TAX

Trump Reduces Tariffs on China Following “Successful” Meeting with Xi in South Korea

President Donald Trump hailed his meeting with Chinese President Xi Jinping in South Korea as a major breakthrough, announcing that he would cut tariffs on China while Beijing had agreed to resume exports of rare earth elements and purchase American soybeans. Speaking to reporters aboard Air Force One, Trump said the U.S. would lower tariffs imposed earlier this year as a penalty for China’s sale of chemicals used to produce fentanyl—from 20% to 10%. The move effectively redu

TAX

1 day ago4 min read

Trump Reduces Tariffs on China Following “Successful” Meeting with Xi in South Korea

President Donald Trump hailed his meeting with Chinese President Xi Jinping in South Korea as a major breakthrough, announcing that he would cut tariffs on China while Beijing had agreed to resume exports of rare earth elements and purchase American soybeans. Speaking to reporters aboard Air Force One, Trump said the U.S. would lower tariffs imposed earlier this year as a penalty for China’s sale of chemicals used to produce fentanyl—from 20% to 10%. The move effectively redu

UK Treasury Committee Told Dutch Example Not Reliable for Black Market Gambling Claims

The UK Parliament’s Treasury Committee heard on Tuesday that the Netherlands cannot be used as a credible case study to suggest gambling tax increases drive players toward the black market. Speaking before MPs, Carsten Jung, interim associate director for economic policy and AI at the Institute for Public Policy Research (IPPR), said that while raising taxes can generate substantial revenue, it is not a stand-alone solution to problem gambling. Jung appeared as part of the fi

Brazil Sees Historic Surge in Gambling Tax Revenue Following New Regulatory Framework

The Brazilian government recorded an impressive BRL6.8 billion in tax revenue from gambling and fixed-odds betting activities in 2025, according to recent data released by the Federal Revenue Service. The amount marks an unprecedented 17,000% increase compared to the BRL38 million collected in 2024, a result attributed to the formal integration of the sector into the country’s regulated tax system. In September alone, betting-related tax revenue totaled BRL1.7 billion, a rema

Brazil’s Haddad Defends Tax Plan on Bets, Banks and Billionaires as ‘Fair and Necessary’

Brazil’s Finance Minister Fernando Haddad has spoken out in defence of the government’s controversial proposal to raise taxes on bets, banks, and billionaires, calling the initiative a fair and essential measure to promote fiscal responsibility and social equity. Addressing critics of the plan, Haddad dismissed claims that the proposed tax increases are unjust. “The taxation of BBBs, billionaires, banks and bets, is only unfair in the minds of those who are uninformed,” he sa

Cyprus Tax Reform Bills Near Completion as Keravnos Confirms Possible Final Adjustments

Cyprus’ long-anticipated tax reform is entering its final stages, with the relevant legal bills expected to be completed within the next...

Brazil’s Joint Committee Approves Retroactive Gambling Tax While Scrapping 50% Tax Hike Proposal

A Brazilian congressional joint committee has approved a bill that imposes retroactive taxation on licensed betting operators, although a...

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