Direct tax collections exceed revised estimates by ₹13,000 cr
The government received over ₹19.58 lakh crore through direct taxes in fiscal year 2023-24, exceeding both budget estimates and revised estimates.
Economy
India’s Direct Tax Collections Surge
India’s net direct tax mop-up surged by 17.7% year-on-year to Rs 19.58 crore in the fiscal year ended March 2024.
Direct tax collection increases by 17.7% to Rs 19.58 crore in FY24
India’s net direct tax collections increased by 17.7% year over year to Rs 19.58 crore in the fiscal year that ended in March 2024, surpassing revised projections and budget estimates.
UK fintechs ask government for help to ease capital shortages
Leaders of the UK’s financial technology industry are urging the British government to increase tax relief and help them raise more investment, as some executives warn a shortage of domestic investors is holding back the sector.
Annan Plan: 20 years since the momentous no
The majority Greek Cypriot population voted down the UN plan in the referendums held on April 24, 2004, with a turnout of 89.18% for Greek Cypriots and 87% for Turkish Cypriots.
Minnesota Legislature Weighs Corporations’ Role in State’s Economy
The Minnesota Legislature is considering several bills targeting corporations, including proposals to require large corporations to disclose their state income tax filings and to cap the number of single-family rental units a company can own. Rep. Esther Agbaje is pushing a bill that would cap the number of single-family homes one business entity can own, primarily corporations. Governor Tim Walz has stated that he is not interested in raising or cutting corporate taxes, but rather maintaining a proper balance. Minnesota has the highest corporate tax rate among the states, but the effective tax rate is lower due to deductions. Several bills are moving in the Legislature aimed at regulating corporations, including those related to single-family home ownership, tax transparency, hospital salaries, debt collection, corporate tax studies, health care acquisitions, and employee classification. Critics argue that the bills and underlying philosophy behind them are anti-business.
Nicosia protest demands end to second-class status for migrants
Fact: Hundreds of people took to the streets of Nicosia in a peaceful demonstration for equal rights covering all migrants living in Cyprus.
Industrial policy for economic security
The European Union will need to use industrial policy to ensure economic security for the next five years.
Cyprus leads in sustainable aquaculture, says commonwealth secretary-general
Cyprus is the champion country for Sustainable Aquaculture under the Commonwealth Blue Charter.
Cyprus Forum Cities highlights local governance and smart cities
House of Representatives President Annita Demetriou warned about forthcoming challenges in local governance during her address at the 2nd Cyprus Forum Cities event. Deputy Minister Nikodemos Damianou outlined the Cyprus government’s plans for smart city development, including the Smart Cyprus initiative. Deputy Minister Irene Piki emphasized the critical role of cities in improving citizens’ quality of life.