parliament

Nirmala Sitharaman says burden on middle class narrative ‘not based on facts’; clarifies real estate taxes

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Nirmala Sitharaman says burden on middle class narrative ‘not based on facts’; clarifies real estate taxes

Indian Finance Minister Nirmala Sitharaman on Wednesday (August 7) said “we heard the people” as she confirmed revised real estate indexation rules in the Parliament. With the relaxed rules, taxpayers will get more flexibility in calculating their long-term capital gains tax.”The amendment gives taxpayers a choice to calculate and see what works better for them. The current amendment … Read more

Luxembourg introduces tax relief package for corporates and individuals | JD Supra

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Luxembourg introduces tax relief package for corporates and individuals | JD Supra

ON THIS PAGE 1. Corporate Income Tax (CIT) reduction 2. ETF UCITS 3. Complete overhaul of the tax regime for highly skilled and qualified impatriate workers 4. Profit-participating bonus (prime participative) 5. A new Young Employee Bonus 6. Personal income tax reductions 7. Family wealth management company (SPF or Société de gestion de Patrimoine Familial)Contact … Read more

Turkey plans to raise taxes to shore up revenue and ‘create fairer system’ | The National

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Turkey plans to raise taxes to shore up revenue and 'create fairer system' | The National

Turkey is planning major tax changes as part of an economic reform proposal that aims to shore up government revenue, reduce inflation and “create a fairer system”.The parliament, controlled by a coalition led by President Recep Tayyip Erdogan’s Justice and Development Party (AKP), will vote next week on a package of major new fiscal laws, … Read more

How middle class pays more taxes than corporates, and gets ignored too

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How middle class pays more taxes than corporates, and gets ignored too

Read Full Budget 2024 CoverageThe middle class, the tax-paying population of India, stares at the face of the government every time the Budget day approaches. It is that neglected segment that pays both income tax for earnings, and GST for spending. It is this 2% of the entire population of India that is contributing massively … Read more

Income Tax Slabs Budget 2024: No Income Tax up to ₹3 Lakh under revised personal income tax rate – Full Details | Mint

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Income Tax Slabs Budget 2024: No Income Tax up to ₹3 Lakh under revised personal income tax rate – Full Details | Mint

Budget 2024: Tabling the Union Budget 2024-25 in Parliament, Union Finance and Corporate Affairs Minister Nirmala Sitharaman announced significant changes in personal income tax rates for the fiscal year 2024-25 to reduce the tax outgo of the masses. The Finance Minister has provided relief to taxpayers by revising the income tax slabs for the current fiscal … Read more

Tax cuts worth €500 million unveiled for 2025

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Tax cuts worth €500 million unveiled for 2025

Finance Minister Gilles Roth has unveiled details of a package of tax cuts that will cost the state around €500 million a year from 2025, including reductions to personal and corporate taxes, tax credits for single parents and financial incentives for expats.The government has approved plans to adjust tax brackets by 2.5 indexations or 6.4% … Read more

Türkiye’s new corporate tax law to increase company taxes by over $1,500 – Türkiye Today

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Türkiye's new corporate tax law to increase company taxes by over $1,500 - Türkiye Today

The ruling AK Party has introduced a new bill to Parliament that proposes changes to the domestic minimum corporate tax. Under the new law, a company with a ₺1 million ($30,211.57) profit will pay an additional ₺50,000 in taxes. Current law: A company with a ₺1 million profit and an ₺800,000 capital gains exemption currently … Read more

Russia increases income taxes for the wealthy to help fund Ukraine offensive

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Russia increases income taxes for the wealthy to help fund Ukraine offensive

Russian President Vladimir Putin on Friday signed a bill that raises income taxes for the rich, part of efforts to help fill government coffers depleted by the war in Ukraine. The tax hikes were being presented domestically as “systemic reforms”.  Issued on: 12/07/2024 – 18:12 2 min Advertising Read more Russian President Vladimir Putin on … Read more

France must keep bond markets on side or face Truss-style meltdown

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France must keep bond markets on side or face Truss-style meltdown

French politicians need to listen to bond markets – and keep them on side – or face a potentially catastrophic ‘Liz Truss scenario’, the CEO of a leading independent financial advisory and fintech has warned. The stark warning from Nigel Green of deVere Group comes as the political chaos in France is driving the gap between French … Read more

Furniture imports hit Sh8.7bn, defying steep President Ruto taxes

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Furniture imports hit Sh8.7bn, defying steep President Ruto taxes

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