Global Tax

India on Tuesday scrapped the export tax on parboiled rice, the government said in an official order, as inventories in the world's biggest exporter of the grain surged and the country is set to produce a bumper crop after copious monsoon rains.

Motorists using private vehicles with a functional global navigation satellite system (GNSS) will be allowed to travel toll-free on highways and expressways up to 20 kilometres daily with effect from Tuesday, according to a government notification.

Prime Minister Narendra Modi on Friday said the government is taking various measures at the policy level to promote the fintech sector, which attracted over USD 31 billion in investments in the last 10 years, and the abolition of the Angel Tax is al

An internal committee of the Income Tax Department will review the 1961 direct tax law to eliminate redundant clauses as well as adopt best global practices to simplify it for taxpayers for better compliance, CBDT chief Ravi Agrawal has said.

IMF officials have raised concerns about the crypto sector's carbon emissions and are considering whether a tax increase on crypto mining could help reduce its carbon footprint. In a blog post, the officials suggested that an 85 percent tax hike on power usage by crypto miners could potentially cut the sector's annual emissions by an estimated 100 ...

The central government is not considering any relaxation over the 320 billion rupees ($4 billion) tax demand it sent to Infosys, according to a government source.

Former presidents and prime ministers have sent an open letter to current leaders of the world's 20 largest economies urging support for a global tax on billionaires, which they called a rare political opportunity.

The US and India have extended their standstill agreement till June 30, over the former's retaliation over India’s digital-services tax on big tech firms. The development was announced by the US ahead of a deadline for a global deal that will reallocate taxing rights for major US tech firms that provide digital services like Alphabet-owned Google...

The government has cut taxes - as much as 85 per cent - on the import of a certain number of EVs, or electric vehicles, as part of a new scheme to "attract investments by reputed global manufacturers".

In a bid to strengthen its position as a global smartphone manufacturing hub, India has reduced import duty on key components used in mobile phone production.

Billionaires should face a minimum tax rate, a new report suggested after it found that some of the world's mega-wealthy people are paying little to no tax.

The Indian government has mandated offshore online gaming companies operating in the country to register the business locally or appoint a representative to pay tax on funds collected from customers. The move to tax online gaming companies has shocked the nascent $1.5 billion (nearly Rs. 12,430 crore) industry, which is backed by global investors.

The discount on Russian crude oil is not as much now as it used to be in the initial period after the Ukraine conflict began, Oil Minister Hardeep Puri said on Friday.

Tiger Global, Peak XV and Steadview Capital are among 30 foreign and domestic investors asking Indian Prime Minister Narendra Modi to review a 28 percent gaming tax, saying the levy would adversely impact $4 billion (roughly Rs. 32,800 crore) in prospective investments, a letter showed.

G20 finance ministers on Tuesday discussed strategies to implement strategies for overhauling the global tax norms to ensure that multinational companies pay taxes wherever they operate.

India on Tuesday scrapped the export tax on parboiled rice, the government said in an official order, as inventories in the world's biggest exporter of the grain surged and the country is set to produce a bumper crop after copious monsoon rains.

Motorists using private vehicles with a functional global navigation satellite system (GNSS) will be allowed to travel toll-free on highways and expressways up to 20 kilometres daily with effect from Tuesday, according to a government notification.

Prime Minister Narendra Modi on Friday said the government is taking various measures at the policy level to promote the fintech sector, which attracted over USD 31 billion in investments in the last 10 years, and the abolition of the Angel Tax is al

An internal committee of the Income Tax Department will review the 1961 direct tax law to eliminate redundant clauses as well as adopt best global practices to simplify it for taxpayers for better compliance, CBDT chief Ravi Agrawal has said.

IMF officials have raised concerns about the crypto sector's carbon emissions and are considering whether a tax increase on crypto mining could help reduce its carbon footprint. In a blog post, the officials suggested that an 85 percent tax hike on power usage by crypto miners could potentially cut the sector's annual emissions by an estimated 100 ...

The central government is not considering any relaxation over the 320 billion rupees ($4 billion) tax demand it sent to Infosys, according to a government source.

Former presidents and prime ministers have sent an open letter to current leaders of the world's 20 largest economies urging support for a global tax on billionaires, which they called a rare political opportunity.

The US and India have extended their standstill agreement till June 30, over the former's retaliation over India’s digital-services tax on big tech firms. The development was announced by the US ahead of a deadline for a global deal that will reallocate taxing rights for major US tech firms that provide digital services like Alphabet-owned Google...

The government has cut taxes - as much as 85 per cent - on the import of a certain number of EVs, or electric vehicles, as part of a new scheme to "attract investments by reputed global manufacturers".

In a bid to strengthen its position as a global smartphone manufacturing hub, India has reduced import duty on key components used in mobile phone production.

Billionaires should face a minimum tax rate, a new report suggested after it found that some of the world's mega-wealthy people are paying little to no tax.

The Indian government has mandated offshore online gaming companies operating in the country to register the business locally or appoint a representative to pay tax on funds collected from customers. The move to tax online gaming companies has shocked the nascent $1.5 billion (nearly Rs. 12,430 crore) industry, which is backed by global investors.

The discount on Russian crude oil is not as much now as it used to be in the initial period after the Ukraine conflict began, Oil Minister Hardeep Puri said on Friday.

Tiger Global, Peak XV and Steadview Capital are among 30 foreign and domestic investors asking Indian Prime Minister Narendra Modi to review a 28 percent gaming tax, saying the levy would adversely impact $4 billion (roughly Rs. 32,800 crore) in prospective investments, a letter showed.

G20 finance ministers on Tuesday discussed strategies to implement strategies for overhauling the global tax norms to ensure that multinational companies pay taxes wherever they operate.