Page 3 - Corporation Tax

Best of BS Opinion: Seal a tax deal, the road ahead for SBI, and more

Here are the best of Business Standard's opinion pieces for Monday

G-7 nears deal for at least 15% global minimum corporation tax: Report

The ministers are meeting Friday and Saturday in London and are due to release a statement after the discussions.

Govt's worry on corporation tax revenue front may worsen in coming years

Concern over a falling share of corporation tax revenue may get worse

A rising tide of old ideas: How world economics has changed in 4 decades

Higher tax rates, central banks pumping out cash, protection for home industry, suppressing interest rates, high social welfare pay-outs - all hark back to pre-Thatcher-Reagan phase - notes T N Ninan

Global minimum tax may impact India's special rate on manufacturing firms

US proposal to raise the global corporate tax rate to 28% from 21% might face resistance from countries unwilling to give up their edge and compete with America on its terms

Corporation tax: Biden says open to compromise on infra, but not inaction

President Joe Biden drew a red line on his $2.3 trillion infrastructure plan Wednesday, saying he is open to compromise on how to pay for the package but inaction is unacceptable

Biden says no evidence higher corporation taxes will drive companies abroad

President Joe Biden defended his proposal to raise corporate taxes to help pay for his infrastructure spending plans

Ray of hope: In a surprise, personal tax mop-up rises 2.5% in FY21

6% fall in corporation tax due to Covid-related issues

In US, dozens of big and profitable companies pay no federal taxes

A provision in the 2017 tax bill allowed businesses to immediately write off the cost of any new equipment and machinery.

UK to hike corporation tax to 25% from 19% from 2023, says FM Sunak

Sunak said small businesses with profits of less than 50,000 pounds a year would be charged only 19%

UK's Rishi Sunak to raise business tax to pay for Covid-19 support

Allies of Sunak clarified he would not increase corporation tax higher than 23 per cent

AAR in new avatar: Old wine or efficient machinery for disposal of cases?

Experts say while the backlog of cases will most likely be reduced, the quality of rulings may not inspire taxpayers

Personal I-T revenue now equals all other direct taxes: That's a problem

Until the 1950s taxes on output contributed more to government revenue than those on incomes of people and businesses. But since then the balance has gradually been reversed

Four key reasons why the AAR is losing its relevance in direct taxes

Set up in 1993 to provide clarity to MNCs about taxability of certain transactions, and later to domestic companies for deals above Rs 100 cr, it has become dysfunctional due to vacancies at the top

Covid-19 impact: Direct tax refunds down 16% to Rs 64,428 crore in Q1

Corporation tax refunds stood at Rs 40,482 crore, while income tax refunds stood at Rs 23,828 crore in Q1FY21.

India's tax-GDP ratio plunges to 9.88% in FY20, lowest in 10 years

While the ratio determines the extent to which the government is able to finance its expenditure, it is also an indicator of tax compliance

Will consider corporation tax rate benefit extension: FM Sitharaman

Says GST rate reduction to go to Council; Council is likely to meet on Friday through video conferencing.

Covid-19 crisis threatens to wipe out gains from corporation tax cut

The tax cut in September last year had resulted in a 10% increase in the post-tax profits of index companies

Advance corporation tax collection falls over 10% in Apr-Mar FY20

Total direct tax collections fell over 5 per cent, standing at Rs 9.57 trillion, till March 18 against the revised target of Rs 11.7 trillion for the current fiscal

Facing tax and divestment shortfall, govt puts faith in Vivaad se Vishwas

The scheme is the sixth tax amnesty launched by Modi-govt; none of its predecessors has yielded anything close to Rs 9 trillion, the amount the govt hopes to mop up this time