Our Scans · (FS.6.04) Individual Tax Liabilities · Weekly Summary

• [New] Thailand's cabinet has approved tax measures that will exempt personal income tax on capital gains from digital asset sales through SEC-regulated platforms. Crypto Briefing
• The average UK household can expect an increase in bills in everything from water charges to council tax from today, as 2025 looks set to be difficult year for personal finances. The Independent
• Alternative options, such as increasing company tax, implementing a wealth tax, or raising personal income tax in higher income brackets might be less expedient but are more attuned to address South Africa's budget constraints without violating constitutional governance dictates. Institute For Economic Justice
• Federal stimulus coupled with the Quebec government's increases to the basic personal amount exempt from income tax and family allowance payments will provide support in 2025. BDC.ca
• Indian taxpayers should expect higher tax collections, especially from direct taxes such as personal income taxes, as India becomes richer and the Indian government becomes more efficient in collecting taxes. Compass by Rau's IAS
• India plans to cut personal income tax rates to boost middle-class spending power and seeks to increase private investment to strengthen growth. ThePrint
• Similar shares of families reported major work disruptions due to child care problems in other states with no personal income tax: 12% in Texas and 13.3% in Florida, for example. The Century Foundation
• DTA's are a less permanent solution, meaning that a person working abroad can apply for the DTA and may be fully exempt from paying taxes in South Africa on their foreign income and will not have to reverse any formal process if they do return to South Africa. Mike Coady
• 2022 saw the federal government reinstate and increase the federal solar investment tax credit (ITC), meaning many homeowners can claim 30% of the cost of home solar on their personal income tax when filing for 2024. LeafScore
• Together with the General Assembly's move to eliminate the corporate income tax by 2030 - a policy passed in the 2021-2023 budget - the personal income tax cuts in the 2023-2025 budget will severely reduce the revenue available to meet North Carolina's needs. NC Budget & Tax Center
• Transitional provisions mean that for 1 year only, persons who were eligible for the remittance basis but will not be eligible for the new 4-year regime will only be subject to UK tax on 50% of their foreign income (but not foreign capital gains). Mishcon de Reya LLP
• By cutting tax rates or abolishing personal income tax and replacing it with a consumption tax, India could increase the disposable income and spending power of its middle class, while also simplifying the tax system and reducing evasion. Drishti IAS
• Thailand's revenue departments has released new guidelines which will see all income from abroad taxed as personal income tax regardless of whether it was earned income or savings. Thai Enquirer
• Entities with corporate partners will be able to reduce the base amount relative to the distributive shares allocated to partners who are not subject to Connecticut's personal income tax under Chapter 229. CBIA
• The UK's tax office has warned of a new set of scams designed to trick customers claiming tax credits into handing over their personal and financial information. Infosecurity Magazine
• Personal income tax revenue grew 12% to NT $36.9 billion and could increase further this month, when Taiwanese file income taxes for last year's salary and interest income, cash dividends and other compensation.
• The UAE finance ministry has clarified residency rules for implementation of corporate tax: non-resident persons will be liable to pay tax when they either have a permanent establishment in the Emirates or derive state-sourced income. Nasser Saidi & Associates
• In 2023, for the first time since 2020, Florida personal income is expected to grow faster than the taxes paid by Floridians to all levels of government. Florida TaxWatch
• Hitherto operating via a company has created the opportunity to draw income as dividends, free of NICs, and shelter profits at a corporation tax rate that is below the basic rate of income tax - rather than personal tax rates on earnings of up to 45% (47% in Scotland from 2023/24). Raymond James Investment Services
• Proposals to cut the personal income tax in North Carolina will further line the pockets of the already well off. NC Budget & Tax Center

Last updated: 24 June 2025