India's Finance Minister Nirmala Sitharaman presented the Union Budget for fiscal year 2023-24 in the Parliament on February 1. And in a major relief for the middle class, an Income tax rebate was extended on income up to Rs 7 lakhs under the new tax regime.

Union Budget 2023: Major relief for Income tax payers

Indians have awaited the Union Budget 2023 as it directly impacts their daily lives. As the essential and non-essential items get cheaper or costlier, they affect the pockets of the common man. Here’s a list of what has become cheaper and costlier.

Union Budget 2023: What's become cheaper and costlier?

Tory party chairman Nadhim Zahawi&nbsp;is facing increasing pressure from his party colleagues to resign over the controversy regarding his tax dispute with the HM Revenue &amp; Customs (HMRC).&nbsp;Robert Antony Hayward became the latest Conservative Party member to seek Zahawi’s resignation until the inquiry concludes. He warned that the whole issue could help “flatline” Tory popularity ahead of the local elections, reports Independent newspaper.&nbsp;

Meanwhile, Prime Minister Sunak continued to face the heat during the Prime Minister’s Questions in the parliament. &nbsp;

Labour leader Keir Starmer&nbsp;called Sunak “hopelessly weak” for failing to sack&nbsp;Nadhim Zahawi during a fierce clash between the two leaders in the parliament.&nbsp;

Starmer slammed Sunak for “overseeing chaos”, saying it was “fairly obvious” that the former chancellor should step aside. Earlier, the UK leader ordered his ethics adviser to investigate Zahawi’s tax affairs.&nbsp;

<h2>UK PM Rishi Sunak to come under fresh pressure over Nadhim Zahawi tax row</h2>

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The prime minister shot back at Starmer, saying that it occurred before he was PM. &nbsp;

Notably, Zahawi was not present in the House of Commons as the two leaders clashed.&nbsp;

On Saturday, Zahawi said that he has settled the dispute with HMRC, adding that the tax authority accepted the error was "careless and not deliberate".&nbsp;

Zahawi was cleared by Whitehall officials to work in Sunak’s government after he became prime minister.&nbsp;

However, The Times&nbsp;reported that neither he nor&nbsp;his predecessor Liz Truss&nbsp;were aware of Zahawi’s dispute with&nbsp;HMRC.&nbsp;

The tax was related to a shareholding in YouGov, the polling company he co-founded in 2000 before he became an MP.&nbsp;

(With inputs from agencies)&nbsp;

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Tory party chairman Nadhim Zahawi is facing increasing pressure from his party colleagues to resign over the controversy regarding his tax dispute with the HM Revenue & Customs (HMRC).

Tory party chairman Nadhim Zahawi is facing increasing pressure from his party colleagues to resign over the controversy regarding his tax dispute with the HM Revenue & Customs (HMRC). Robert Antony Hayward became the latest Conservative Party member to seek Zahawi’s resignation until the inquiry concludes. He warned that the whole issue could help “flatline” Tory popularity ahead of the local elections, reports Independent newspaper. Meanwhile, Prime Minister Sunak continued to face the heat during the Prime Minister’s Questions in the parliament. Labour leader Keir Starmer called Sunak “hopelessly weak” for failing to sack Nadhim Zahawi during a fierce clash between the two leaders in the parliament. Starmer slammed Sunak for “overseeing chaos”, saying it was “fairly obvious” that the former chancellor should step aside. Earlier, the UK leader ordered his ethics adviser to investigate Zahawi’s tax affairs. UK PM Rishi Sunak to come under fresh pressure over Nadhim Zahawi tax row The prime minister shot back at Starmer, saying that it occurred before he was PM. Notably, Zahawi was not present in the House of Commons as the two leaders clashed. On Saturday, Zahawi said that he has settled the dispute with HMRC, adding that the tax authority accepted the error was "careless and not deliberate". Zahawi was cleared by Whitehall officials to work in Sunak’s government after he became prime minister. However, The Times reported that neither he nor his predecessor Liz Truss were aware of Zahawi’s dispute with HMRC. The tax was related to a shareholding in YouGov, the polling company he co-founded in 2000 before he became an MP. (With inputs from agencies) WATCH WION LIVE HERE:

Calls grow to sack Zahawi, UK PM Rishi Sunak parries Labour onslaught in parliament

Riot police have tossed tear gas to disperse anti-government protesters in new unrest in Peru's capital, and the nation's interior minister said there was no end in sight to the tumult gripping the nation.

Peru's tax and administration office set on fire, protestors demand the resignation of president

UK Prime Minister Rishi Sunak has asked his independent ethics adviser to look into the tax affairs of Conservative Party Chairman Nadhim Zahawi. Mr Zahawi is facing calls to resign, after it emerged that he paid a penalty to HMRC over previously unpaid tax while he was chancellor, as part of a multi-million pound dispute.

UK PM Rishi Sunak orders ethics adviser to probe into Nadhim Zahawi tax row

The former Prime Minister of the United Kingdom Boris Johnson on Tuesday asked Tories to argue “for a low tax global Britain” and contest the next elections on a pledge to reduce taxes. While speaking at the Carlton Club, Johnson called on Prime Minister Rishi Sunak to move through with a new bill that would supersede the Northern Ireland Protocol and end the Brexit standoff in Northern Ireland, The Telegraph reported. 
&nbsp; 
He unveiled a portrait of himself at the Conservative Party's spiritual headquarters in Mayfair as he challenged Sunak.

Predicting a poll recovery for the Conservatives, Johnson said, “When the moment of real electoral decision approaches - and it will - people will realise that there is only one party that yearns to reduce the burden of tax.”&nbsp;

“There is only one party that really believes in extending the joys of home ownership. There is only one party with the guts to stand up to the Union barons," he added.

Also Read |&nbsp;<a href="http://www.wionnews.com/world/uk-pm-rishi-sunak-faces-fresh-tory-rebellion-from-boris-johson-liz-truss-537384" hreflang="en">UK PM Rishi Sunak faces fresh Tory rebellion from Boris Johnson, Liz Truss</a>

Talking about Brexit, Johnson said, "Only one party, the Conservative Party, believes in the Union with Northern Ireland and will pass the necessary laws to protect the economic integrity of the UK." There was "only one party that will dare to do what is necessary to disrupt the evil gangs that send people across the channel in unseaworthy vessels – by sending illegal immigrants to Rwanda,” he said.

"And there is only one party that really believes in Brexit – and its potential to transform the economy of this country. And only one party will continue to make use of Brexit freedoms from financial services to genetic engineering. When people realise this – I think the political dynamic is going to change. There is no desire to vote for Keir Starmer, for Sir Crasheroonie Snoozefest," Johnson continued.

Watch |&nbsp;<a href="http://13.235.153.162/videos/boris-johnson-challenges-pm-sunak-to-lower-taxes-551730" hreflang="en">Boris Johnson challenges PM Sunak to lower taxes</a>

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Since being ousted from power by his own MPs last summer, Johnson's rallying appeal to the party's followers is believed to be his most politically heated address to date. It also comes amid speculation that Sunak may face a challenge later this year.

The party must "never give in, keep fighting, keep backing the Government – keep making the case for levelling up, for opportunities and for a dynamic low tax global Britain. That is how we will win again,” Johnson said while addressing the club members.

Johnson also made predictions about inflation, saying it "will come dramatically,"&nbsp;"China will get through Covid" and "Putin will lose in Ukraine,” during his address.

(With inputs from agencies)

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The former Prime Minister of the United Kingdom Boris Johnson on Tuesday asked Tories to argue “for a low tax global Britain” and contest the next elections on a pledge to reduce taxes.

The former Prime Minister of the United Kingdom Boris Johnson on Tuesday asked Tories to argue “for a low tax global Britain” and contest the next elections on a pledge to reduce taxes. While speaking at the Carlton Club, Johnson called on Prime Minister Rishi Sunak to move through with a new bill that would supersede the Northern Ireland Protocol and end the Brexit standoff in Northern Ireland, The Telegraph reported. He unveiled a portrait of himself at the Conservative Party's spiritual headquarters in Mayfair as he challenged Sunak. Predicting a poll recovery for the Conservatives, Johnson said, “When the moment of real electoral decision approaches - and it will - people will realise that there is only one party that yearns to reduce the burden of tax.” “There is only one party that really believes in extending the joys of home ownership. There is only one party with the guts to stand up to the Union barons," he added. Also Read | UK PM Rishi Sunak faces fresh Tory rebellion from Boris Johnson, Liz Truss Talking about Brexit, Johnson said, "Only one party, the Conservative Party, believes in the Union with Northern Ireland and will pass the necessary laws to protect the economic integrity of the UK." There was "only one party that will dare to do what is necessary to disrupt the evil gangs that send people across the channel in unseaworthy vessels – by sending illegal immigrants to Rwanda,” he said. "And there is only one party that really believes in Brexit – and its potential to transform the economy of this country. And only one party will continue to make use of Brexit freedoms from financial services to genetic engineering. When people realise this – I think the political dynamic is going to change. There is no desire to vote for Keir Starmer, for Sir Crasheroonie Snoozefest," Johnson continued. Watch | Boris Johnson challenges PM Sunak to lower taxes Since being ousted from power by his own MPs last summer, Johnson's rallying appeal to the party's followers is believed to be his most politically heated address to date. It also comes amid speculation that Sunak may face a challenge later this year. The party must "never give in, keep fighting, keep backing the Government – keep making the case for levelling up, for opportunities and for a dynamic low tax global Britain. That is how we will win again,” Johnson said while addressing the club members. Johnson also made predictions about inflation, saying it "will come dramatically," "China will get through Covid" and "Putin will lose in Ukraine,” during his address. (With inputs from agencies) WATCH WION LIVE HERE:

Boris Johnson asks Conservatives to contest elections for low tax Britain, challenges Rishi Sunak

Dubai has scrapped a 30% tax on alcohol and will no longer charge tourists or expats for permits to buy alcoholic drinks as the emirate tries to attract more foreign workers and visitors.

WION Fineprint: Dubai scraps 30% tax on alcohol

Six years of Donald Trump’s tax returns were made public by a congressional panel, ending the former president’s long-running effort to break precedent and keep them secret.

US house panel releases Trump's tax records of past six years

Apple has been hit with $98 million in back taxes. The tech giant failed to flag suspicious bulk purchases from foreign visitors and will have to cover the tax exemptions.

Gravitas: Apple to cover incorrect tax exemptions in Japan

First sales tax hike in 15 years has sent Singapreans on shopping spree as the increase is due to kick&nbsp;in on January 1, 2023. Though the increase is from 7 per cent to 8 per cent, the 1 per cent hike is going to apply to everything from groceries to diamond rings. Barring a&nbsp; projected sharp global economic downturn next year, it will then rise to 9% in 2024 as the city state of 5.6 million people raises revenue to support its ageing population.

Economists feel that the impact of one percentage point tax hike may be muted as consumer spending surge is likely to be followed by a lull after the tax rise kicks in.

For consumers right now, the impending increase is important as they seek to save money.

"A 1% increment may be small, but any savings help in this inflationary environment," 28-year-old Soif Noor told Reuters. By buying everything now before the hike, Soif said he's saving S$250 ($185) on his purchases, now in storage at retailers' facilities.

WION Fineprint | Singapore: From 30 December, beverages to be ranked by their sugar content

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Noor further said that some of his male colleagues are rushing to buy engagement rings, being urged by girlfriends to "propose now - if not it will be more expensive next year".

When the tax hike kicks in, the sales tax in Singapore will be slightly higher than Thailand's 7% but lower than Indonesia's 11%, less than half the roughly 20% rate imposed in many countries in Europe, and below Japan's 10%.

Singapore's move to forge ahead with the tax increase comes even as some countries, like Thailand and Italy, approve consumption tax breaks to help citizens cope with the rising cost of living crisis.

OCBC economist Selena Ling said the current "positive bump" in big-ticket consumer purchases was good for the retail sector, but the impact on the overall economy is likely to be muted. The sale or lease of residential property is exempt from the tax, while the impact on car sales remains uncertain, with prices at record highs this year.

Ling expects economic growth in the first quarter of next year to be slow with "less consumer appetite for excessive spending in the near term until the uncertainties abate".

(With inputs from agencies)

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First sales tax hike in 15 years has sent Singapreans on shopping spree as the increase is due to kick in on January 1, 2023. Though the increase is from 7 per cent to 8 per cent, the 1 per cent hike is going to apply to everything from groceries to diamond rings.

First sales tax hike in 15 years has sent Singapreans on shopping spree as the increase is due to kick in on January 1, 2023. Though the increase is from 7 per cent to 8 per cent, the 1 per cent hike is going to apply to everything from groceries to diamond rings. Barring a projected sharp global economic downturn next year, it will then rise to 9% in 2024 as the city state of 5.6 million people raises revenue to support its ageing population. Economists feel that the impact of one percentage point tax hike may be muted as consumer spending surge is likely to be followed by a lull after the tax rise kicks in. For consumers right now, the impending increase is important as they seek to save money. "A 1% increment may be small, but any savings help in this inflationary environment," 28-year-old Soif Noor told Reuters. By buying everything now before the hike, Soif said he's saving S$250 ($185) on his purchases, now in storage at retailers' facilities. WION Fineprint | Singapore: From 30 December, beverages to be ranked by their sugar content × Noor further said that some of his male colleagues are rushing to buy engagement rings, being urged by girlfriends to "propose now - if not it will be more expensive next year". When the tax hike kicks in, the sales tax in Singapore will be slightly higher than Thailand's 7% but lower than Indonesia's 11%, less than half the roughly 20% rate imposed in many countries in Europe, and below Japan's 10%. Singapore's move to forge ahead with the tax increase comes even as some countries, like Thailand and Italy, approve consumption tax breaks to help citizens cope with the rising cost of living crisis. OCBC economist Selena Ling said the current "positive bump" in big-ticket consumer purchases was good for the retail sector, but the impact on the overall economy is likely to be muted. The sale or lease of residential property is exempt from the tax, while the impact on car sales remains uncertain, with prices at record highs this year. Ling expects economic growth in the first quarter of next year to be slow with "less consumer appetite for excessive spending in the near term until the uncertainties abate". (With inputs from agencies) You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here. WATCH WION LIVE HERE ×

Singapore: Shoppers hit malls to fill stocks, save money before tax hike kicks in

Russian parliament's lower house is preparing a law to impose higher tax rate on those who left the country after the start of Ukraine war, said Vyacheslav Volodin, the speaker of the Duma.&nbsp;"It is right to cancel preferences for those who have left the Russian Federation and to introduce an increased tax rate for them," Volodin wrote on the Telegram messaging app.

"We are working on appropriate changes to the legislation."

It is not fully clear how many Russians have left the country since the start of the war.

By early October, some local media had reported that as many as 700,000 had fled following the September announcement of a mobilisation drive to call up as many as 300,000 to fight. The government had strongly refuted that figure at the time.

Russia's 13% personal income tax is deducted automatically by domestic employers. Russians working abroad who are Russian tax residents must pay the tax independently, according to the Federal Tax Service of Russia.

"It's completely understandable why they fled," Volodin said. "Those who realised that they had made a mistake have already returned. The rest should understand: the vast majority of society does not support their act and believes that they betrayed their country, relatives and friends."

(With inputs from agencies)

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Russian parliament's lower house is preparing a law to impose higher tax rate on those who left the country after the start of Ukraine war, said Vyacheslav Volodin, the speaker of the Duma.

Russian parliament's lower house is preparing a law to impose higher tax rate on those who left the country after the start of Ukraine war, said Vyacheslav Volodin, the speaker of the Duma. "It is right to cancel preferences for those who have left the Russian Federation and to introduce an increased tax rate for them," Volodin wrote on the Telegram messaging app. "We are working on appropriate changes to the legislation." It is not fully clear how many Russians have left the country since the start of the war. By early October, some local media had reported that as many as 700,000 had fled following the September announcement of a mobilisation drive to call up as many as 300,000 to fight. The government had strongly refuted that figure at the time. Russia's 13% personal income tax is deducted automatically by domestic employers. Russians working abroad who are Russian tax residents must pay the tax independently, according to the Federal Tax Service of Russia. "It's completely understandable why they fled," Volodin said. "Those who realised that they had made a mistake have already returned. The rest should understand: the vast majority of society does not support their act and believes that they betrayed their country, relatives and friends." (With inputs from agencies) You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here. WATCH WION LIVE HERE ×

Russia plans to impose higher tax on those who left nation after Ukraine war started

Donald Trump did not pay any taxes during his final years of presidency in 2020 by showing losses in sprawling business, Reuters news agency reported citing tax figures released by a congressional panel.

The records were released by the Democratic-led House of Representatives Ways and Means Committee late on Tuesday.

The tax records show that Trump's income, and his tax liability, had dramatic changes during his four years in the White House.

The documents revealed that Trump and his wife, Melania, paid some form of tax during all four years, but were able to cut down their taxes by showing losses and deductions.

The committee has called into question some of those tax deductions claimed by the Trump's family including the one for $916 million, members said on Tuesday, adding that the tax returns were short on details.

The panel members said that they would release the redacted versions of his full returns in the coming days.

With the tax rebate revelations, the Democratic party aims to snuff out every last bit of support for Trump, who has expressed his intention to run for the office in 2024.

The development is significant as Trump had refused to make his tax returns public during his two presidential bids and his campaign for office, despite other presidential candidates having done so for decades.

Moreover, the US Internal Revenue Service hesitated to review the tax returns of Trump, until the Democrats pressed for action in 2019.

After a years-long fight, the committee made some of Trump’s tax records public on Tuesday.

Reacting to the development, a Trump spokesman termed the release of the documents “politically motivated”.

"If this injustice can happen to President Trump, it can happen to all Americans without cause," Trump Organization spokesman Steven Cheung said on Wednesday.

(With inputs from agencies)

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Donald Trump did not pay any taxes during his final years of presidency in 2020 by showing losses in sprawling business, Reuters news agency reported citing tax figures released by a congressional panel.

Donald Trump did not pay any taxes during his final years of presidency in 2020 by showing losses in sprawling business, Reuters news agency reported citing tax figures released by a congressional panel. The records were released by the Democratic-led House of Representatives Ways and Means Committee late on Tuesday. The tax records show that Trump's income, and his tax liability, had dramatic changes during his four years in the White House. The documents revealed that Trump and his wife, Melania, paid some form of tax during all four years, but were able to cut down their taxes by showing losses and deductions. The committee has called into question some of those tax deductions claimed by the Trump's family including the one for $916 million, members said on Tuesday, adding that the tax returns were short on details. The panel members said that they would release the redacted versions of his full returns in the coming days. With the tax rebate revelations, the Democratic party aims to snuff out every last bit of support for Trump, who has expressed his intention to run for the office in 2024. The development is significant as Trump had refused to make his tax returns public during his two presidential bids and his campaign for office, despite other presidential candidates having done so for decades. Moreover, the US Internal Revenue Service hesitated to review the tax returns of Trump, until the Democrats pressed for action in 2019. After a years-long fight, the committee made some of Trump’s tax records public on Tuesday. Reacting to the development, a Trump spokesman termed the release of the documents “politically motivated”. "If this injustice can happen to President Trump, it can happen to all Americans without cause," Trump Organization spokesman Steven Cheung said on Wednesday. (With inputs from agencies) WATCH WION LIVE HERE:

Donald Trump did not pay taxes in 2020, showed ‘questionable’ losses: US committee  

A Congressional committee has voted to publically release tax returns filed by former US President Donald Trump. Republicans have said that the release of tax returns sets a 'dangerous precedent'.

US Congress to release Donald Trump's tax filings

Marking a historic first, Agra Municipal Corporation has sent notices to the Archaeological Survey of India (ASI) requesting payment of Rs 1.9 crore in water tax and Rs 1.47 lakh in property&nbsp;tax on the Taj Mahal. The monument was designated as protected in 1920, and as a result, this request for a tax from the municipal corporation is generating a discussion.

What do the bills say?

The invoices relate to the fiscal years 2021–2022 and 2022–2023. According to the notification given to the ASI, the unpaid property tax as of 31 March, 2022, was Rs 88,784, plus Rs 47,983 in interest. For the fiscal year 2022–2023, a property tax of Rs 11,098 has been added, bringing the total to Rs 14,7826, which must be paid within 15 days. ASI has been instructed to pay any outstanding debts within the next 15 days; else, the Taj Mahal would be "attached" if the tax is not paid on time. The notice also contains interest for prior tax obligations that were unpaid.&nbsp;

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How has the ASI responded to it?

While speaking to media outlets, ASI superintending archaeologist Raj Kumar Patel said, "property tax is not applicable on monuments. We are also not liable to pay taxes for water as there is no commercial use of it. Water is used to maintain greenery within the premises. Notices related to water and property tax for Taj Mahal have been received for the first time. It could have been sent by mistake."

He also added that if the AMC wants house tax on the Taj Mahal, it should raise the demand to the central government. R K Patel is now reportedly consulting ASI directorate for guidance over the issue.&nbsp;

Meanwhile, Agra Tourist Welfare Chamber secretary Vishal Sharma has also made a comment over water and house tax issue on Taj Mahal. Given that the Taj Mahal is a central government property and a World Heritage Site, he claimed that the tax recovery notification is incomprehensible. According to Sharma, the mayor of Agra needs to explain why the Taj Mahal was used as the subject of this notification.

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Municipal Commissioner

Making a remark over the issue, Municipal commissioner Nikhil T Funde said, "I am not aware about the tax-related proceedings related to the Taj Mahal. Fresh notices are being issued based on the statewide geographic information system (GIS) survey conducted for calculation of taxes. All premises, including government buildings and religious sites, have been issued notices based on dues pending on them. Rebate is provided following due process of law. In the case of notices issued to ASI, required action will be taken on the basis of response received from them."

Assistant municipal commissioner and in-charge of the Tajganj zone, Sarita Singh, said the matter related to notices issued for water and property tax on the Taj Mahal is being investigated. "A private company has been tasked to realise tax on the basis of a GIS survey," she added.&nbsp;

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Other similar notices&nbsp;

A similar notice has been sent to Itmad-ud-Daulah, which is also an ASI-protected monument.&nbsp;

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Marking a historic first, Agra Municipal Corporation has sent notices to the Archaeological Survey of India (ASI) requesting payment of Rs 1.9 crore in water tax and Rs 1.

Marking a historic first, Agra Municipal Corporation has sent notices to the Archaeological Survey of India (ASI) requesting payment of Rs 1.9 crore in water tax and Rs 1.47 lakh in property tax on the Taj Mahal. The monument was designated as protected in 1920, and as a result, this request for a tax from the municipal corporation is generating a discussion. What do the bills say? The invoices relate to the fiscal years 2021–2022 and 2022–2023. According to the notification given to the ASI, the unpaid property tax as of 31 March, 2022, was Rs 88,784, plus Rs 47,983 in interest. For the fiscal year 2022–2023, a property tax of Rs 11,098 has been added, bringing the total to Rs 14,7826, which must be paid within 15 days. ASI has been instructed to pay any outstanding debts within the next 15 days; else, the Taj Mahal would be "attached" if the tax is not paid on time. The notice also contains interest for prior tax obligations that were unpaid. ALSO READ | What on earth! Male mason wasps can attack predators with their genitalia, study shows How has the ASI responded to it? While speaking to media outlets, ASI superintending archaeologist Raj Kumar Patel said, "property tax is not applicable on monuments. We are also not liable to pay taxes for water as there is no commercial use of it. Water is used to maintain greenery within the premises. Notices related to water and property tax for Taj Mahal have been received for the first time. It could have been sent by mistake." He also added that if the AMC wants house tax on the Taj Mahal, it should raise the demand to the central government. R K Patel is now reportedly consulting ASI directorate for guidance over the issue. Meanwhile, Agra Tourist Welfare Chamber secretary Vishal Sharma has also made a comment over water and house tax issue on Taj Mahal. Given that the Taj Mahal is a central government property and a World Heritage Site, he claimed that the tax recovery notification is incomprehensible. According to Sharma, the mayor of Agra needs to explain why the Taj Mahal was used as the subject of this notification. ALSO READ | Ready to sign off: Dust on Mars chokes InSight rover as it sends what might be its last image Municipal Commissioner Making a remark over the issue, Municipal commissioner Nikhil T Funde said, "I am not aware about the tax-related proceedings related to the Taj Mahal. Fresh notices are being issued based on the statewide geographic information system (GIS) survey conducted for calculation of taxes. All premises, including government buildings and religious sites, have been issued notices based on dues pending on them. Rebate is provided following due process of law. In the case of notices issued to ASI, required action will be taken on the basis of response received from them." Assistant municipal commissioner and in-charge of the Tajganj zone, Sarita Singh, said the matter related to notices issued for water and property tax on the Taj Mahal is being investigated. "A private company has been tasked to realise tax on the basis of a GIS survey," she added. WATCH | Amber Heard to settle defamation claims against her filed by ex-husband Johnny Deep Other similar notices A similar notice has been sent to Itmad-ud-Daulah, which is also an ASI-protected monument. WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

In a historic first, tax notice on Taj Mahal

Allen Weisselberg, a former chief financial officer of the Trump Organization, appeared in court on Thursday, outlining how two of Donald Trump's children allegedly took part in a scheme to defraud tax authorities.

Weisselberg claimed that Donald Trump, or occasionally Eric Trump or Donald Trump Jr., wrote cheques totalling up to $100,000 to cover the cost of private school tuition of Weisselberg's grandchildren.&nbsp;

Weisselberg claimed that he subsequently gave the controller of the business the order to subtract $100,000 from his pay, enabling him to declare a lower income.&nbsp;

The Trumps signed copies of some of the cheques that were displayed in court.

Don't forget, I'm going to pay you back for this, Weisselberg claimed he promised Trump the first time he signed a tuition cheque. He claimed that the wage reduction served as payment.&nbsp;

Weisselberg, two Trump Organization businesses, and other defendants are charged with numerous counts of fraud and tax evasion.&nbsp;

In August, Weisselberg pleaded guilty to charges brought against him by the Manhattan District Attorney's Office, which claimed he received more than $1.7 million in untaxed pay.

Also &nbsp;Read:&nbsp;<a href="https://www.wionews.com/world/kherson-residents-switch-russian-sim-cards-with-ukrainian-ones-535144">Kherson residents switch Russian SIM cards with Ukrainian ones</a>

Over the course of the first two days of evidence, Weisselberg, who is still employed by the Trump Organization, has detailed a long list of advantages he and other executives got, for which he claims their incomes were also decreased to avoid paying taxes.&nbsp;

He claimed that in the case of himself and many other executives, significant bonus payments made to the executives in the manner of independent contractors to Trump Organization firms served to offset the compensation decreases.

(with inputs from agencies)

<iframe allow="accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="350" loading="”lazy”" src="https://www.wionews.com/live-tv/embed?autoplay=1&amp;mute=1  width=&quot;100%&quot;"></iframe>

Allen Weisselberg, a former chief financial officer of the Trump Organization, appeared in court on Thursday, outlining how two of Donald Trump's children allegedly took part in a scheme to defraud tax authorities.

Allen Weisselberg, a former chief financial officer of the Trump Organization, appeared in court on Thursday, outlining how two of Donald Trump's children allegedly took part in a scheme to defraud tax authorities. Weisselberg claimed that Donald Trump, or occasionally Eric Trump or Donald Trump Jr., wrote cheques totalling up to $100,000 to cover the cost of private school tuition of Weisselberg's grandchildren. Weisselberg claimed that he subsequently gave the controller of the business the order to subtract $100,000 from his pay, enabling him to declare a lower income. The Trumps signed copies of some of the cheques that were displayed in court. Don't forget, I'm going to pay you back for this, Weisselberg claimed he promised Trump the first time he signed a tuition cheque. He claimed that the wage reduction served as payment. Weisselberg, two Trump Organization businesses, and other defendants are charged with numerous counts of fraud and tax evasion. In August, Weisselberg pleaded guilty to charges brought against him by the Manhattan District Attorney's Office, which claimed he received more than $1.7 million in untaxed pay. Also Read: Kherson residents switch Russian SIM cards with Ukrainian ones Over the course of the first two days of evidence, Weisselberg, who is still employed by the Trump Organization, has detailed a long list of advantages he and other executives got, for which he claims their incomes were also decreased to avoid paying taxes. He claimed that in the case of himself and many other executives, significant bonus payments made to the executives in the manner of independent contractors to Trump Organization firms served to offset the compensation decreases. (with inputs from agencies)

Trump Org ex-CFO Weisselberg testifies Trumps played role in defrauding tax authorities

UK government on Thursday unveiled an austerity budget with £55 billion ($65 billion) of tax hikes and spending cuts despite confirming its economy was in recession.

WION Dispatch: UK unveils austerity budget with major tax hikes, spending cuts

At a time when Global oil Giants have made enormous profits in the backdrop of higher oil prices, U.S President Biden has criticized oil companies. Biden even threatened a windfall tax on companies that are earning big profits while Americans pay a tidy sum to fill up their cars.

U.S. President Joe Biden threatens windfall tax on oil giants

It's been over a week since New Zealand's government announced taxes on cattle burps and urine emissions to control agricultural emissions.

Framers have now begun protesting against the decision.

Convoys of farmers' vehicles were seen in Auckland, Wellington, and other states, demanding the government to take back what they call the "burp and fart" tax.&nbsp; Thousands of farmers were seen carrying placards that read, "We're not going to take it."

<a href="https://www.wionews.com//world/new-zealand-becomes-the-first-country-to-impose-agriculture-tax-to-curb-emission-524367">Also read |&nbsp;New Zealand set to be first nation to tax farmers for cattle burps, urine emissions</a>

The rule was announced by Prime Minister Jacinda Ardern, stating it to be the first in the world to attempt to control methane and nitrous oxide emissions.

Methane is one of the most harmful gases. In New Zealand, methane emissions from over six million cows are one of the major environmental problems.

Ardern argued that this law is needed to slow down emissions and could even benefit farmers if they charged for climate-friendly meat.

<a href="https://www.wionews.com/world/study-shows-methane-as-much-more-sensitive-to-global-heating-than-previously-thought-494753">Also read |&nbsp;Study shows methane is much more sensitive to global heating than previously thought</a>

However, the protest organiser Bryan Mackenzie said, "The government's ideological commitment to punitive and counterproductive emissions taxes on food production is an existential threat to rural communities."

"After years of faux consultation, the government has given up on all pretence of a fair and workable agricultural emissions policy," AFP quoted him as saying.&nbsp;

According to scientists, agriculture emissions are nearly responsible for 30 per cent of the country's climate conditions. Environmentalists argued that the farmers are stuck in the mud, and if they don't implement the rule, they with everyone will suffer due to the climate condition of the country worsening.&nbsp;

(With inputs from agencies)

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It's been over a week since New Zealand's government announced taxes on cattle burps and urine emissions to control agricultural emissions. Framers have now begun protesting against the decision.

It's been over a week since New Zealand's government announced taxes on cattle burps and urine emissions to control agricultural emissions. Framers have now begun protesting against the decision. Convoys of farmers' vehicles were seen in Auckland, Wellington, and other states, demanding the government to take back what they call the "burp and fart" tax. Thousands of farmers were seen carrying placards that read, "We're not going to take it." Also read | New Zealand set to be first nation to tax farmers for cattle burps, urine emissions The rule was announced by Prime Minister Jacinda Ardern, stating it to be the first in the world to attempt to control methane and nitrous oxide emissions. Methane is one of the most harmful gases. In New Zealand, methane emissions from over six million cows are one of the major environmental problems. Ardern argued that this law is needed to slow down emissions and could even benefit farmers if they charged for climate-friendly meat. Also read | Study shows methane is much more sensitive to global heating than previously thought However, the protest organiser Bryan Mackenzie said, "The government's ideological commitment to punitive and counterproductive emissions taxes on food production is an existential threat to rural communities." "After years of faux consultation, the government has given up on all pretence of a fair and workable agricultural emissions policy," AFP quoted him as saying. According to scientists, agriculture emissions are nearly responsible for 30 per cent of the country's climate conditions. Environmentalists argued that the farmers are stuck in the mud, and if they don't implement the rule, they with everyone will suffer due to the climate condition of the country worsening. (With inputs from agencies) WATCH WION LIVE HERE

'We're not going to take it': Thousands of farmers in New Zealand protest cattle flatulence tax

The cricketing fraternity is eagerly waiting for the commencement of the forthcoming T20 World Cup, in Australia. The next year will see another ICC event in men's cricket, with India set to host the 2023 ODI World Cup.

Ahead of the ODI WC, BCCI is in a spot of bother as it could lose big if the central government sticks to its decision to levy a heavy tax surcharge on ICC's broadcast revenue for the showpiece event, to be held later in 2023.&nbsp;

As per the&nbsp;ICC norm, every host nation is needed to obtain tax exemption from the government for hosting tournaments organised by the global body. However, India's tax rules don't allow for such exemptions; putting BCCI in a fix. For hosting the 2016 T20 World Cup, the board incurred a&nbsp;loss of&nbsp;a whopping USD 23.5 million (INR 193 crore). Thus, the BCCI is working hard to bring down the tax surcharge percentage to 10.92 per cent, as opposed to the currently demanded&nbsp;21.84 per cent.

ALSO READ |&nbsp;<a href="https://www.wionews.com/sports/t20-wc-bcci-names-mohammed-shami-as-jasprit-bumrahs-replacement-siraj-shardul-added-in-reserves-525424">T20 WC: BCCI names Mohammed Shami as Jasprit Bumrah's replacement, Siraj-Shardul added in reserves</a>

"The next ICC major men's event, which is the ICC Cricket World Cup 2023, is scheduled to be held in India in the month of October &amp; November in 2023. The BCCI was obligated to deliver a tax exemption or a tax solution to the ICC for this event, latest by April 2022," carried out&nbsp;a report which was circulated among state units prior to the BCCI's upcoming Annual General Meeting (AGM), on October 18 in Mumbai.&nbsp;

"This time line was further extended by the ICC Board till 31st May 2022. At the start of this financial year, the BCCI had advised the ICC that in line with the tax order for the 2016 event, it was expected that a 10% (excluding surcharges) tax order could be obtained as an interim measure for the 2023 event within the required time frame.

"The ICC has now received a 20% (excluding surcharges) tax order for its broadcast revenue for the 2023 event from the tax authorities in India."

If the BCCI manages to&nbsp;reduce the tax surcharge, to 10.92 percent, it will still bear a heavy loss; around INR 430 crore&nbsp;(USD 52.23 million).

ALSO READ |&nbsp;<a href="https://www.wionews.com/sports/i-will-outgoing-bcci-chief-sourav-ganguly-finally-breaks-silence-as-roger-binny-set-to-succeed-him-525097">'I will...' - Outgoing BCCI chief Sourav Ganguly breaks silence with Roger Binny all set to succeed him</a>

"The BCCI is currently working with the Ministry of Finance, Government of India and have represented against this 20% (excluding surcharges) tax order at the very highest level and are hopeful that a 10% (excluding surcharges) tax order would be forthcoming shortly.

"It is to be noted that any tax cost incurred by the ICC for the 2023 event in India will be adjusted with the BCCI's share of revenue from the ICC," the report further asserted.

The cricketing fraternity is eagerly waiting for the commencement of the forthcoming T20 World Cup, in Australia. The next year will see another ICC event in men's cricket, with India set to host the 2023 ODI World Cup.

The cricketing fraternity is eagerly waiting for the commencement of the forthcoming T20 World Cup, in Australia. The next year will see another ICC event in men's cricket, with India set to host the 2023 ODI World Cup. Ahead of the ODI WC, BCCI is in a spot of bother as it could lose big if the central government sticks to its decision to levy a heavy tax surcharge on ICC's broadcast revenue for the showpiece event, to be held later in 2023. As per the ICC norm, every host nation is needed to obtain tax exemption from the government for hosting tournaments organised by the global body. However, India's tax rules don't allow for such exemptions; putting BCCI in a fix. For hosting the 2016 T20 World Cup, the board incurred a loss of a whopping USD 23.5 million (INR 193 crore). Thus, the BCCI is working hard to bring down the tax surcharge percentage to 10.92 per cent, as opposed to the currently demanded 21.84 per cent. ALSO READ | T20 WC: BCCI names Mohammed Shami as Jasprit Bumrah's replacement, Siraj-Shardul added in reserves "The next ICC major men's event, which is the ICC Cricket World Cup 2023, is scheduled to be held in India in the month of October & November in 2023. The BCCI was obligated to deliver a tax exemption or a tax solution to the ICC for this event, latest by April 2022," carried out a report which was circulated among state units prior to the BCCI's upcoming Annual General Meeting (AGM), on October 18 in Mumbai. "This time line was further extended by the ICC Board till 31st May 2022. At the start of this financial year, the BCCI had advised the ICC that in line with the tax order for the 2016 event, it was expected that a 10% (excluding surcharges) tax order could be obtained as an interim measure for the 2023 event within the required time frame. "The ICC has now received a 20% (excluding surcharges) tax order for its broadcast revenue for the 2023 event from the tax authorities in India." If the BCCI manages to reduce the tax surcharge, to 10.92 percent, it will still bear a heavy loss; around INR 430 crore (USD 52.23 million). ALSO READ | 'I will...' - Outgoing BCCI chief Sourav Ganguly breaks silence with Roger Binny all set to succeed him "The BCCI is currently working with the Ministry of Finance, Government of India and have represented against this 20% (excluding surcharges) tax order at the very highest level and are hopeful that a 10% (excluding surcharges) tax order would be forthcoming shortly. "It is to be noted that any tax cost incurred by the ICC for the 2023 event in India will be adjusted with the BCCI's share of revenue from the ICC," the report further asserted.

BCCI could lose BIG if central govt sticks to decision of increasing tax outlay for 2023 ODI World Cup

New Zealand’s government on Tuesday proposed taxing the greenhouse gasses that farm animals make from burping and peeing as part of a plan to tackle climate change. But farmers quickly condemned the plan.

World Business Watch: New Zealand proposes taxing cow burps, angering farmers

The tax cuts announced in the mini-budget by British finance minister Kwasi Kwarteng created a huge uproar among the public with the economy also taking a massive nosedive. Following the announcement, the pound fell to its lowest against the United States dollar and the move also earned a lot of criticism from financial institutions around the world including the International Monetary Fund.&nbsp;

While the steps were withdrawn, the&nbsp;Institute for Fiscal Studies believes that the tax cuts and&nbsp;borrowing triggered by the announcement can end up costing the UK government more than $66 billion.&nbsp;

Also read |&nbsp;<a href="https://www.wionews.com/world/israel-and-lebanon-reach-historic-agreement-on-maritime-border-dispute-524371">Israel and Lebanon reach 'historic agreement' on maritime border</a>

According to the report published by the IFS, the United Kingdom may not match the predicted growth rate of 2.5 per cent and the deficit will cost around $66 billion by the year 2026. However, they included Brexit and the global financial crisis as other reasons behind the impending danger to the economy.&nbsp;

The announcement added to the concerns regarding the British economy as a deficit of $66 billion can virtually wipe out any progress made in the next few years. In that case, it will directly increase the national debt and if the trend continues, inflation can get out of control in that period.&nbsp;

Also read |&nbsp;<a href="https://www.wionews.com/photos/japan-reopens-for-tourists-after-two-and-a-half-years-of-covid-19-restrictions-524437" hreflang="en">Japan reopens for tourists after two-and-a-half years of Covid restrictions</a>

Although things seem quite grim in the report, IFS director Paul Johnson said that the situation can be controlled by introducing spending cuts and creating a capital vacuum temporarily in the public sector.&nbsp;

Both Kwarteng and newly elected Prime Minister Liz Truss have said that the tax cuts are a non-negotiable policy decision for them, and they intend to implement them in the future.&nbsp;

<iframe allow="accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="350" loading="”lazy”" src="https://www.wionews.com/live-tv/embed?autoplay=1&amp;mute=1" width="100%"></iframe>

The tax cuts announced in the mini-budget by British finance minister Kwasi Kwarteng created a huge uproar among the public with the economy also taking a massive nosedive.

The tax cuts announced in the mini-budget by British finance minister Kwasi Kwarteng created a huge uproar among the public with the economy also taking a massive nosedive. Following the announcement, the pound fell to its lowest against the United States dollar and the move also earned a lot of criticism from financial institutions around the world including the International Monetary Fund. While the steps were withdrawn, the Institute for Fiscal Studies believes that the tax cuts and borrowing triggered by the announcement can end up costing the UK government more than $66 billion. Also read | Israel and Lebanon reach 'historic agreement' on maritime border According to the report published by the IFS, the United Kingdom may not match the predicted growth rate of 2.5 per cent and the deficit will cost around $66 billion by the year 2026. However, they included Brexit and the global financial crisis as other reasons behind the impending danger to the economy. The announcement added to the concerns regarding the British economy as a deficit of $66 billion can virtually wipe out any progress made in the next few years. In that case, it will directly increase the national debt and if the trend continues, inflation can get out of control in that period. Also read | Japan reopens for tourists after two-and-a-half years of Covid restrictions Although things seem quite grim in the report, IFS director Paul Johnson said that the situation can be controlled by introducing spending cuts and creating a capital vacuum temporarily in the public sector. Both Kwarteng and newly elected Prime Minister Liz Truss have said that the tax cuts are a non-negotiable policy decision for them, and they intend to implement them in the future.

UK ‘will need $66bn spending cuts’ to bounce back from unfunded tax cuts

New Zealand is all set to be the first country that will require farmers to pay for their agricultural gas emissions, including those released via cattle burps.

On Tuesday (October 11), Prime Minister Jacinda Ardern announced the scheme. As per the scheme, farmers will have to pay for their gas emissions including the methane released by cows and nitrous oxide emitted through livestock urine.

The scheme includes putting taxes on both methane and nitrous oxide are majorly emitted through fertiliser-rich urine that contributes to nearly half of the country's gas emissions, The Guardian reported. &nbsp;&nbsp;

<a href="https://www.wionews.com/world/study-shows-methane-as-much-more-sensitive-to-global-heating-than-previously-thought-494753">Also read |&nbsp;Study shows methane is much more sensitive to global heating than previously thought</a>

Now you must be wondering why cattle? Well, it's because the emissions released by the digestive system of nearly 6.9 million cows in New Zealand&nbsp;are amongst the biggest environmental problems.&nbsp;

Watch |&nbsp;Gravitas: New Zealand to tax farmers for burpy cattle

<div class="videoWrapper trancodeVideo"><iframe allowfullscreen="" autoplay="1" class="includeVideo" frameborder="0" height="350" src="https://www.wionews.com/videos/gravitas-new-zealand-to-tax-farmers-for-burpy-cattle-486724/embed" style="width:100%;max-width:560px;" width="560"></iframe></div>

The prime minister in her announcement said that this scheme will not only benefit the country's export but will also help it achieve the country's 2030 methane reduction target.

<a href="https://www.wionews.com/world/climate-change-biggest-methane-gas-leak-occurred-at-russian-coalmine-say-reports-488305">Also read |&nbsp;Climate change: Biggest methane gas leak occurred at Russian coalmine, say reports</a>

Ardern said, "The proposal, as it stands, means New Zealand’s farmers are set to be the first in the world to reduce agricultural emissions," The Guardian reported.

Under the proposed scheme, by 2025 farmers who meet the requirements will have to pay a levy to the government on advice from the Climate Change Commission. However, the government rejected the idea of farmers deciding on the price.

The revenue will then be used in development including infrastructure and technology. The document is set to be signed by the cabinet by the year 2030.&nbsp;

(With inputs from agencies)

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New Zealand is all set to be the first country that will require farmers to pay for their agricultural gas emissions, including those released via cattle burps. On Tuesday (October 11), Prime Minister Jacinda Ardern announced the scheme.

New Zealand is all set to be the first country that will require farmers to pay for their agricultural gas emissions, including those released via cattle burps. On Tuesday (October 11), Prime Minister Jacinda Ardern announced the scheme. As per the scheme, farmers will have to pay for their gas emissions including the methane released by cows and nitrous oxide emitted through livestock urine. The scheme includes putting taxes on both methane and nitrous oxide are majorly emitted through fertiliser-rich urine that contributes to nearly half of the country's gas emissions, The Guardian reported. Also read | Study shows methane is much more sensitive to global heating than previously thought Now you must be wondering why cattle? Well, it's because the emissions released by the digestive system of nearly 6.9 million cows in New Zealand are amongst the biggest environmental problems. Watch | Gravitas: New Zealand to tax farmers for burpy cattle The prime minister in her announcement said that this scheme will not only benefit the country's export but will also help it achieve the country's 2030 methane reduction target. Also read | Climate change: Biggest methane gas leak occurred at Russian coalmine, say reports Ardern said, "The proposal, as it stands, means New Zealand’s farmers are set to be the first in the world to reduce agricultural emissions," The Guardian reported. Under the proposed scheme, by 2025 farmers who meet the requirements will have to pay a levy to the government on advice from the Climate Change Commission. However, the government rejected the idea of farmers deciding on the price. The revenue will then be used in development including infrastructure and technology. The document is set to be signed by the cabinet by the year 2030. (With inputs from agencies) WATCH WION LIVE HERE

New Zealand set to be first nation to tax farmers for cattle burps, urine emissions

Gross collection of tax on corporate and individual earnings jumped nearly 24 per cent so far in the current fiscal year that started on April 1, the tax department said on Sunday.

The gross collection of taxes on corporate earnings rose 16.74 per cent during April 1 to October 8, while personal income tax collection jumped 32.30 per cent, the tax department said in a statement.

Direct tax collection came at Rs 8.98 trillion between April 1 to October 8, 2022, 23.8 per cent higher than the gross collection in the corresponding period a year ago.

Tax on corporate and individual income makes up for direct taxes.

After adjusting refunds, direct tax collection stood at Rs 7.45 trillion, 16.3 per cent higher than the net collection for the corresponding period a year ago, the statement said.

"This collection is 52.46 per cent of the total Budget Estimates of Direct Taxes for FY 2022-23," it added.

Tax collection is an indicator of economic activity in any country. But in India, the robust tax collection was despite a slowdown in industrial production and exports.

Some analysts believe that the economic growth has lost momentum but corporate profits are keeping the engine running.

The Reserve Bank of India (RBI) last month cut its production of India's GDP growth in the current fiscal to 7 per cent from 7.2 per cent previously estimated.

Other rating agencies too have lowered the economic growth projection for India citing impact of the geopolitical tensions, tightening global financial conditions and slowing external demand.

"So far as the growth rate for corporate income tax (CIT) and personal income tax (PIT) in terms of gross revenue collection is concerned, the growth rate for CIT is 16.73 per cent, while that for PIT (including STT) is 32.30 per cent," the Central Board of Direct Taxes (CBDT) said.

After adjustment of refunds, the net growth in CIT collection was 16.29 per cent and that in PIT collection was 17.35 per cent (PIT only)/16.25 per cent (PIT including STT).

Refunds amounting to Rs 1.53 lakh crore have been issued during the period April 1, 2022 to October 8, 2022, 81 per cent higher than the refunds issued during the same period in the preceding year, it added.

Merchandise exports have lost on the momentum of last year's surge and shrunk by 3.5 per cent in September. Trade deficit has nearly doubled in the first six months. IIP growth was subdued at 2.4 per cent in July while 'core sector' hit a nine-month low of 3.3 per cent in August.

Gross collection of tax on corporate and individual earnings jumped nearly 24 per cent so far in the current fiscal year that started on April 1, the tax department said on Sunday.

Gross collection of tax on corporate and individual earnings jumped nearly 24 per cent so far in the current fiscal year that started on April 1, the tax department said on Sunday. The gross collection of taxes on corporate earnings rose 16.74 per cent during April 1 to October 8, while personal income tax collection jumped 32.30 per cent, the tax department said in a statement. Direct tax collection came at Rs 8.98 trillion between April 1 to October 8, 2022, 23.8 per cent higher than the gross collection in the corresponding period a year ago. Tax on corporate and individual income makes up for direct taxes. After adjusting refunds, direct tax collection stood at Rs 7.45 trillion, 16.3 per cent higher than the net collection for the corresponding period a year ago, the statement said. "This collection is 52.46 per cent of the total Budget Estimates of Direct Taxes for FY 2022-23," it added. Tax collection is an indicator of economic activity in any country. But in India, the robust tax collection was despite a slowdown in industrial production and exports. Some analysts believe that the economic growth has lost momentum but corporate profits are keeping the engine running. The Reserve Bank of India (RBI) last month cut its production of India's GDP growth in the current fiscal to 7 per cent from 7.2 per cent previously estimated. Other rating agencies too have lowered the economic growth projection for India citing impact of the geopolitical tensions, tightening global financial conditions and slowing external demand. "So far as the growth rate for corporate income tax (CIT) and personal income tax (PIT) in terms of gross revenue collection is concerned, the growth rate for CIT is 16.73 per cent, while that for PIT (including STT) is 32.30 per cent," the Central Board of Direct Taxes (CBDT) said. After adjustment of refunds, the net growth in CIT collection was 16.29 per cent and that in PIT collection was 17.35 per cent (PIT only)/16.25 per cent (PIT including STT). Refunds amounting to Rs 1.53 lakh crore have been issued during the period April 1, 2022 to October 8, 2022, 81 per cent higher than the refunds issued during the same period in the preceding year, it added. Merchandise exports have lost on the momentum of last year's surge and shrunk by 3.5 per cent in September. Trade deficit has nearly doubled in the first six months. IIP growth was subdued at 2.4 per cent in July while 'core sector' hit a nine-month low of 3.3 per cent in August.

Direct tax collection jumps 24% in first half of FY22, earnings reach Rs 7.45 trillion

Pop sensation Shakira has been ordered to stand trial over charges of tax evasion between 2012 and 2014. The singer has rejected the allegations and plans to prove her innocence in court. Priyanka Sharma gets you a report.

Gravitas: Shakira to stand trial for tax evasion

The leader of the UK’s main opposition party Keir Starmer vowed to reverse a tax cut for top earners announced by the Conservative government as the nation heads for recession.

UK: Labour leader Keir Starmer plans to cancel tax cut for people who earn over $160,000

Liz Truss's proposals for a freeze on energy prices and significant tax cuts will provide twice as much financial assistance with living expenses to Britain's wealthiest households as to its poorest households, as per a top think tank.

The Resolution Foundation claimed that when combined with the tax cuts promised during her leadership campaign, the prime minister's energy plan, which was unveiled only hours before word of the Queen's passing last week, would come with a "colossal" price tag for taxpayers.&nbsp;

According to the report, the government's "energy price guarantee" and national insurance cuts would provide the richest tenth of UK households with an average of £4,700 in support, compared to just £2,200 for the typical home in the bottom tenth.

The intervention comes at a time when the specifics of the new prime minister's plan to assist suffering households are still unknown because she decided to wait until a mini-budget, which is anticipated to take place next week, to release the costs associated with her proposal.&nbsp;

The Resolution Foundation estimated that the idea to cap a two-year increase in the average home energy bill to £2,500 would cost about £120 billion. It cautioned that Truss's strategy to avoid a new windfall tax on energy producers would mean passing along the expense to taxpayers, with as little as £1 in every £12 spent on energy assistance for households being recovered directly from higher taxes on energy corporations.

The energy price guarantee, financial help for all households, and additional one-time payments for those receiving means-tested benefits, according to the think tank, will bring the average level of support for homes to £2,000 this year. When taken as a whole, it claimed that both wealthy and poor households received an equivalent amount of help.&nbsp;

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However, measures to roll back national insurance tax rises put in place in April will help wealthier people much more next year. It was stated that this will "skew support towards the very highest-income households," in addition to the general support provided by the energy price freeze, which will benefit households with the highest gas and electricity bills.

The chief executive of the Resolution Foundation, Torsten Bell, stated: "Last week, the prime minister announced a simply colossal&nbsp;energy support package to avert a catastrophe in living standards this winter.&nbsp;

With prior announcements, the help totals more than £2,200 for each home in Britain. It was a large, courageous move. Families should yet prepare for a challenging winter, with wealthy households receiving twice as much cost-of-living assistance as less fortunate households the next year.

(with inputs from agencies)

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Liz Truss's proposals for a freeze on energy prices and significant tax cuts will provide twice as much financial assistance with living expenses to Britain's wealthiest households as to its poorest households, as per a top think tank.

Liz Truss's proposals for a freeze on energy prices and significant tax cuts will provide twice as much financial assistance with living expenses to Britain's wealthiest households as to its poorest households, as per a top think tank. The Resolution Foundation claimed that when combined with the tax cuts promised during her leadership campaign, the prime minister's energy plan, which was unveiled only hours before word of the Queen's passing last week, would come with a "colossal" price tag for taxpayers. According to the report, the government's "energy price guarantee" and national insurance cuts would provide the richest tenth of UK households with an average of £4,700 in support, compared to just £2,200 for the typical home in the bottom tenth. The intervention comes at a time when the specifics of the new prime minister's plan to assist suffering households are still unknown because she decided to wait until a mini-budget, which is anticipated to take place next week, to release the costs associated with her proposal. The Resolution Foundation estimated that the idea to cap a two-year increase in the average home energy bill to £2,500 would cost about £120 billion. It cautioned that Truss's strategy to avoid a new windfall tax on energy producers would mean passing along the expense to taxpayers, with as little as £1 in every £12 spent on energy assistance for households being recovered directly from higher taxes on energy corporations. The energy price guarantee, financial help for all households, and additional one-time payments for those receiving means-tested benefits, according to the think tank, will bring the average level of support for homes to £2,000 this year. When taken as a whole, it claimed that both wealthy and poor households received an equivalent amount of help. Also Read: Before and after images show dramatic expansion of Bahrain by building land on sea: 1987 vs 2022 However, measures to roll back national insurance tax rises put in place in April will help wealthier people much more next year. It was stated that this will "skew support towards the very highest-income households," in addition to the general support provided by the energy price freeze, which will benefit households with the highest gas and electricity bills. The chief executive of the Resolution Foundation, Torsten Bell, stated: "Last week, the prime minister announced a simply colossal energy support package to avert a catastrophe in living standards this winter. With prior announcements, the help totals more than £2,200 for each home in Britain. It was a large, courageous move. Families should yet prepare for a challenging winter, with wealthy households receiving twice as much cost-of-living assistance as less fortunate households the next year. (with inputs from agencies)

UK energy price freeze and tax cuts will give wealthiest families 'twice as much support’

According to Union Finance Minister Nirmala Sitharaman on Tuesday, the government has sent letters to Oppo, Vivo India, and Xiaomi in connection with incidents of potential tax fraud. The cellphone business Oppo has received notification from the Department of Revenue Intelligence (DRI) regarding a total of Rs 4.38 lakh million in customs duties. Xiaomi has received three show-cause letters, and their estimated duty due is Rs 6.5 thousand million. And the third firm is Vivo India, for which a demand notice for Rs 22 billion&nbsp;was also issued, and against which they made a voluntary deposit of Rs 600 million.

Additionally, according to Sitharaman, the ED is looking into 18 Vivo-founded firms where a voluntary deposit of Rs 6.2 lakh million&nbsp;has been made. Sushil Modi, a member of parliament, stated that the department had informed him that Vivo Mobile India had sent approximately Rs. 6.2 lakh million to China and its controlled territories. He then asked what other Chinese companies had sent money to China and its controlled territories and what the amounts involved were. In response to a different question, the minister stated that there are numerous telecom businesses under DRI inquiry.

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In response to a BJD member's query on shady loan applications, she stated that the member had expressed "a legitimate concern." According to her, from the perspective of loan-related difficulties, applications are being misused, especially those coming from one specific country, and as a result, many of our residents are harassed and have money extorted from them. Although it has been correctly noted that these Apps are being downloaded in, say, one Odisha, there are other States about which there are reports. MeitY, Corporate Affairs, the Ministry of Finance, and a few other Departments, among others, are all continuously debating and trying to make sure that action is implemented.

(with inputs from agencies)

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According to Union Finance Minister Nirmala Sitharaman on Tuesday, the government has sent letters to Oppo, Vivo India, and Xiaomi in connection with incidents of potential tax fraud.

According to Union Finance Minister Nirmala Sitharaman on Tuesday, the government has sent letters to Oppo, Vivo India, and Xiaomi in connection with incidents of potential tax fraud. The cellphone business Oppo has received notification from the Department of Revenue Intelligence (DRI) regarding a total of Rs 4.38 lakh million in customs duties. Xiaomi has received three show-cause letters, and their estimated duty due is Rs 6.5 thousand million. And the third firm is Vivo India, for which a demand notice for Rs 22 billion was also issued, and against which they made a voluntary deposit of Rs 600 million. Additionally, according to Sitharaman, the ED is looking into 18 Vivo-founded firms where a voluntary deposit of Rs 6.2 lakh million has been made. Sushil Modi, a member of parliament, stated that the department had informed him that Vivo Mobile India had sent approximately Rs. 6.2 lakh million to China and its controlled territories. He then asked what other Chinese companies had sent money to China and its controlled territories and what the amounts involved were. In response to a different question, the minister stated that there are numerous telecom businesses under DRI inquiry. Also Read: US sanctions Russian oligarchs and Putin's 'girlfriend' for involvement in Ukraine war In response to a BJD member's query on shady loan applications, she stated that the member had expressed "a legitimate concern." According to her, from the perspective of loan-related difficulties, applications are being misused, especially those coming from one specific country, and as a result, many of our residents are harassed and have money extorted from them. Although it has been correctly noted that these Apps are being downloaded in, say, one Odisha, there are other States about which there are reports. MeitY, Corporate Affairs, the Ministry of Finance, and a few other Departments, among others, are all continuously debating and trying to make sure that action is implemented. (with inputs from agencies)

India: Tax evasion notices issued to three Chinese mobile companies, ED investigating

The US Senate has passed Democrats' $750 billion health care, tax and climate bill, in a significant victory for President Joe Biden and his party.

US Senate passes Democrats' sweeping climate, health and tax bill

Pakistan's cash-strapped government has decided to impose an additional PKR 30 billion as taxes as it scrambles to arrange PKR 100 billion emergency funding to avoid international default on oil and gas payments.

WION Dispatch: Cash-strapped Pakistan government imposes PKR 30 bn as additional taxes

In response to the Palestinian Authority's (PA) funding of militants, Israeli ministers retained the partial tax income freeze in place on Sunday, an official said. According to legislation from 2018, the 600 million shekels ($176 million) withheld would equal the amount the PA gave to the attackers' families in 2017.

Israel transfers the roughly $190 million a month it receives in customs taxes from commodities passing through Israeli ports on their way to Palestinian marketplaces to the PA. The Palestinians protested the law's implementation in 2019 by delaying receiving all aid for eight months. Israel claims that the money given to the attackers' families encourages more assaults.

For its part, the PA claims that the payments constitute welfare for families who have lost their primary earner. The so-called "security cabinet" of Israel's ministers gave their approval for the freeze to remain in place, an Israeli official told AFP.&nbsp;

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Hussein Al Sheikh, a top PA official, called Israel's action "money piracy" in response to the action. The "daily escalation in our cities, villages, and camps" will be exacerbated by Israel's "strategy of the financial blockade and steal(-ing) our money," he tweeted.

(with inputs from agencies) 
&nbsp;

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In response to the Palestinian Authority's (PA) funding of militants, Israeli ministers retained the partial tax income freeze in place on Sunday, an official said.

In response to the Palestinian Authority's (PA) funding of militants, Israeli ministers retained the partial tax income freeze in place on Sunday, an official said. According to legislation from 2018, the 600 million shekels ($176 million) withheld would equal the amount the PA gave to the attackers' families in 2017. Israel transfers the roughly $190 million a month it receives in customs taxes from commodities passing through Israeli ports on their way to Palestinian marketplaces to the PA. The Palestinians protested the law's implementation in 2019 by delaying receiving all aid for eight months. Israel claims that the money given to the attackers' families encourages more assaults. For its part, the PA claims that the payments constitute welfare for families who have lost their primary earner. The so-called "security cabinet" of Israel's ministers gave their approval for the freeze to remain in place, an Israeli official told AFP. Also Read: James webb telescope's deepest image of universe dress selling at shocking price Hussein Al Sheikh, a top PA official, called Israel's action "money piracy" in response to the action. The "daily escalation in our cities, villages, and camps" will be exacerbated by Israel's "strategy of the financial blockade and steal(-ing) our money," he tweeted. (with inputs from agencies)

Israel placed partial freeze on tax revenue to Palestine over militant support

Bhutan is all set to welcome foreign tourists after two years of Covid hiatus. But travellers will have to shell out $200 per day, up from $60 in the last three decades. Is Bhutan using its tourism potential to shore up its foreign exchange reserves? Mariam Wardak tells you.

South Asia Diary | Bhutan increasing daily tax on tourists

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