-Newsclick.in Finance ministers from G7 countries have agreed on a deal to check tax avoidance by the biggest multinational conglomerations. How the G20 reacts to this accord and how these plans are implemented, remains to be seen. A recent report by ProPublica has revealed how multibillionaires from the US, including Amazon’s Jeff Bezos, Tesla’s Elon Musk, Microsoft’s Bill Gates and Facebook’s Mark Zuckerberg, among others, have managed to avoid paying federal taxes...
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A far-reaching tax measure -Ipsita Agarwalla and Meyyappan Nagappan
-The Hindu The U.S. push for a global minimum corporate tax may help India, but it can also cause international disagreements The Pillar Two proposal was the Organisation for Economic Co-operation and Development’s (OECD) plan to plug the remaining Base Erosion and Profit Shifting (BEPS) issues and provide jurisdictions the right to “tax back” where other jurisdictions have either not exercised their primary taxing right or have exercised it at low levels...
More »The Proposal for a Minimum Global Corporate Tax Rate -Prabhat Patnaik
-NetworkIdeas.org Following its $1.9 trillion Covid-relief package, the Biden administration has further announced an infrastructure package of $2.3 trillion. But in contrast to the former which is to be spent within months, the latter is to be spent over an eight-year period. And this package in turn is to be followed by a “human infrastructure” package. All this adds up to a massive stimulus for the economy as well as a...
More »Govt. has an active role to play during the pandemic in terms of nutritional support, education & jobs, says IFPRI report
A recent report by the International Food Policy Research Institute (IFPRI) states that the countrywide lockdown imposed on 25th March, 2020, which was extended for nearly two months in phases, affected the food and nutritional status of vulnerable sections of the Indian population. It says that a programme like the Mid-Day Meal Scheme covers four-fifth of primary-school-aged children in the country that helps in improving not only nutrition but also...
More »Nod for cash payment for COVID bills of over ₹2 lakh
-The Hindu The relaxation has been granted for payments received in cash between April 1 and May 31, provided such healthcare providers obtain the PAN or Aadhaar of the patient and the payee. The government has notified changes to the Income Tax Act to allow cash payments of over ₹2 lakh for COVID-19 patients’ treatment at hospitals, dispensaries, nursing homes, COVID care centres or other similar medical facilities. The relaxation has been granted...
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