could impact consumers.
President Donald Trump floated a federal gas tax suspension. If enacted, here's how that could impact consumers.
