Dozens of states have a general sales tax. In Illinois, the tax covers consumer goods, but not services. That's a mistake, ...

In a fair tax system, everyone pays their fair share, no one pays more than they can afford, and the government raises enough ...

Lawmakers will consider a bill to increase the state excise tax and wipe out the state income tax for most residents.

The central bank has attributed this deviation to three primary factors: a more significant than anticipated increase in ...

President Donald Trump took to Truth Social Wednesday to argue that tariffs and lower interest rates go "hand in hand," suggesting that new trade barriers could prompt the Federal Reserve to ease ...

THE Bureau of Internal Revenue (BIR) last Jan. 16 issued Revenue Regulations (RR) 3-2025 implementing provisions of Republic Act (RA) 12023 that imposed a 12-percent value-added tax (VAT) on gross ...

Yes, this change will likely affect online shopping sites like Shein and Temu, which are popular among young U.S. shoppers ...

The Union Minister for Finance and Corporate Affairs Smt. Nirmala Sitharaman presented the Union Budget 2024-25 in Parliament, today i.e. February 02, 2025. Majorly the changes were earlier ...

The GST Council, led by Finance Minister Nirmala Sitharaman, plans to simplify and lower tax rates as the review nears ...

Indirect taxes are charged on goods and services, not on income or profits. These taxes are collected by businesses, such as ...

In recent months, tariffs have become a significant concern for businesses importing goods, particularly in relation to trade ...