Tag: tax policy
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David Lammy’s Tax Grab on Law Firms Sparks Debate
Background: What Lammy Proposed In a move that has stirred considerable controversy, Labour MP David Lammy unveiled plans that would allow the Ministry of Justice to claim a substantial share of certain funds held by law firms. The proposal centers on taxing interest earned on housing deposits and money left in wills, with a reported…
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Voter Voices: How Americans Assess Trump’s Economy After Year One
Introduction: A year into the Trump economy promise As Donald Trump reassumes the presidency with a central campaign message focused on economic revival, a key question looms: how do voters evaluate the state of the economy after year one? Our survey, conducted across diverse regions, ages, and occupations, probes voters’ views on growth, job prospects,…
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Tax reforms to boost investor confidence: FFCCCII backs BIR audit reforms
FFCCCII backs reforms to BIR audits to shore up investor confidence The Federation of Filipino-Chinese Chambers of Commerce and Industry Inc. (FFCCCII) has voiced strong support for reforms in the Bureau of Internal Revenue’s (BIR) audit processes. The move, officials say, is aimed at enhancing transparency, consistency, and predictability—key elements that can boost investor confidence…
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Kenyan Manufacturers Struggle as High Taxes, Input Costs and Power Widen Profit Gap
Rising costs squeeze Kenyan manufacturers Kenyan manufacturers are grappling with persistently high production costs that erode profitability and threaten the sector’s growth prospects, according to a new study by the Kenya Institute for Public Policy Research and Analysis (KIPPRA). The report highlights a triple burden of high taxes, expensive inputs, and unreliable power supply as…
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Worries as Nigeria Introduces 7.5% VAT on Mobile Bank Transfers and USSD
Overview: What the 7.5% VAT Means for Banking Services Nigerians could start paying a 7.5% Value Added Tax on selected banking services from January 19, 2026. The move targets activities such as mobile bank transfers and USSD-based payments, which many users rely on for day-to-day transactions. While VAT is a common fiscal tool used by…
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Nigeria Faces VAT Hurdle: 7.5% on Mobile Bank Transfers and USSD Sparks Outcry
Overview: What Changes With the 7.5% VAT Implementation Starting January 19, 2026, Nigerians are set to pay a 7.5% Value Added Tax (VAT) on a range of banking services, including mobile bank transfers and USSD-based transactions. The government argues that these digital financial services fall under taxable activities, while critics warn of potential double taxation…
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Tax-free car dream dashed: Langkawi voters feel the sting as luxury cars rise
Introduction: A Luxury Dream Repriced Langkawi’s status as a duty-free haven for luxury goods has long drawn the world’s wealth to its shores. Among the most coveted items were high-end cars: Ferraris, Lamborghinis, and Porsches that once carried a price tag around RM2.5 million due to tax exemptions. A recent government move to abolish these…
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Indonesia Moves to Simplify Excises to Cut Illicit Tobacco
Overview: A Bold Step in Indonesia’s Tax Policy Indonesia is poised to introduce a new layer to its cigarette excise tax in 2026, with a mission to curb illicit tobacco and draw illicit producers into the formal market. Finance Minister Purbaya Yudhi Sadewa outlined that the proposal is still under discussion, but the intent is…
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Scottish Budget 2026: Live Updates as Shona Robison Unveils Spending and Tax Plans
Live Updates: Scotland’s Budget 2026 Unveiled Finance Secretary Shona Robison has laid out Scotland’s budget for 2026, outlining how the government intends to fund essential services, infrastructure, and growth. The announcements include a substantial capital investment programme, potential tax adjustments, and a series of measures aimed at stimulating the economy while protecting public services. Here…
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Scottish Budget 2026: Live updates as Shona Robison unveils spending and tax plans
Live updates: Scotland’s Budget 2026 kickoff Finance Secretary Shona Robison has outlined Scotland’s budget for 2026, signaling a focus on capital investment, economic resilience, and targeted tax measures. The central thread of the day is a commitment to broad-based growth through a capital program that will underpin long-term projects across transport, infrastructure, and public services.…