Tax

South Korea Plans Major Tax Reform: Estate Tax System to Be Replaced with Inheritance Tax by 2028

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Sejong, South Korea – In a significant move to align its tax laws with more commonly adopted international standards, the South Korean government announced plans on Wednesday to overhaul its longstanding estate tax system in favor of an inheritance tax by the year 2028. This revision aims to reduce the financial burden on heirs, according to officials from the Ministry of Economy and Finance. The current estate tax in South Korea is applied to the net value of all assets left by a deceased person. Compared to this, the inheritance tax, as seen in most … Read more

DJ Tiësto Caught in $28 Million Tax Evasion Drama as His Attorney Faces Court Over Restitution Demands

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White Plains, NY — A high-stakes legal battle over millions in unpaid taxes saved through offshore tax shelters is underway, pitting U.S. federal prosecutors against a prominent Dutch tax attorney. The case revolves around renowned DJ Tiesto, who was reportedly saved $28 million by the elaborate schemes his tax lawyer orchestrated. The focus of the federal court arguments in White Plains is Frank Butselaar, a tax consultant who specialized in catering to Dutch celebrities and renowned for creating sophisticated tax avoidance structures. Court documents reveal that Butselaar set up a network of offshore entities that … Read more

Poker Pro Tom Goldstein Battles Legal Troubles Amid Allegations of Undisclosed Millions and Tax Evasion

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Washington, D.C. – Indicted attorney Tom Goldstein, known for his high-stakes poker games, is currently under federal investigation for allegedly failing to report millions in gambling income and cryptocurrency transactions. Goldstein, who has also made his mark as a prominent U.S. Supreme Court attorney and blogger, faces accusations of tax fraud among other charges. Prosecutors have recently presented documents in Maryland federal court, highlighting Goldstein’s continued gambling activities and his non-disclosure of significant income from these games. According to the filings, Goldstein failed to report $12 million in net gambling income in 2022 and an … Read more

Federal Court Upholds ATF Decision Against Twenty-Nine Palms Tribe in Cigarette Tax Dispute

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Riverside, Calif. – A federal court has upheld a decision by the Bureau of Alcohol, Tobacco, Firearms and Explosives (ATF) to block the Twenty-Nine Palms Band of Mission Indians from shipping untaxed cigarettes. U.S. District Judge Sunshine S. Sykes ruled against the tribe, stating there was no arbitrary or capricious action on the part of the ATF, which enforced the Prevent All Cigarette Trafficking Act. The tribe had been permitted by federal law to sell untaxed cigarettes to other Native American nations. However, complications arose when these cigarettes were subsequently sold to non-Native consumers without … Read more