South Korea's budget minister met with fiscal experts to discuss policy directions amid a surge in tax revenue, largely driven by the AI boom. The minister highlighted economic uncertainties and key challenges, while experts urged proactive investments in AI and semiconductor infrastructure.
A Meta Platforms data center in Richland Parish, Louisiana, has significantly boosted local tax revenues, enabling teacher bonuses of up to $50,935. This surge in funding, driven by increased sales tax collections and a direct payment from Meta, contrasts with opposition to data centers elsewhere in the US.
India's government is making strong progress on its non-tax revenue goals, with public asset monetisation reaching nearly 30% of last fiscal year's total in just two-and-a-half months. Disinvestment income is also close to FY26 levels, as efforts intensify to exceed the combined FY27 target of ₹80,000 crore.
Wes Streeting is preparing a Labour leadership bid focused on attracting global talent through a "global talent programme" and using North Sea oil and gas tax revenues to cut energy bills. He criticizes the US for deterring scientists and AI experts, vowing to welcome them to Britain.
Taiwan's tax revenue saw a significant surge in the first five months of 2026, driven by record stock market turnover and the AI boom. Securities transaction tax revenue alone jumped 167.42% year-on-year, reaching NT$248.7 billion.
France's tax revenue from alcohol and tobacco fell by 25% in the first quarter of 2026, totaling €3 billion compared to €4 billion in the same period last year. This significant drop, despite a 2% increase in other tax revenues, is attributed to a combination of factors including a calendar effect and a 6% decline in tobacco taxes and 10% in alcohol taxes.
French tax revenue from alcohol and tobacco fell by 25% in the first quarter of 2026, totaling €3 billion compared to €4 billion in Q1 2025. This significant drop, despite a 2% increase in other tax revenues, is attributed to a combination of calendar effects and declining consumption of tobacco and alcohol.
South Korea's managed fiscal balance showed a deficit of 36.6 trillion won as of end-April 2026, an improvement of 9.5 trillion won from the previous year, driven by robust tax revenue growth, particularly from corporate and income taxes.
Silicon Valley is experiencing an AI boom with massive compensation for tech talent, but beneath the surface lies anxiety about job automation and potential economic disparity. The article explores the global implications, with Europe, Africa, and Latin America lagging behind, while India and China face unique challenges in harnessing AI's potential and managing its societal impact.
India's government has sacrificed nearly Rs 14,000 crore in tax revenue by reducing excise duty on petrol and diesel to protect consumers from rising fuel prices due to the West Asia crisis. Oil companies continue to face daily losses of around Rs 600 crore.
Oregon voters are deciding on Measure 120, a referendum to repeal a recent gas tax increase. Amidst nationwide price surges, the measure faces challenges, with Republicans aiming to capitalize on affordability concerns.
South Korea's presidential office denies reviewing the distribution of 'public dividends' from excess tax revenues generated by the semiconductor industry's AI-driven boom.
Treasurer Jim Chalmers says the tax on offshore gas projects has raised more revenue than expected this year, as he prepares to hand down a budget focused on fixing a "broken" housing market and tax system.
Nvidia CEO Jensen Huang declared America a priority for advanced chip sales, stating China should not have access to the "latest and greatest" AI technology. However, he urged the US not to abandon the Chinese market entirely, arguing that global sales and increased tax revenues strengthen American economic and national security.
Nvidia CEO Jensen Huang declared America a priority for advanced chip sales, stating China should not have access to the "latest and greatest" AI technology. However, he urged the US not to abandon the Chinese market entirely, arguing that global sales and increased tax revenues strengthen American economic and national security.
Nvidia CEO Jensen Huang declared America a priority for advanced chip sales, stating China should not have access to the "latest and greatest" AI technology. However, he urged the US not to abandon the Chinese market entirely, arguing that global sales and increased tax revenues strengthen American economic and national security.
Hong Kong's tax revenue rose 22 per cent to HK$458.3 billion (US$58.5 billion) last year, driven by a buoyant stock market and increased property transactions. Stamp duty surged 61 per cent to HK$102.6 billion, profits tax rose 20 per cent to HK$212.6 billion, and salaries tax increased 10 per cent to HK$97.7 billion. The Commissioner of Inland Revenue attributed the growth to increased average daily turnover on Hong Kong Exchanges and Clearing and a strong pipeline of initial public offerings.
Hong Kong's tax revenue climbed 22% to HK$458.3 billion last year, fueled by a 61% jump in stamp duty from stock transactions and robust IPO activity, alongside growth in profits and salaries tax.
The extra tax revenue generated by the Iran war will be saved in its entirety, as the government downplays major cost-of-living relief in next week's federal budget.
Markets pose a threat to the horse racing industry, which depends heavily on gambling tax revenue.
The Hong Kong government has paused the roll-out of basketball betting via the Hong Kong Jockey Club after winning legislative backing. Meanwhile, US prediction markets during the 2024 presidential race handled billions in contracts. Critics raise concerns about markets allowing speculation on real-world conflicts including Gaza ceasefire outcomes and potential US military deployment to Iran, turning trajectories of conflicts with human consequences into instruments for financial gain.
South Korea's tax revenue rose 17 percent to 37.8 trillion won in March, up 5.5 trillion won from a year earlier, driven by increased income tax collections from higher bonuses and capital gains taxes from more housing transactions. Securities transaction tax revenue also climbed 800 billion won amid a KOSPI market boom.
UK public finances are under pressure from the Iran war, with experts predicting higher government borrowing due to increased energy prices and debt interest, despite a recent small drop in the annual deficit.
Hong Kong authorities have suspended plans to launch legal basketball betting, citing concerns that the move could inadvertently boost illegal prediction market gambling.
