Silver plummeted to near $29.00 in Friday’s American trading. The white metal faces an intense sell-off as the outcome of China’s third plenum meeting had less stimulus measures to address economic challenges and was more focusing more on “high-quality development”. The world’s second-largest economy struggles to maintain the economic growth momentum due to poor demand … Read more
Tax rates for publicly-listed companies may remain unchanged in the upcoming fiscal year, with some changes in parlance that could affect the availing of lower tax rates. The base rate may see a rise for publicly listed companies, but compliance with cashless transactions could bring it back down to existing rates. Listed companies with free float up to 10% and above with cashless transactions would have tax rates of 20% and 22.5%. Noncompliance with the cashless transaction limit would result in higher tax rates. The government may also impose capital-gain taxes on individual investors for the first time if profits exceed Tk 4.0 million. The tax gap between listed and non-listed companies may be reduced by cutting corporate tax rates for non-listed companies by 2.5%. Capital-market experts believe that higher taxes and reducing the tax gap between listed and non-listed companies could discourage companies from entering the capital market. The government should focus on simplifying investment procedures rather than increasing taxes on the capital market.
Since 2022, the huge deposits held by banks at the ECB have been earning millions in interest.
The government may reduce the corporate tax rate in fiscal 2024-25 to encourage compliance and boost collection, with the National Board of Revenue likely proposing a 2.5 percentage point reduction for both listed and non-listed companies.
The government may reduce the corporate tax rate in fiscal 2024-25 to encourage compliance and boost collection, with the National Board of Revenue likely proposing a 2.5 percentage point reduction for both listed and non-listed companies.
Direct tax revenue is growing at a healthy rate, with net direct tax collection at ₹18.9-lakh crore, a 20% increase compared to the previous year. Personal income tax is driving this growth, with a 23% increase, while corporate tax collections have only grown by 12%. The tax base is not increasing at the same rate as tax collections, with the number of individuals filing tax returns growing at a slower pace. Since FY21, revenue from personal income tax has been higher than that from corporate tax.