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The Latest Breaking News from Income Tax

Billionaires had an extra $1 trillion to influence the midterm elections. Save American democracy by taxing extreme wealth

Billionaire spending in the 2022 midterm elections was up 44% compared to 2018–but a minimum income tax on billionaires is gaining support in Congress.

Fortune

Scottish Government considering income tax rate rises for middle and top earners

EXCLUSIVE: It is understood tax rates could rise in the Scottish Budget in order to address funding challenges

Daily Record

Low-Tax States for 'Middle-Class' Families in 2026

Here are the best states for families with middle incomes (due to low tax burdens).

Kiplinger

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Kentucky’s income tax will go down in 2023. Who does it help?

WEKU

Scottish Government 'could raise half a billion pounds' by taxing the wealthy

The research, published on the eve of the Scottish Government's Budget, was carried out by the IPPR Scotland think tank

Daily Record

Texas lawmakers have a $27 billion surplus, but a spending cap complicates their goal of lowering property taxes

Texas homeowners have some of the highest property tax bills in the nation, a byproduct of the state’s reliance on such taxes to help pay for public schools and the state’s lack of an income tax.

The Texas Tribune

‘Bereft of merit’: Delhi court dismisses income tax complaint against Newslaundry

Calling the charges “bereft of merit”, a Delhi court has dismissed a complaint by the income tax department against Newslaundry, its CEO Abhinandan Sekhri, and others.

Newslaundry

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One-stop centre to spur FDI in the offing

The government is establishing a new one-stop service centre to stimulate foreign direct investment and outlays on international headquarters and regional offices.

Bangkok Post

Budget should focus on job creation, steps to broaden tax base: India Inc to finance minister

NEW DELHI: The budget should focus on measures to accelerate job creation and broaden the tax base by rationalising GST and personal income tax slabs to boost consumption, industry bodies said in their pre-Budget meeting with finance minister Nirmala Sitharaman on Monday.

The Times of India

Emily Sheffield: A bad hand played well still leaves Jeremy Hunt with a mountain to climb

Make no mistake, the contents of this financial statement are hitting the ‘just about managing’ middle classes devastatingly hard. No jam in sight anywhere for the JAMs… By freezing the basic and higher rate income tax thresholds until 2028, the Treasury hopes to raise £6 billion, as this stealth tax…

Evening Standard

Spain is looking to launch a new visa for 'digital nomads' next year

Spain's digital nomad visa will offer remote workers a big income tax rate cut and the chance to stay in the country for years, so long as their employer is based elsewhere

Daily Mirror

Editorial: California’s eternal poverty problem demands more than government checks

Fewer people were in poverty in California in 2021 than in 2019. That’s the good news. The bad news is that this was due only to government relief payments, not to an improving economy or more job opportunities.

The Orange County Register

How the autumn statement will impact households, from single mums to married pensioners

Freezing of thresholds means those receiving a wage rise will pay more tax, while benefits increase by the rate of inflation

The Guardian - UK

Thousands of taxpayers to see £1,200 disappear from bank accounts

Chancellor Jeremy Hunt has confirmed some income tax bands are being moved

Liverpool Echo

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AAP

Tax bracket creep could repair budget

Tax bracket creep can reduce government debt but comes at the expense of tax efficiency and fairness, the Parliamentary Budget Office says.

Manchester Evening News

The 'stealth' tax hikes announced in Jeremy Hunt's budget and how they affect you

The chancellor had warned that everyone would be paying more tax from next year - here's how his tax hikes will affect you and your wallet

Daily Mirror

Autumn Budget: What it means for your money - from energy bills to pensions and wages

Jeremy Hunt has delivered his Autumn Statement in the House of Commons today, with changes to Income Tax, National Insurance and increases to benefits like Universal Credit

The Guardian - UK

What Jeremy Hunt’s autumn statement means for you

From income tax changes to help with the cost of living crisis, all you need to know about the chancellor’s changes

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The Independent UK

Autumn Budget 2022: All the key points from Jeremy Hunt’s statement

Chancellor sets out plan to ‘rebuild our economy’

Liverpool Echo

Millions to pay more tax after Jeremy Hunt Autumn Statement

Jeremy Hunt announced the government's financial policies

Daily Mirror

Jeremy Hunt clobbers ALL Brits with barrage of tax rises and cuts as UK in recession

Jeremy Hunt has announced tens of billions of pounds of cuts and stealth tax rises in the Autumn budget statement - from council tax and income tax to energy bills, minimum wage and the state pension and benefits

Daily Mirror

Jeremy Hunt extends freeze on Income Tax thresholds - meaning millions will pay more

Income Tax and National Insurance thresholds are set at £12,570. This threshold has already been frozen for four years to April 2026, but this will now be stretched to April 2028

The Guardian - UK

What is ‘fiscal drag’ and how has Hunt used it in his autumn statement?

Stealth tactic pulls more taxpayers into higher brackets by freezing thresholds despite higher cost of living

Daily Mirror

Everything you need to do NOW to protect your money ahead of Autumn Statement

The Autumn Statement is set to confirm about £21billion of tax rises and £33billion of public spending cuts a year by 2027/28, to try and fill the £54billion black hole

The Times of India

IT raids on prominent business family of Kashmir

LUDHIANA: In major action against tax evasion in Kashmir Valley, Investigation wing of the Income Tax Department on Wednesday conducted raid on businesses belonging to a prominent family of Srinagar.

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