The Indian government’s PAN 2.0 project, approved with a budget of ₹1,435 crore, promises a streamlined and efficient PAN card system. This initiative will centralize PAN data, reduce costs for fintech companies, and eliminate issues like duplicate PAN cards.
The United States is facing a critical national debt crisis, with the interest payments on our accumulated debt exceeding the annual budget for defense. This alarming trend is a direct result of excessive spending and a growing deficit, raising serious questions about our ability to fund essential programs and maintain national security. This article explores the factors contributing to the debt crisis, examines the misleading narratives surrounding taxation, and highlights the urgent need for responsible fiscal policies to address this critical issue.
The ALTA Aviation Law Americas conference in Buenos Aires saw experts highlight the need for a streamlined and harmonized tax system in Latin America to foster growth and competitiveness within the aviation industry. Concerns over the impact of current tax policies, specifically the UN Tax Committee’s proposal to shift to an origin-based system, were raised, emphasizing the potential for double taxation and increased costs for airlines and passengers. The conference underscored the importance of balancing tax collection with supporting aviation sector growth and urged collaboration among governments, airlines, and international organizations to create a more efficient and integrated fiscal framework.
The world’s richest 1% are responsible for as much carbon emissions as the poorest two-thirds of humanity. This disparity is fueling calls for climate policies targeting the super-rich, including billionaire taxes. New research reveals that the public often underestimates the carbon footprints of the wealthy, potentially impacting their support for policies aimed at reducing emissions. This article explores the vast differences in emissions between the rich and the poor, highlighting the urgency of addressing this issue through taxation and lifestyle changes.
The GST Council will meet today, September 9, to discuss crucial issues including the taxation of insurance premiums, rate rationalization, and a status report on online gaming revenues. Key topics include potential GST reductions on health and life insurance premiums, a review of the ongoing crackdown on fake GST registrations, and the effectiveness of the 28% GST levied on online gaming platforms.
Balaji Srinivasan, a prominent Silicon Valley investor, has echoed El Salvador President Nayib Bukele’s claim that the U.S. government’s finances are not based on taxation but rather on the Federal Reserve’s money printing. This statement comes amid a controversial debate on taxation policies in the U.S.
The Supreme Court has ruled that states can levy taxes on mineral rights, but clarified that the tax should not be applied retroactively before April 1, 2005. The court also allowed for a staggered payment plan for tax arrears over 12 years starting April 1, 2026, and waived interest and penalties for the period before July 25, 2024.
The Indian government has reversed its decision to eliminate indexation benefits on real estate, giving taxpayers the option to calculate capital gains tax with or without indexation. This move provides relief to those who purchased property before July 23, 2024.
The G20 nations have reached an agreement to work together to ensure the ultra-wealthy pay their fair share of taxes. This agreement, reached at a meeting of finance ministers in Rio de Janeiro, falls short of a full-fledged global deal but marks a significant step towards addressing wealth inequality. While the US and Germany oppose a global tax on billionaires, countries like France, Spain, and South Africa support the initiative. This agreement comes amid growing concerns about wealth disparity and the need for robust fiscal buffers to address global challenges like climate change.
Auma Obama, half-sister of former U.S. President Barack Obama, was tear-gassed by Kenyan police during protests against a new tax bill. The protests turned violent with police firing on demonstrators, resulting in at least five deaths, dozens injured, and parts of the parliament building set ablaze.
