Owners of large industries in Tanzania seek government protection against cheap imports
Some owners of large industries in Tanzania have asked the government to protect them against cheap imports by increasing import taxes.
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Who are Israel’s main weapons suppliers and who has halted exports?
The United States suspended a shipment of heavy, bunker-busting bombs to Israel amid concerns about their impact in dense urban settings like Rafah. Germany increased defense export approvals for Israel after an attack by Hamas, but has since approved fewer exports due to international criticism. Italy halted new export approvals to Israel since the start of the Gaza war, with the last orders delivered in November. Britain grants export licenses for defense equipment to Israel, while Canada stopped licensing arms exports to Israel to ensure compliance with humanitarian law. The Netherlands halted shipments of parts for F-35 jets to Israel due to concerns about violations of humanitarian law.
Trump lawyer questions Stormy Daniels, ’ account of sex with Trump
Donald Trump’s lawyer sought to undermine Stormy Daniels’ credibility as a witness in the first criminal trial of a sitting or former U.S. president by showing inconsistencies in her various tellings of a 2006 sexual encounter she had with Trump.
Agios Sylas fire under control, but authorities on alert due to strong winds
Firefighters have managed to control a wildfire that broke out in the Agios Sylas industrial area of Limassol, burning through approximately six square kilometers of land. Strong winds forecasted for the following day could still pose a challenge to their efforts. The threat of rekindling remains high, and firefighting forces are working through the night to secure the area. Additional resources have been mobilized, and an investigation into the cause of the fire is underway.
Rising Share of Personal Income Tax and Indirect Tax
– The collection of personal income tax and indirect taxes has increased, while collections from corporate taxes have reduced.
– India’s net direct tax collections grew 17.7% in 2023-24 to hit Rs.19.58 lakh crores.
– The share of corporate taxes contribution to overall tax collection dipped to 46.5% from 49.6% in 2022-23.
– Indirect taxes, including union excise duties and the Goods and Services Tax, have increased from 2010-11 onwards.
– The majority of individuals filing personal income tax have an annual income ranging from Rs 1 lakh to Rs. 5 lakh.
– India has among the highest effective personal income tax rates among BRICS economies.
– Rising share of personal income tax and indirect taxes can lead to income inequality, consumer burden, economic inefficiency, tax evasion, and macroeconomic instability.
President reaffirms support for construction sector
President Nikos Christodoulides stated that the construction sector, supported by the Cyprus Property Developers Association (LBDA), plays a vital role in attracting investments, promoting entrepreneurship, and positioning Cyprus as an investment destination.
Olympic flame arrives in Marseille amid tight security
The Olympic flame reached Marseille, just outside the Old Port, 79 days before the Paris 2024 Games Opening Ceremony.
Inheritance Tax Will Lead To Economic Chaos In India: Economist Gautam Sen
– Economist Gautam Sen believes that the notion of an inheritance tax is unrealistic and labeled Congress leader Rahul Gandhi’s suggestion of a “wealth survey” as impractical.
– Sen expressed concerns that conducting surveys of all households and businesses for wealth redistribution would result in economic turmoil.
– Around 2.4 per cent of people pay taxes in India, of which not more than 1.2 million have personal assets.
– Sen mentioned that the very rich individuals in India may migrate to Dubai to avoid taxes if wealth redistribution measures are implemented.
– Sweden removed its inheritance tax and saw an increase in wealth, economic growth, and tax collection.
– Sen believes that the current combination of wealth creation and redistribution in India is working well.
– Congress leader Sam Pitroda had advocated for exploring inheritance laws in India, drawing parallels with the United States where there is no inheritance tax, but rather estate duty and gift tax paid by a small percentage of deceased individuals.
(Our) time is running out
Church leaders are encouraged to speak out about the Cyprus issue and other topics, with their thoughts shared on CyBC. Archbishop George emphasizes the long history of Greeks in Cyprus and the passing on of traditions to future generations. The author, though not religious, appreciates the Archbishop’s message of hope and reunion in the afterlife. Archbishop George also stresses the importance of not resting until the Cyprus issue is resolved, as time is running out for everyone. The author questions the Archbishop’s belief that everything ends with the current generation, urging him to consider the perspectives of past leaders and future generations.
Limassol man arrested for money extortion
Fact: A 52-year-old resident of Limassol was arrested by the police for extorting money from an 83-year-old resident of a village in the Limassol district on 23 separate occasions under false pretenses. The 83-year-old gave a total of €12,830 to the suspect.