-TheIndiaForum.in ‘While the global minimum tax proposal is a step forward, that step is disappointingly short of what is needed and possible.’ Following years of negotiations, most nations in the world now appear to be willing to align their corporate tax regimes to prevent multinationals from evading taxation in the jurisdictions in which they operate. They have now tentatively agreed on the need for a global minimum corporate tax rate and a...
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Global Fashion Brands Caused Humanitarian Crisis in 6 Asian Countries During Pandemic, Says Report -Ditsa Bhattacharya
-Newsclick.in Nearly 93% of the Indian garment workers were pushed below the international poverty line of the World Bank in April and May, 2020 Garment workers lost a significant amount of wage during the pandemic in six Asian countries including India. Workers’ wages were at poverty levels even before the pandemic, and were pushed further below the International Poverty Line in their countries by the pandemic, according to a recent report titled...
More »Needed: full disclosure on electoral bonds -Rakesh Dubbudu and Inayat Sabhikhi
-The Hindu The Supreme Court’s suggestion to ‘match the following’ on political donations is impractical and incorrect In 2014, the Delhi High Court held that both the Congress and the Bharatiya Janata Party (BJP) were guilty of illegally accepting donations from two companies registered in India but whose controlling shareholder was Vedanta, a foreign company. The court held that this was in contravention of the Foreign Contribution (Regulation) Act (FCRA), 1976, as...
More »G7 Corporate Tax Deal -- Setting the Bar Too Low? -Shinzani Jain
-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...
More »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...
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