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"Tax" tag

India to launch Goods and Services Tax (GST)

India is getting ready for its most ambitious tax reform in decades but not everyone is happy about the changes. The Goods and Services Tax (GST) is intended to draw millions of firms into the...

To tax, or not to tax severance payments

Mr. X was employed with a leading global manufacturing company Global Inc, in their Indian subsidiary, Global India. Due to global restructuring, Global Inc decided to close its operations in India, resulting in the termination...

gift-tax-income-tax-act-marketexpress-in

Gift Tax: When receiving a gift becomes taxing…

‘ What is bought is cheaper than a gift ’, goes a Portuguese proverb. In the realm of Indian taxation, nothing could be further from the truth; for under the Income Tax Act, 1961 (“IT...

Equalisation-Levy-Indian-tax-marketexpress-in

Equalisation Levy seeks to cast Indian tax net wider

Budget 2016 introduced a new tax called Equalisation Levy (“EL”), aimed at taxing online transactions. EL was originally mooted by the OECD in Base Erosion and Profit Shifting (BEPS) Project Final Report on Action 1...

DTAA-India-Mauritius-tax-treaty-marketexpress-in

DTAA : India-Mauritius tax treaty amended

Mauritius has long been the favoured route for investment into India, because of the beneficial capital gains tax treatment offered under the India-Mauritius Double Tax Avoidance Agreement (“DTAA”). In a far-reaching change that will perhaps...

capital-structure-shareholders-marketexpress-in

Emphasis on Capital Structure is Vital in Delivering Value to the Stakeholders

When a capital structure is altered – whether in a tax or no tax condition – it does impact the value creation for the shareholders of its firm. This is in contrary to the classic...

Low tax collections in India

Low tax collections and India’s economic problems

India’s low tax collections woes and the importance of Indirect taxes on India’s economic problems. Global data compendium CIA World Fact-book puts India’s tax collection at 9.3% of GDP, higher than only Nigeria, Syria, Sudan...

Sunken barges to plug dike in Germany’s flood zone

Authorities in Germany’s flooded Elbe river basin plan to plug a broken dike by sinking two barges in the gap. Federal and regional governments are arguing over how to finance 8 billion euros in flood...

The corporate tax tricks of ‘Big Business’

Global companies, like Apple, have a plethora of possibilities to avoid paying taxes. Mostly, they use loopholes created by lawmakers. Now, these tax dodging schemes are coming under scrutiny. The Senate governmental affairs subcommittee in...

Agricultural Income Tax

In India, power to tax agricultural income lies with the state governments. For a variety of reasons the state governments have been reluctant to introduce a full-fledged agricultural income tax, thus introducing a basic inequality...

Taxing the super-rich in India –avoid unintended consequence

In 2012, Joseph Stiglitz, the 2001 Nobel Laureate, one of the world’s foremost thinkers in contemporary economics, author of the 2012 best-seller titled “The Price of Inequality” was quoted in the New York Times as...

Germany, France launch new finance tax drive

Germany and France have made a fresh appeal to the European Union executive to pave the ground for a tax on financial transactions. They hope it can be introduced in at least nine of the...