Despite repeated warnings about the potential once-off nature of corporation tax receipts and the concentration risk of having so few firms paying the bulk of the money, Ireland continues to hit the business tax jackpot.Revenue from the tax swelled to a record €23.8 billion last year, almost six times the amount garnered in 2014. It … Read more
ByHT News Desk Aug 04, 2024 07:56 PM IST Share Via Copy Link Corporate taxes formed a large bulk of the defaults, adding up to ₹3.97 lakh crore and capital gains tax and transfer pricing defaults was ₹4.81 lakh crore. Tax defaults in India have skyrocketed by 1000% in the last ten years and litigation … Read more
Finance Minister Nirmala Sitharaman will unveil the Union Budget for the financial year 2024-25 at 11 a.m. on Tuesday. This critical document will outline the government’s revenue and expenditure plans, influencing economic growth and stability across the nation. Understanding the budget’s implications for individuals and businesses alike is essential for informed financial decision-making.Also Read | … Read more
Budget 2024: Union Finance Minister Nirmala Sitharaman on Tuesday said 58 per cent tax came from simplified corporate tax regime in the financial year 2024.More than two-thirds of individuals availed the new income tax regime, Sitharaman said in the Lok Sabha while presenting the Union Budget for fiscal year 2024-25.She also announced that the government … Read more
Building on the strong show seen in financial year 2023-24, Net Direct Taxes collections have surged 19.54 per cent to ₹ 5.74-lakh crore till July 11 this fiscal, official data released by CBDT showed.In the same period (upto July 11) last fiscal, the net direct tax collections stood at ₹4.80-lakh crore.The latest reading of ₹5.74 … Read more
India’s net direct tax collection recorded a significant growth of 19.54 per cent in FY25, amounting to Rs 5.74 lakh crore as of July 11, according to the data released by the income tax department on Friday.The net direct tax collection stood at Rs 4.80 lakh crore in FY24 during the same period, marking a … Read more
ByHT News Desk | Edited by Abhyjith K. Ashokan Jul 09, 2024 03:12 PM IST Share Via Copy Link The Union Budget 2024 sees a lot of expectations for both direct and indirect tax rate cuts to boost consumption in the economy. What are direct taxes? Direct taxes are taxes that are levied by the … Read more
Expenditure on furniture ordered from foreign countries by Kenyan traders and households has continued to grow by double-digit rates despite increased taxation and government directives requiring agencies to cut imports. About Sh8.69 billion was spent on furniture, beddings, mattresses, and furnishes in the nine months through March 2024 following the application of 45 percent import … Read more
The Kenya Revenue Authority (KRA) missed its target for the full year ended June by Sh267 billion, hurt by reduced corporate profits and job cuts in a period when businesses were devastated by the depreciation of the shilling and high energy prices. The taxman collected Sh2.22 trillion in ordinary revenue, an increase of 9.5 percent … Read more
Do you know that personal income tax collections in India are higher than corporate tax collections? Yes, you heard it right! Individuals like you (reader) and me together pay more taxes than all the corporations put together. How can a lower-middle-income country such as India with a per capita income of around $2,500 rely on … Read more