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As Union finance minister Nirmala Sitharaman prepares to present the Union Budget 2026–27 tomorrow (February 1), tax data from the past five years highlights the evolving revenue base of the government. Both direct and indirect taxes have grown steadily, reflecting changes in economic activity, compliance and policy design. A closer look at the data shows…
Improving the ease of doing business has been a consistent focus of the government. Successive Budgets have announced initiatives towards policy and regulatory reforms, decriminalisation and easing compliances in various spheres including taxation. The current financial year witnessed significant measures like structural simplification through the new Income tax law, boosting consumption through tax reliefs for…
NEW DELHI: Amid outflows, foreign portfolio investors (FPIs) have sought a review of the taxes applicable on them, especially capital gains.Those familiar with the deliberations said the issue has been raised with market regulator Sebi as well as govt officials with certainty in tax policies being underlined repeatedly.Apart from high cost of trading in India…
NEW DELHI: Despite strong evidence linking alcohol and sugar-sweetened beverages to cancers, liver disease, obesity, diabetes, heart disease and road injuries, both products are becoming more affordable in India, the World Health Organisation (WHO) has warned, calling weak tax design across South-East Asia a major public-health failure.Across two recent global reports, the WHO ranks South-East…
The new versus old tax regime choice was meant to empower taxpayers. Instead, it has spawned a parallel paperwork universe. By Nishant KhemaniEvery Union Budget comes with its share of grand announcements, but for ordinary taxpayers, the real test lies in the fine print. As Budget 2026 approaches, expectations are modest yet meaningful: simplify compliance,…
US President Donald Trump is once again floating the idea that tariffs could one day replace federal income taxes in the United States, reviving a proposal that has been the focus of his economic approach since the 2024 presidential campaign.Trump claims that the revenue generated from tariffs is rising fast enough to eventually eliminate the…
TOI correspondent from UK: Lakshmi Mittal has voted with his feet. The 75-year-old steel magnate has walked away from Britain — and straight into Switzerland — joining a rush of the ultra-rich escaping Labour govt’s tax squeeze targeting high-net-worth residents.Mittal, one of Britain’s richest men and a long-time Labour donor, has left the UK just…
MUMBAI: The trade agreement between India and the European Free Trade Association (EFTA) will allow Swiss luxury watch brands to offer more competitive pricing in the South Asian country, widening their appeal, said Adrian Bosshard, CEO at Rado which counts India as its biggest market, surpassing top luxury spenders China and the US.The trade pact…
JAIPUR: Rajasthan HC Thursday ordered the commercial taxes department to release within seven days the full salary and arrears of one of its officers who has been without pay for over a year since slipping into a coma in Aug 2023.HC passed the order after hearing a plea by the officer’s wife. The petitioner’s counsel…
Eiffel tower closed due to nationwide protests (AP image) The Eiffel Tower in Paris was closed on Thursday as nationwide strikes disrupted daily life across France. Thousands of protesters marched through more than 200 towns and cities, denouncing proposed spending cuts and demanding higher taxes on the wealthy. In Paris, workers, retirees and students rallied…
