Page 2 - Latest Updates on Corporation Tax
Biden backs down on corporate tax hikes, open to altering filibuster
When asked about voting rights, Biden expressed support for changing the Senate filibuster tradition, which requires 60 of 100 US senators to agree on most legislation
 "Biden backs down on corporate tax hikes, open to altering filibuster")
Advance tax collection up 52% in September quarter, shows CBDT data
Current mop-up 14.6% higher than the 2019-20 level of Rs 2.21 trillion
 "Advance tax collection up 52% in September quarter, shows CBDT data")
Sitharaman as FM: Some positive surprises, a few works in progress
Tax, revenue and macroeconomic trends are encouraging, but more needs to be done on privatisation, clean-up of banking mess, anti-protectionism, and de-politicisation of govt bodies, writes T N Ninan
Tax data shows how Covid-19 crushed small companies while big ones made hay
Listed firms paid Rs 35,000 cr more tax this year, even as corporate tax mop up fell by Rs 1 trn. Pvt ltd firms and the non-corporate sector paid Rs 1.35 trn less, which means their profits dived
 "Tax data shows how Covid-19 crushed small companies while big ones made hay")
Fuel price surge: What India can learn from Biden and Sunak's tax policies
When the times change, policy has to adapt. Why then is New Delhi so determined to not raise rates on under-taxed forms of income and wealth, questions T N Ninan
Yellen urges EU to back global tax deal, consider more fiscal support
A tax-cut race to the bottom must end, she said
 "Yellen urges EU to back global tax deal, consider more fiscal support")
G-20 finance chiefs back global tax deal and vow to clear hurdles
The landmark agreement aims to revamp rules that have allowed major companies to save billions by shifting profits to low tax jurisdictions
 "G-20 finance chiefs back global tax deal and vow to clear hurdles")
Best of BS Opinion: Related party risks, a new green wave of growth & more
Here are the best of Business Standard's opinion pieces for Wednesday
 "Best of BS Opinion: Related party risks, a new green wave of growth & more")
Shibboleths of the 'ideal' tax system
The time-hallowed principle of focusing on direct taxes is worth questioning
Best of BS Opinion: Gaps in tax reform, mapping recovery, and more
Here are the best of Business Standard's opinion pieces for Monday
 "Best of BS Opinion: Gaps in tax reform, mapping recovery, and more")
Gaps in tax reform
Details of new global agreement will need to be scrutinised
 "Gaps in tax reform")
India shifts international tax deal stand with an eye on revenue
India and other developing countries were fighting to include companies with at least Euro 1 billion in revenues as against the final proposal of Euro 20 billion revenues and a profit margin above 10%
 "India shifts international tax deal stand with an eye on revenue")
130 countries agree to Biden-backed 15% global minimum tax for companies
The deal calls for a global minimum tax of at least 15%, a key element pushed by Biden as he seeks to raise more revenue for his infrastructure and clean energy plans
 "130 countries agree to Biden-backed 15% global minimum tax for companies")
Yellen, Sitharaman discuss shared interest in 'robust' minimum tax
US Treasury Secretary Janet Yellen on Tuesday discussed a shared interest between the United States and India to implement a "robust" global minimum tax, the Treasury said
G7's Cornwall rendezvous
The group's relevance was tested again
 "G7's Cornwall rendezvous")
$150-billion prize in sight for global talks on minimum corporate tax
Alongside negotiations on a global minimum rate, the OECD is working on a system to divide up between governments the rights to tax multinationals
 "$150-billion prize in sight for global talks on minimum corporate tax")
Direct tax mop-up zooms 85% in spite of economic disruption due to Covid-19
Trend in contrast to moderation in GST collections last month
 "Direct tax mop-up zooms 85% in spite of economic disruption due to Covid-19")
Global tax, local complexities: What G7 corporate tax deal means for India
The recent G7 proposal of a global minimum tax has mixed implications for Indian corporations, foreign majors operating here and the tax authorities
 "Global tax, local complexities: What G7 corporate tax deal means for India")
World's richest people face tax squeeze after 40% rise in their fortunes
G-7's proposals part of global revival of initiatives to target the rich, from Buenos Aires to Stockholm to Washington.
 "World's richest people face tax squeeze after 40% rise in their fortunes")
Tax on multinationals: Much detail needs to be hammered out for G20
The countries aim to reach a consensus at the meeting on the details, as much technical work has already been done.
 "Tax on multinationals: Much detail needs to be hammered out for G20")
