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taxes

India imposes $88mn fine on Xiaomi for evading import taxes

NEW DELHI: India has asked the local unit of Chinese smartphone giant Xiaomi to pay 6.53 billion rupees ($87.80 million) in import taxes after an investigation found that the company had evaded some duties. A probe by India’s Directorate of

Budget expectations

The month of May brings great hope and anxiety as we take a close look at each passing day and also take a keen interest in TV news and analysis. There is only one event we looking forward to –

Rich countries could use taxes to reduce inequalities: IMF

WASHINGTON: The International Monetary Fund said advanced economies could use more progressive income taxes, inheritance and property taxes, and taxes on “excess” corporate profits to help reduce inequalities exposed by the COVID-19 pandemic. The IMF’s Fiscal Monitor said the pandemic

Biden singles out Amazon for not paying federal income taxes

WASHINGTON: US President Joe Biden singled out Amazon.com for not paying federal taxes as he spoke about raising the burden of taxes on multinational companies and hiking the corporate tax rate. Biden’s infrastructure plan unveiled earlier in the day increases

Foreign debts and taxes

The prime minister has claimed that the  incumbent government returned loans worth $20 billion in the past two years. This may be correct but foreign debts have reached a record level during the PTI government’s tenure as it seeks new

FBR receives record taxes in five months

ISLAMABAD: The Federal Board of Revenue (FBR) has collected record taxes in July-November. According to a spokesperson of the Federal Board of Revenue (FBR), the body collected Rs. 1,686 billion in taxes during the five months from July to November,

Trump’s taxes

The United States presidential elections is just five weeks away as Donald Trump goes head-on with his Democrat challenger Joe Biden. Trump has been criticised for his handling of the coronavirus situation and has been falling way behind in opinion

Singapore to ban sugary drink ads to curb consumption

SINGAPORE: The health ministry of Singapore has decided to ban advertisements for certain fizzy drinks to curb consumption of sugar in the city-state. The health ministry took the decision as part to take measures in curbing consumption of sugar in