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Karnataka Plans Tax Waivers for Hybrid Cars, Incentives for EVs
Karnataka plans to cut levies and offer financial incentives to companies in the clean mobility sector, including a steep tax cut for hybrid cars. The move could make the state, home to the tech hub of Bengaluru, the second after northern Uttar Pradesh to provide tax breaks to hybrid cars, for which Toyota has lobbied New Delhi.
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Fire Breaks Out At Income Tax Building In Delhi, 7 People Rescued
A fire broke out inside the Income Tax CR Building in ITO area on Tuesday, officials of the Delhi Fire Services said.
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Apple Set to Face Over $500 Million Fine After EU Finds It Broke Rules to Silence Spotify, Other Rivals
Apple will face a European Union fine close to EUR 500 million ($539 million or roughly Rs. 4,475 crore) over the regulator’s investigation into allegations it silenced music-streaming rivals, including Spotify Technology SA, on its platforms.
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Samsung's Quarterly Profit Could Hit Six-Year Low as Consumers Cut Spending, Analysts Say
Samsung's quarterly profit is expected to fall 58 percent amid the ongoing global economic downturn, to its lowest point in six years, according to analysts. The prediction comes amid reduced spending by consumers and businesses during a period of high inflation and escalating interest rates. Samsung is expected to announce preliminary results on F...
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South Korea Proposes Stronger Incentives, Bigger Tax Breaks to Boost Critical Chip Sector
South Korea plans to introduce bigger tax breaks for chip manufacturers in the country, a month after a law allowing for new incentives was passed. The country has been caught between the US and China in an escalating fight over critical semiconductors, which are used in a wide range of electronic devices from smartphones to missiles.
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UK PM Rishi Sunak Revokes Tax Payments for Foreign Crypto Buyers: Details
UK, stepping into 2023 will exempt foreigners who are using local British crypto exchanges for buying cryptocurrencies from paying taxes. The tax break will apply to a non-UK resident using a local exchange to make crypto trades. An investment manager trading on behalf of a non-UK resident will also be given a relief from paying taxes on profits ch...
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Taiwan Proposes Bigger Tax Breaks for Chipmakers' Research, Development to Retain Competitive Edge
Taiwan's government has proposed larger tax breaks for chipmakers' research and development into semiconductor technology, as the island nation looks to retain its competitive edge. Governments around the world have been touting incentives to bring chip production onshore, in the wake of a global chip shortage.
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Hyundai Set to Launch $5.5 Billion US EV Plant as Inflation Reduction Act Dims Sales Outlook
Hyundai on Tuesday will break ground on a new $5.5 billion (roughly Rs. 45,500 crore) electric vehicle (EV) and battery plant in the US, ahead of the company's plans to begin commercial production in the first half of 2025 in the massive plant in Bryan county, west of Savannah. The event comes at a time when South Korea and the European Union are a...
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EU Electric Car Makers May Soon Have Level Playing Field With US EV Manufacturers For Subsidies: Details
European Union officials are expected to reach an agreement with their US counterparts as the bloc aims to get the same status as US car makers for EV manufacturers in the EU. The US Inflation Reduction Act offers government tax breaks or subsidies for purchases of electric cars but makes such support conditional on the car, or parts of it, being m...
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US Plan For Electric Vehicles Tax Breaks May Breach WTO Rules: European Union, South Korea
The European Union and South Korea have raised concerns about proposed U.S. tax credits for purchases of electric vehicles, saying they may discriminate against foreign-made vehicles and breach World Trade Organization (WTO) rules.
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Hyundai Receives $1.8 Billion In Incentives To Set-Up New EV Factory In Georgia, USA
Carmaker has received tax breaks and other incentives for the U.S. state and other local government bodies to set-up new 3 lakh unit per year EV factory.
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"How To Break Shackles Of Policy": Supreme Court On Mobility Devices GST
The Supreme Court on Friday termed the issue of levy of Goods and Services Tax on the mobility devices for people with disability as a "serious matter" and wondered how the court can break "shackles of policy".
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Russia Approves Tax Break For Issuers Of Digital Assets
Russian lawmakers on Tuesday approved a draft law that would potentially exempt issuers of digital assets and cryptocurrencies from value-added tax.
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Microsoft, Amazon Head and Other CEOs Urge US Congress to Pass China Competition Bill
Amazon, Microsoft, and Alphabet CEOs, among other heads, urged the US Congress to pass the China competition bill aimed at boosting US’s economic competitiveness against China.
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Toyota's Thai Unit Agrees To Boost EV Incentives
Toyota Motor Thailand to receive tax breaks and subsidies to help make EVs cheaper
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Karnataka Plans Tax Waivers for Hybrid Cars, Incentives for EVs
Karnataka plans to cut levies and offer financial incentives to companies in the clean mobility sector, including a steep tax cut for hybrid cars. The move could make the state, home to the tech hub of Bengaluru, the second after northern Uttar Pradesh to provide tax breaks to hybrid cars, for which Toyota has lobbied New Delhi.
-
Fire Breaks Out At Income Tax Building In Delhi, 7 People Rescued
A fire broke out inside the Income Tax CR Building in ITO area on Tuesday, officials of the Delhi Fire Services said.
-
Apple Set to Face Over $500 Million Fine After EU Finds It Broke Rules to Silence Spotify, Other Rivals
Apple will face a European Union fine close to EUR 500 million ($539 million or roughly Rs. 4,475 crore) over the regulator’s investigation into allegations it silenced music-streaming rivals, including Spotify Technology SA, on its platforms.
-
Samsung's Quarterly Profit Could Hit Six-Year Low as Consumers Cut Spending, Analysts Say
Samsung's quarterly profit is expected to fall 58 percent amid the ongoing global economic downturn, to its lowest point in six years, according to analysts. The prediction comes amid reduced spending by consumers and businesses during a period of high inflation and escalating interest rates. Samsung is expected to announce preliminary results on F...
-
South Korea Proposes Stronger Incentives, Bigger Tax Breaks to Boost Critical Chip Sector
South Korea plans to introduce bigger tax breaks for chip manufacturers in the country, a month after a law allowing for new incentives was passed. The country has been caught between the US and China in an escalating fight over critical semiconductors, which are used in a wide range of electronic devices from smartphones to missiles.
-
UK PM Rishi Sunak Revokes Tax Payments for Foreign Crypto Buyers: Details
UK, stepping into 2023 will exempt foreigners who are using local British crypto exchanges for buying cryptocurrencies from paying taxes. The tax break will apply to a non-UK resident using a local exchange to make crypto trades. An investment manager trading on behalf of a non-UK resident will also be given a relief from paying taxes on profits ch...
-
Taiwan Proposes Bigger Tax Breaks for Chipmakers' Research, Development to Retain Competitive Edge
Taiwan's government has proposed larger tax breaks for chipmakers' research and development into semiconductor technology, as the island nation looks to retain its competitive edge. Governments around the world have been touting incentives to bring chip production onshore, in the wake of a global chip shortage.
-
Hyundai Set to Launch $5.5 Billion US EV Plant as Inflation Reduction Act Dims Sales Outlook
Hyundai on Tuesday will break ground on a new $5.5 billion (roughly Rs. 45,500 crore) electric vehicle (EV) and battery plant in the US, ahead of the company's plans to begin commercial production in the first half of 2025 in the massive plant in Bryan county, west of Savannah. The event comes at a time when South Korea and the European Union are a...
-
EU Electric Car Makers May Soon Have Level Playing Field With US EV Manufacturers For Subsidies: Details
European Union officials are expected to reach an agreement with their US counterparts as the bloc aims to get the same status as US car makers for EV manufacturers in the EU. The US Inflation Reduction Act offers government tax breaks or subsidies for purchases of electric cars but makes such support conditional on the car, or parts of it, being m...
-
US Plan For Electric Vehicles Tax Breaks May Breach WTO Rules: European Union, South Korea
The European Union and South Korea have raised concerns about proposed U.S. tax credits for purchases of electric vehicles, saying they may discriminate against foreign-made vehicles and breach World Trade Organization (WTO) rules.
-
Hyundai Receives $1.8 Billion In Incentives To Set-Up New EV Factory In Georgia, USA
Carmaker has received tax breaks and other incentives for the U.S. state and other local government bodies to set-up new 3 lakh unit per year EV factory.
-
"How To Break Shackles Of Policy": Supreme Court On Mobility Devices GST
The Supreme Court on Friday termed the issue of levy of Goods and Services Tax on the mobility devices for people with disability as a "serious matter" and wondered how the court can break "shackles of policy".
-
Russia Approves Tax Break For Issuers Of Digital Assets
Russian lawmakers on Tuesday approved a draft law that would potentially exempt issuers of digital assets and cryptocurrencies from value-added tax.
-
Microsoft, Amazon Head and Other CEOs Urge US Congress to Pass China Competition Bill
Amazon, Microsoft, and Alphabet CEOs, among other heads, urged the US Congress to pass the China competition bill aimed at boosting US’s economic competitiveness against China.
-
Toyota's Thai Unit Agrees To Boost EV Incentives
Toyota Motor Thailand to receive tax breaks and subsidies to help make EVs cheaper
