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The Latest Breaking News from Tax Exemption

Nonprofit hospitals save more in tax exemptions than they provide in charity care: KFF

Nonprofit hospitals reaped almost $28B in tax exemptions from federal, state and local sources in 2020 while providing about $16B in charity care, a new KFF brief found.

Axios

Missouri would be only state in country that taxes food but not guns under GOP bill

JEFFERSON CITY, Mo. — Missouri would be the only state in the country that taxes food but does not tax gun sales under a bill being considered by the Missouri Senate.

Tribune News Service

Brazil markets tumble on Lula's first full day in office

Brazilian markets delivered a withering verdict on leftist President Luiz Inacio Lula da Silva's first full day in office on Monday, after he pledged to prioritize social issues and ordered a budget-busting extension to a fuel tax exemption.

Reuters

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Gift Tax Exclusion 2026: How Much You Can Give Tax‑Free This Year

Knowing the annual gift tax exemption can save you time and money.

Kiplinger

Union Budget 2023: Increase tax exemption limit for senior citizens, says Assocham

NEW DELHI: Industry body Assocham recommended increasing minimum tax exemption limit for senior citizens, that is, people from age 60 to 80 years of age.

The Times of India

Cricket bodies run on business lines, not for education: Supreme Court

NEW DELHI: Holding that cricket associations are run on business lines, the Supreme Court said that the activities of sports bodies, including the Board of Control for Cricket in India (BCCI), cannot fall within the meaning of ‘education’ to claim tax exemption as they spend insignificant amounts of money on…

The Times of India

BCCI could lose Rs 955 crore if ICC doesn't get tax exemption for hosting 2023 World Cup

NEW DELHI: The BCCI could lose around Rs 955 crore (USD 116 million) if the central government sticks to its decision to levy 21.84 percent tax surcharge on ICC's broadcast revenue from the 2023 ODI World Cup, according to a Board report.

The Times of India

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Dr. Oz spent years, millions improving his Palm Beach mansion. Now he’ll get a tax break

Two weeks before he would become one of the year’s most famous and polarizing Republican nominees for office, Mehmet Oz was approved for a large tax exemption on a house he owns in a community close to his heart.

McClatchy Washington Bureau

Indigenous people pay taxes: Demythologizing the Indian Act tax exemption

There is a common misconception among Canadians that Indigenous people do not pay any taxes. It perpetuates harmful stereotypes and hinders non-Indigenous Canadians from reconciling with the truths of Canada’s colonial history and present.

The Conversation

Stop talking here and there, answer why you ruined country's economy for friends: Sisodia to PM Modi

Delhi Deputy CM Manish Sisodia alleged the Centre has written off loans worth ₹10 lakh crore and gave ₹5 lakh crore tax exemption to Mr. Modi’s “friends”.

The Hindu

Why Labor's new tax cut on electric vehicles won't help you buy one anytime soon

The Albanese government has introduced tax cuts to electric vehicles in its first sitting week, claiming the proposed changes would be “good for motorists, good for climate action and good for fleet purchases”. They won’t, however, help most Australians afford one.

The Conversation

Haj group organisers, private tour operators cannot claim service tax exemption, says SC

The judgment came on petitions filed by HGOs and private tour operators challenging the levy of service tax on the service regarding the Haj pilgrimage

The Hindu

The wisdom of crowds

Sinwattana Crowdfunding Corporation sees long-term growth potential for the local crowdfunding market in future decades, expecting a 10-year capital gains tax exemption for investments in Thai startups under 12 target industries to motivate entrepreneurs and investors.

Bangkok Post

Property tax exemptions amendment to appear on Arizona ballot

On June 22, 2022, the Arizona State Legislature voted to place a constitutional amendment regarding property taxes on the ballot in November.

Ballotpedia

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Bangkok Post

Tax exemption for foreign actors approved

The cabinet on Tuesday approved a tax exemption for foreign actors of movies filmed in Thailand for a period of five years as an incentive for international producers to shoot their films in the kingdom, deputy government spokesperson Rachada Dhnadirek said.

Ballotpedia

Georgia voters to decide timber equipment tax exemption on Nov. 8

Georgia voters will decide whether to exempt timber equipment from property taxes on Nov. 8

Ballotpedia

Colorado voters to decide property tax exemption for surviving spouses of military and certain veterans in November

Colorado voters will decide on Nov. 8 whether to extend a primary residence property tax exemption to the surviving spouses of military personnel who died in the line of duty and the surviving spouses of certain veterans who died from a service-related injury or disease.

Ballotpedia

Texans approve property tax amendments; Austin voters decriminalize marijuana

Texans approved two statewide constitutional amendments reducing the property tax limit for school taxes on homesteads of the elderly and disabled and increasing the property tax exemption from $25,000 to $40,000 for all households.

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Kiplinger

17 States With Scary Estate and Inheritance Taxes

Over a dozen states currently impose estate or inheritance taxes on heirs. Here’s where you’ll have to pay.

The Economic Times

Realtors heave sigh of relief over 2-yr tax exemption on notional rent on unsold homes

Developers and consultants feel that this budget proposal would benefit developers of major 7-8 cities, particularly those from the national capital region (NCR) and Mumbai Metropolitan Region (MMR) where unsold units are maximum.

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