UK Prime Minister Boris Johnson is set to announce a tax raise to pay for the rising cost of caring for the elderly and disabled people.

UK to announce tax raise to provide subsidised care for elderly, disabled

Former US president <a href="https://www.wionews.com/topics/donald-trump">Donald Trump</a> moved Wednesday to block the Treasury from handing over years of his tax records to a congressional committee, which some believe could expose abuse of tax laws.

In a Washington court filing Trump's lawyers objected to a Justice Department order last week that the Treasury, after stalling for years, needed to provide the House Ways and Means Committee with six years of records that Trump has long refused to make public.

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The lawyers argue that while the committee claims to be investigating how the Internal Revenue Service handles cases like Trump's -- the former president said for years that his taxes were under audit -- in fact the request is driven by politics.

The aim of the Democratic-controlled panel, the filing says, "is to expose the private tax information of one individual -- President Trump -- for political gain."

"The requests single out President Trump because he is a Republican and a political opponent," it adds.

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"They were made to retaliate against President Trump because of his policy positions, his political beliefs and his protected speech, including the positions he took during the 2016 and 2020 campaigns," it said.

The US Justice Department ordered the Treasury on Friday to hand Trump's tax records to the committee, which subpoenaed them in 2019.

Committee chairman Richard Neal had argued that his members needed the returns to understand how the IRS conducts its presidential audits and whether Trump had exerted "undue influence" over the agency.

Trump claimed for years that he could not make the records public because they were under audit, and when he was president, the Republican-controlled Treasury and Justice Department sided with him on the issue.

Both departments are now led by Democrats, and the Justice Department argued last week that the committee had a legitimate interest in seeing Trump's records.

Some suspect that the records would show the billionaire property tycoon manipulated the tax code to pay very little over a long period.

Trump is under investigation in New York for tax fraud and other wrongdoings relating to the financial activities of his Trump Organization.

In February the Supreme Court declined to block a subpoena of Trump's taxes by a New York prosecutors.

All US presidents since Richard Nixon, who took office in 1969, have made public their tax and asset records.

Former US president Donald Trump moved Wednesday to block the Treasury from handing over years of his tax records to a congressional committee, which some believe could expose abuse of tax laws.

Former US president Donald Trump moved Wednesday to block the Treasury from handing over years of his tax records to a congressional committee, which some believe could expose abuse of tax laws. In a Washington court filing Trump's lawyers objected to a Justice Department order last week that the Treasury, after stalling for years, needed to provide the House Ways and Means Committee with six years of records that Trump has long refused to make public. Also read | Former US president Donald Trump's fundraising initiatives raise $100 million The lawyers argue that while the committee claims to be investigating how the Internal Revenue Service handles cases like Trump's -- the former president said for years that his taxes were under audit -- in fact the request is driven by politics. The aim of the Democratic-controlled panel, the filing says, "is to expose the private tax information of one individual -- President Trump -- for political gain." "The requests single out President Trump because he is a Republican and a political opponent," it adds. Also read | US DoJ orders IRS to hand over Trump’s tax returns to a House panel "They were made to retaliate against President Trump because of his policy positions, his political beliefs and his protected speech, including the positions he took during the 2016 and 2020 campaigns," it said. The US Justice Department ordered the Treasury on Friday to hand Trump's tax records to the committee, which subpoenaed them in 2019. Committee chairman Richard Neal had argued that his members needed the returns to understand how the IRS conducts its presidential audits and whether Trump had exerted "undue influence" over the agency. Trump claimed for years that he could not make the records public because they were under audit, and when he was president, the Republican-controlled Treasury and Justice Department sided with him on the issue. Both departments are now led by Democrats, and the Justice Department argued last week that the committee had a legitimate interest in seeing Trump's records. Some suspect that the records would show the billionaire property tycoon manipulated the tax code to pay very little over a long period. Trump is under investigation in New York for tax fraud and other wrongdoings relating to the financial activities of his Trump Organization. In February the Supreme Court declined to block a subpoena of Trump's taxes by a New York prosecutors. All US presidents since Richard Nixon, who took office in 1969, have made public their tax and asset records.

Trump moves to block Congress from getting his taxes

In a bid to facilitate a broader global tax deal, the European Union has agreed to delay a corporate tax plan for the bloc following pressure from the US administration, but EU member Ireland reiterated its criticisms of the wider reform.

World Business Watch: After US push, EU pauses tax plan but Ireland sticks to its guns

US Treasury Secretary Janet Yellen on Sunday urged the European Union to reconsider its plans for a "discriminatory" digital tax, saying the new global reform deal should make it redundant.

Meeting in Venice, G20 ministers, including Yellen, &nbsp;on Saturday endorsed a plan agreed by 132 countries to overhaul the way multinational companies, including US digital giants, are taxed.

"The agreement that we've reached in the OECD framework discussion calls on countries to agree to dismantle existing digital taxes that the United States has regarded as discriminatory and to refrain from erecting similar measures in the future," Yellen told reporters.

"So it's really up to the European Commission and the members of the European Union to decide how to proceed. But those countries have agreed to avoid putting in place in the future and to dismantle taxes that are discriminatory against US firms."

Yellen is due in Brussels on Monday for talks with Eurozone finance ministers.

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Negotiations at the Organisation for Economic Cooperation and Development (OECD) secured a historic agreement on July 1 for a global minimum corporate tax rate of at least 15 per cent, and to allow nations to tax a share of the profits of the world's biggest companies regardless of where they are headquartered.

In a diplomatic document seen by AFP late last month, Washington warned the EU that its plans for a bloc-wide digital levy, which it sees a discriminating against US technology firms, risked "entirely derailing" the negotiations at the OECD.

Three EU countries -- including Ireland, which has become a European base for a raft of US companies thanks to low tax rates -- have yet to sign up for the OECD agreement.

Yellen said she would seek to persuade them.

"I will use the opportunity to try to explain why we think that the few remaining EU countries that have not endorsed the inclusive framework, why we think it's in the world's interest, in their interests to be part of the agreement," she said.

"In some cases, there are very specific technical issues that it may indeed be possible to address and where that's possible I know all of us will be working in the common months to do that and to bring those countries on board."

The European Commission has insisted its new levy plan, due to be unveiled later this month, would conform with whatever is agreed at the OECD and would hit thousands of companies, including European ones.

Money raised from the digital tax is intended to help pay for the bloc's 750-billion-euro post-pandemic recovery plan.

US Treasury Secretary Janet Yellen on Sunday urged the European Union to reconsider its plans for a "discriminatory" digital tax, saying the new global reform deal should make it redundant.

US Treasury Secretary Janet Yellen on Sunday urged the European Union to reconsider its plans for a "discriminatory" digital tax, saying the new global reform deal should make it redundant. Meeting in Venice, G20 ministers, including Yellen, on Saturday endorsed a plan agreed by 132 countries to overhaul the way multinational companies, including US digital giants, are taxed. "The agreement that we've reached in the OECD framework discussion calls on countries to agree to dismantle existing digital taxes that the United States has regarded as discriminatory and to refrain from erecting similar measures in the future," Yellen told reporters. "So it's really up to the European Commission and the members of the European Union to decide how to proceed. But those countries have agreed to avoid putting in place in the future and to dismantle taxes that are discriminatory against US firms." Yellen is due in Brussels on Monday for talks with Eurozone finance ministers. Also read | 17 years after founding Virgin Galactic, Branson bound for space Negotiations at the Organisation for Economic Cooperation and Development (OECD) secured a historic agreement on July 1 for a global minimum corporate tax rate of at least 15 per cent, and to allow nations to tax a share of the profits of the world's biggest companies regardless of where they are headquartered. In a diplomatic document seen by AFP late last month, Washington warned the EU that its plans for a bloc-wide digital levy, which it sees a discriminating against US technology firms, risked "entirely derailing" the negotiations at the OECD. Three EU countries -- including Ireland, which has become a European base for a raft of US companies thanks to low tax rates -- have yet to sign up for the OECD agreement. Yellen said she would seek to persuade them. "I will use the opportunity to try to explain why we think that the few remaining EU countries that have not endorsed the inclusive framework, why we think it's in the world's interest, in their interests to be part of the agreement," she said. "In some cases, there are very specific technical issues that it may indeed be possible to address and where that's possible I know all of us will be working in the common months to do that and to bring those countries on board." The European Commission has insisted its new levy plan, due to be unveiled later this month, would conform with whatever is agreed at the OECD and would hit thousands of companies, including European ones. Money raised from the digital tax is intended to help pay for the bloc's 750-billion-euro post-pandemic recovery plan.

Yellen urges EU to reconsider its digital tax plan

Finance&nbsp;ministers&nbsp;from the&nbsp;G20&nbsp;richest nations are expected to give the&nbsp;green&nbsp;light&nbsp;Saturday to a historic deal to&nbsp;tax&nbsp;multinational companies more fairly.

The framework for&nbsp;reform, including a minimum&nbsp;global&nbsp;corporation&nbsp;tax&nbsp;rate of 15 per cent, was agreed upon by 131 countries earlier this month and could be in place by 2023.

Hailed by those involved as "historic", it aims to stop the race to the bottom as countries compete to offer the lowest&nbsp;tax&nbsp;rates to attract investment, with many multinational companies as a result paying derisory levels of&nbsp;tax.

"This minimum&nbsp;tax&nbsp;on companies must be ambitious," French Finance&nbsp;Minister&nbsp;Bruno Le Maire told AFP on Friday, adding that the meeting of the&nbsp;G20&nbsp;-- the 19 richest countries and the European Union -- represented a unique opportunity.

The countries representing 85 per cent of&nbsp;global&nbsp;wealth were seeking a deal "for the 21st century, which will allow for the fair taxation of digital giants which largely escape taxation, which nobody can accept", he said.

'On the way'

Final agreement on the minimum rate is not expected until the run-up to the&nbsp;G20&nbsp;leaders'&nbsp;summit&nbsp;in Rome in October.

But the Venice talks are an opportunity to thrash out further details and exert pressure on those who have not yet signed up to the deal, struck under the auspices of the Organisation for Economic Cooperation and Development (OECD).

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The United States, France and Germany are among several countries pressing for a higher rate, while aid agencies including Oxfam also argue that 15 per cent is too low.

But with some nations opposed even to this -- EU member Ireland lured Apple and Google to Dublin with its low&nbsp;tax&nbsp;rates -- there is not likely to be any change to the rate.

"We are really now on the way" to a deal that "will be finalised shortly", German Finance&nbsp;Minister&nbsp;Olaf Scholz told CNBC television.

The minimum rate is expected to affect fewer than 10,000 major companies, those with an annual turnover of more than 750 million euros.

It is one of two so-called pillars of&nbsp;global&nbsp;tax&nbsp;reform&nbsp;that have been under negotiation for years, and have been given new impetus under US President Joe Biden.

The other would give countries a share of the taxes on profits earned there, and would initially apply to the top 100 or so companies.

It is targeted at technology giants such as Google, Amazon, Facebook and Apple, but could also affect companies like energy giant BP, which is present in 85 countries.

According to a draft obtained by AFP of the final statement, which is still being discussed, the&nbsp;G20&nbsp;ministers&nbsp;will "endorse" the OECD's "historic agreement on a more stable and fairer international&nbsp;tax&nbsp;architecture".

US Treasury Secretary Janet Yellen, European Central Bank (ECB) chief Christine Lagarde and Russian Finance&nbsp;Minister&nbsp;Anton Siluanov were among those at the two-day meeting in Venice, while China and India attended virtually.

Security is tight, with the Arsenal area of the lagoon city closed off to locals and tourists, although hundreds of protesters are expected in Venice during the afternoon.

Climate change is also on the agenda, with Yellen on Friday calling on her&nbsp;G20&nbsp;counterparts to act with greater urgency to decarbonise the&nbsp;global&nbsp;economy.

The&nbsp;G20&nbsp;ministers&nbsp;and central bank chiefs are also expected to call for more support for countries hard-hit by the coronavirus pandemic.

International Monetary Fund chief Kristalina Georgieva this week urged the richest countries to step up efforts to help the poorest nations withstand the "devastating double-blow" of Covid-19 and the resulting economic damage.

Finance ministers from the G20 richest nations are expected to give the green light Saturday to a historic deal to tax multinational companies more fairly. The framework for reform, including a minimum global corporation tax rate of 15 per cent, was agreed upon by 131 countries earlier this month and could be in place by 2023.

Finance ministers from the G20 richest nations are expected to give the green light Saturday to a historic deal to tax multinational companies more fairly. The framework for reform, including a minimum global corporation tax rate of 15 per cent, was agreed upon by 131 countries earlier this month and could be in place by 2023. Hailed by those involved as "historic", it aims to stop the race to the bottom as countries compete to offer the lowest tax rates to attract investment, with many multinational companies as a result paying derisory levels of tax. "This minimum tax on companies must be ambitious," French Finance Minister Bruno Le Maire told AFP on Friday, adding that the meeting of the G20 -- the 19 richest countries and the European Union -- represented a unique opportunity. The countries representing 85 per cent of global wealth were seeking a deal "for the 21st century, which will allow for the fair taxation of digital giants which largely escape taxation, which nobody can accept", he said. 'On the way' Final agreement on the minimum rate is not expected until the run-up to the G20 leaders' summit in Rome in October. But the Venice talks are an opportunity to thrash out further details and exert pressure on those who have not yet signed up to the deal, struck under the auspices of the Organisation for Economic Cooperation and Development (OECD). Also read | G20 summit in India postponed for one year, now to be held in 2023 The United States, France and Germany are among several countries pressing for a higher rate, while aid agencies including Oxfam also argue that 15 per cent is too low. But with some nations opposed even to this -- EU member Ireland lured Apple and Google to Dublin with its low tax rates -- there is not likely to be any change to the rate. "We are really now on the way" to a deal that "will be finalised shortly", German Finance Minister Olaf Scholz told CNBC television. The minimum rate is expected to affect fewer than 10,000 major companies, those with an annual turnover of more than 750 million euros. It is one of two so-called pillars of global tax reform that have been under negotiation for years, and have been given new impetus under US President Joe Biden. The other would give countries a share of the taxes on profits earned there, and would initially apply to the top 100 or so companies. It is targeted at technology giants such as Google, Amazon, Facebook and Apple, but could also affect companies like energy giant BP, which is present in 85 countries. According to a draft obtained by AFP of the final statement, which is still being discussed, the G20 ministers will "endorse" the OECD's "historic agreement on a more stable and fairer international tax architecture". US Treasury Secretary Janet Yellen, European Central Bank (ECB) chief Christine Lagarde and Russian Finance Minister Anton Siluanov were among those at the two-day meeting in Venice, while China and India attended virtually. Security is tight, with the Arsenal area of the lagoon city closed off to locals and tourists, although hundreds of protesters are expected in Venice during the afternoon. Climate change is also on the agenda, with Yellen on Friday calling on her G20 counterparts to act with greater urgency to decarbonise the global economy. The G20 ministers and central bank chiefs are also expected to call for more support for countries hard-hit by the coronavirus pandemic. International Monetary Fund chief Kristalina Georgieva this week urged the richest countries to step up efforts to help the poorest nations withstand the "devastating double-blow" of Covid-19 and the resulting economic damage.

G20 ministers set to green light global tax reform

Former US President Donald Trump's company and its long-time Chief Financial Officer (CFO) Allen Weisselberg, have been charged with a 15-year alleged tax scheme that marked the first criminal case against Trump's namesake organisation.

Trump organisation, CFO charged with a 15-year tax scheme

Most of the countries negotiating a global overhaul of cross-border taxation of multinationals have backed plans for new rules where companies are taxed and a tax rate of at least 15%.

World Business Watch: 130 countries back global minimum corporate tax of 15%

According to an investigative report by New York-based ProPublica, 25 richest Americans paid relatively little to nothing in federal income taxes. The report claims that Warren Buffett, Jeff Bezos, Michael Bloomberg and Elon Musk paid less than 4% tax on their incomes between 2014 and 2018.

Top richest Americans paid little to nothing in US Federal income taxes, says report

After raising doubts on U.S. Treasury Secretary Janet Yellen's G-7 deal to impose a global minimum corporate tax and allow more countries to tax big multinational firms, several top Senate Republicans have rejected the deal.

US Republicans to oppose G7 tax deal

Bangladesh has declared a tax rebate for companies hiring transgenders in a series of measures to boost support for the minority group in the conservative Muslim-majority nation.

Bangladesh: Firms with 100 transgender workers to get tax rebate

Group of Seven rich nations (G7) on Saturday agreed over a global minimum tax of at least 15 per cent on a country by country basis. This is a landmark move. It is understood to be aimed at getting multinationals, especially tech giants to put more money in government coffers in times when economies around the world have been hit because of coronavirus pandemic.

"We commit to reaching an equitable solution on the allocation of taxing rights, with market countries awarded taxing rights on at least 20% of profit exceeding a 10% margin for the largest and most profitable multinational enterprises," a communique from G7 finance ministers seen by Reuters said.

"We will provide for appropriate coordination between the application of the new international tax rules and the removal of all Digital Services Taxes, and other relevant similar measures, on all companies."

The&nbsp;proposal, will then go to the expanded group of 20 countries at their finance meeting in July.

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British finance minister Rishi Sunak was chairing the London meetings, held in person after an easing of Covid-19 restrictions and attended by counterparts from Canada, France, Germany, Italy, Japan and the United States.

The talks were preparing the ground for a broader summit of G7 leaders in Cornwall, southwest England, starting Friday.

US President Joe Biden will attend the summit next week. This will be his first foreign tour since taking the office in January

'Right time'

Momentum was&nbsp;growing behind the US-led plans to limit the ability of multinationals like tech giants to game the system to boost profits, especially at a time when economies around the world are reeling from the impact of the coronavirus pandemic.&nbsp;

German finance minister Olaf Scholz on Friday told reporters it was the "right time" for a global tax deal given the vast sums spent by governments "to protect citizens, stabilise the economy and save jobs" since last year.

Biden has called for a unified minimum corporate tax rate of 15 percent in negotiations with the Organisation for Economic Co-operation and Development (OECD) and G20.

(With inputs from agencies)

Group of Seven rich nations (G7) on Saturday agreed over a global minimum tax of at least 15 per cent on a country by country basis. This is a landmark move. It is understood to be aimed at getting multinationals, especially tech giants to put more money in government coffers in times when economies around the world have been hit because of coronavirus pandemic.

Group of Seven rich nations (G7) on Saturday agreed over a global minimum tax of at least 15 per cent on a country by country basis. This is a landmark move. It is understood to be aimed at getting multinationals, especially tech giants to put more money in government coffers in times when economies around the world have been hit because of coronavirus pandemic. "We commit to reaching an equitable solution on the allocation of taxing rights, with market countries awarded taxing rights on at least 20% of profit exceeding a 10% margin for the largest and most profitable multinational enterprises," a communique from G7 finance ministers seen by Reuters said. "We will provide for appropriate coordination between the application of the new international tax rules and the removal of all Digital Services Taxes, and other relevant similar measures, on all companies." The proposal, will then go to the expanded group of 20 countries at their finance meeting in July. Also Read | Facebook says it could pay more corporate tax after G7 decision British finance minister Rishi Sunak was chairing the London meetings, held in person after an easing of Covid-19 restrictions and attended by counterparts from Canada, France, Germany, Italy, Japan and the United States. The talks were preparing the ground for a broader summit of G7 leaders in Cornwall, southwest England, starting Friday. US President Joe Biden will attend the summit next week. This will be his first foreign tour since taking the office in January 'Right time' Momentum was growing behind the US-led plans to limit the ability of multinationals like tech giants to game the system to boost profits, especially at a time when economies around the world are reeling from the impact of the coronavirus pandemic. German finance minister Olaf Scholz on Friday told reporters it was the "right time" for a global tax deal given the vast sums spent by governments "to protect citizens, stabilise the economy and save jobs" since last year. Biden has called for a unified minimum corporate tax rate of 15 percent in negotiations with the Organisation for Economic Co-operation and Development (OECD) and G20. (With inputs from agencies)

Eye on tech firms: G7 nations agree on minimum 15 per cent corporate tax rate

Facebook on Saturday welcomed progress made by G7 group of countries on a minimum tax rate. The social media giant accepted that the decision can mean that it would have to pay more taxes and in different places, its head of global affairs Nick Clegg said on Saturday.

"Facebook has long called for reform of the global tax rules and we welcome the important progress made at the G7," Clegg said on Twitter. "Today's agreement is a significant first step towards certainty for businesses and strengthening public confidence in the global tax system.

"We want the international tax reform process to succeed and recognize this could mean Facebook paying more tax, and in different places."

On Saturday,&nbsp;the G7 group of nations agreed to keep 15 per cent as the minimum rate for corporate tax. It is being understood that the decision has been taken with an eye on multinationals, especially tech companies.

The proposal, will now go to the expanded group of 20 countries at their finance meeting in July.

(With inputs from agencies)

Facebook on Saturday welcomed progress made by G7 group of countries on a minimum tax rate. The social media giant accepted that the decision can mean that it would have to pay more taxes and in different places, its head of global affairs Nick Clegg said on Saturday.

Facebook on Saturday welcomed progress made by G7 group of countries on a minimum tax rate. The social media giant accepted that the decision can mean that it would have to pay more taxes and in different places, its head of global affairs Nick Clegg said on Saturday. "Facebook has long called for reform of the global tax rules and we welcome the important progress made at the G7," Clegg said on Twitter. "Today's agreement is a significant first step towards certainty for businesses and strengthening public confidence in the global tax system. "We want the international tax reform process to succeed and recognize this could mean Facebook paying more tax, and in different places." On Saturday, the G7 group of nations agreed to keep 15 per cent as the minimum rate for corporate tax. It is being understood that the decision has been taken with an eye on multinationals, especially tech companies. The proposal, will now go to the expanded group of 20 countries at their finance meeting in July. (With inputs from agencies)

Facebook says it could pay more corporate tax after G7 decision

US President Joe Biden and Vice President Kamala Harris on Monday released their tax returns, according to which in 2020, she had an income of more than USD 1 million as compared to his USD 607,336.

The President and the first lady, Jill, a teacher, filed their income tax return jointly and reported federal adjusted gross income of USD 607,336, down from USD 985,223 in 2019.

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The first couple paid USD 157,414 in federal income tax and their 2020 effective federal income tax rate is 25.9 per cent, the White House said.

On the other hand, the Vice President and second gentleman Doug Emhoff reported federal adjusted gross income of USD 1,695,225.

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They paid USD 621,893 in federal income tax, amounting to a 2020 effective federal income tax rate of 36.7 per cent. They also paid USD 125,004 in California income tax.

The second gentleman paid USD 56,997 in District of Columbia income tax. They contributed USD 27,006 to charity in 2020.

According to the White House, the President and the first lady also reported donating USD 30,704 or about 5.1 per cent of their total income&nbsp;to 10 different charities.

The largest reported gift to charity was USD 10,000 to the Beau Biden Foundation, a public charity dedicated to ensuring that all children are free from the threat of abuse.

The President and the first lady also released their Delaware income tax return and reported paying USD 28,794 in Delaware income tax.

The first lady also released her Virginia income tax return and reported paying USD 443 in Virginia income tax.

As required by law, the President and Vice President also released their public financial disclosure reports.

The Ethics in Government Act of 1978 requires high-level federal officials to publicly disclose their personal financial interests.

The public filing system serves to prevent financial conflicts of interest by providing for a systematic review of the finances of government officials.

"Those finances are set forth in annual disclosures, which are reviewed and certified by the independent Office of Government Ethics. Neither the President nor the Vice President have any conflicts of interest," the White House said.

US President Joe Biden and Vice President Kamala Harris on Monday released their tax returns, according to which in 2020, she had an income of more than USD 1 million as compared to his USD 607,336.

US President Joe Biden and Vice President Kamala Harris on Monday released their tax returns, according to which in 2020, she had an income of more than USD 1 million as compared to his USD 607,336. The President and the first lady, Jill, a teacher, filed their income tax return jointly and reported federal adjusted gross income of USD 607,336, down from USD 985,223 in 2019. Also read- Under pressure, Biden works for ceasefire in Israel-Gaza violence The first couple paid USD 157,414 in federal income tax and their 2020 effective federal income tax rate is 25.9 per cent, the White House said. On the other hand, the Vice President and second gentleman Doug Emhoff reported federal adjusted gross income of USD 1,695,225. Also read- Venmo account of Biden discovered in less than 10 minutes: Report They paid USD 621,893 in federal income tax, amounting to a 2020 effective federal income tax rate of 36.7 per cent. They also paid USD 125,004 in California income tax. The second gentleman paid USD 56,997 in District of Columbia income tax. They contributed USD 27,006 to charity in 2020. According to the White House, the President and the first lady also reported donating USD 30,704 or about 5.1 per cent of their total income to 10 different charities. The largest reported gift to charity was USD 10,000 to the Beau Biden Foundation, a public charity dedicated to ensuring that all children are free from the threat of abuse. The President and the first lady also released their Delaware income tax return and reported paying USD 28,794 in Delaware income tax. The first lady also released her Virginia income tax return and reported paying USD 443 in Virginia income tax. As required by law, the President and Vice President also released their public financial disclosure reports. The Ethics in Government Act of 1978 requires high-level federal officials to publicly disclose their personal financial interests. The public filing system serves to prevent financial conflicts of interest by providing for a systematic review of the finances of government officials. "Those finances are set forth in annual disclosures, which are reviewed and certified by the independent Office of Government Ethics. Neither the President nor the Vice President have any conflicts of interest," the White House said.

Biden reports drop in income, releases tax returns

Colombia's President Ivan Duque has withdrawn a controversial tax reform bill following huge protests across the country. He said that his government would work to produce new proposals and seek consensus with other parties and organizations.

Colombia withdraws tax reform bill after mass protests

Colombian President Ivan Duque said on Sunday, he would withdraw a proposed tax reform after deadly protests and widespread lawmaker opposition, though he insisted a reform is still necessary to ensure fiscal stability.&nbsp;

Protests, have led to multiple deaths around the country since they began on Wednesday, continued on Sunday in some cities, despite the announcement.&nbsp;

Duque said on Friday, the law would be revised to remove some of its most controversial points, including the leveling of sales tax on utilities and some food, but the government had previously insisted it could not be withdrawn.&nbsp;

"I am asking Congress to withdraw the law proposed by the finance ministry and urgently process a new law that is the fruit of consensus, in order to avoid financial uncertainty," Duque said in a video.&nbsp;

The reform, which the government has insisted is vital to stabilising Colombia's finances, maintaining its credit rating and funding social programmes, remains necessary, Duque said.&nbsp;

Political parties, local officials, business leaders and civil society have contributed valuable ideas over the last several days, he said.&nbsp;

There is consensus on the need for temporary taxes on businesses and dividends, an increase in income tax for the wealthiest and deepened state austerity measures, Duque said.&nbsp;

"It is a moment for all of us to work together without malice," he said.&nbsp;

The central bank warned on Friday, failure to approve the reform could have a negative impact on the economy, while a loss of the country's investment-grade credit rating has already been priced in by many investors.&nbsp;

Lawmakers, unions and other groups hailed the announcement as a victory. Celebratory cacerolazos, a traditional protest where people beat pots and pans, could be heard in some neighborhoods.&nbsp;

"It is the youth, social organisations and mobilised citizens, who have seen deaths and defeated the government," leftist Senator Ivan Cepeda said on Twitter. "May the government not present the same reform with make-up. The citizens won't accept tricks."&nbsp;

There is not yet a definite national count of deaths connected to protests, amid incidents of looting, destruction of public transport and road blockades in several cities.&nbsp;

Local officials in Cali, the country's third-largest city and where demonstrations have been the most violent, have confirmed three. One death each occurred in the city of Neiva and the municipality of Madrid and a police officer was killed in Soacha.&nbsp;

The procurator's office said in an afternoon statement, it was investigating 14 deaths nationally, while human rights groups have alleged police abuses, especially in Cali, and said deaths number more than 20.&nbsp;

The national police director said the force would contribute all necessary information to the procurator's investigations.&nbsp;

Duque said late on Saturday, cities at high risk for disturbances would get military assistance, an offer rejected by Bogota Mayor Claudia Lopez.&nbsp;

(With input from agencies) &nbsp;

Colombian President Ivan Duque said on Sunday, he would withdraw a proposed tax reform after deadly protests and widespread lawmaker opposition, though he insisted a reform is still necessary to ensure fiscal stability.

Colombian President Ivan Duque said on Sunday, he would withdraw a proposed tax reform after deadly protests and widespread lawmaker opposition, though he insisted a reform is still necessary to ensure fiscal stability. Protests, have led to multiple deaths around the country since they began on Wednesday, continued on Sunday in some cities, despite the announcement. Duque said on Friday, the law would be revised to remove some of its most controversial points, including the leveling of sales tax on utilities and some food, but the government had previously insisted it could not be withdrawn. "I am asking Congress to withdraw the law proposed by the finance ministry and urgently process a new law that is the fruit of consensus, in order to avoid financial uncertainty," Duque said in a video. The reform, which the government has insisted is vital to stabilising Colombia's finances, maintaining its credit rating and funding social programmes, remains necessary, Duque said. Political parties, local officials, business leaders and civil society have contributed valuable ideas over the last several days, he said. There is consensus on the need for temporary taxes on businesses and dividends, an increase in income tax for the wealthiest and deepened state austerity measures, Duque said. "It is a moment for all of us to work together without malice," he said. The central bank warned on Friday, failure to approve the reform could have a negative impact on the economy, while a loss of the country's investment-grade credit rating has already been priced in by many investors. Lawmakers, unions and other groups hailed the announcement as a victory. Celebratory cacerolazos, a traditional protest where people beat pots and pans, could be heard in some neighborhoods. "It is the youth, social organisations and mobilised citizens, who have seen deaths and defeated the government," leftist Senator Ivan Cepeda said on Twitter. "May the government not present the same reform with make-up. The citizens won't accept tricks." There is not yet a definite national count of deaths connected to protests, amid incidents of looting, destruction of public transport and road blockades in several cities. Local officials in Cali, the country's third-largest city and where demonstrations have been the most violent, have confirmed three. One death each occurred in the city of Neiva and the municipality of Madrid and a police officer was killed in Soacha. The procurator's office said in an afternoon statement, it was investigating 14 deaths nationally, while human rights groups have alleged police abuses, especially in Cali, and said deaths number more than 20. The national police director said the force would contribute all necessary information to the procurator's investigations. Duque said late on Saturday, cities at high risk for disturbances would get military assistance, an offer rejected by Bogota Mayor Claudia Lopez. (With input from agencies)

Colombia's president withdraws tax reform after protests 

Thousands of protesters answered calls from Colombia's biggest unions to come out on streets around the country on Wednesday in protest against a controversial tax reform proposal.

Thousands of Colombians take it to streets to protest against tax increase

It's an idea championed by US President Joe Biden, leading economists and even the International Monetary Fund -- make the rich pay more taxes to replenish public coffers and narrow huge wealth gaps.

Biden wants to end his predecessor Donald&nbsp;Trump's&nbsp;tax&nbsp;cuts for the rich and close what US officials see as loopholes benefiting the wealthiest Americans in order to fund a $1.8 trillion middle-class families spending programme.

But even as other governments seek to revive economies pummelled by the coronavirus pandemic, such initiatives would face an uphill battle as&nbsp;tax&nbsp;rates for the rich have been coming down everywhere for the past 40 years.

The prominent French economist Thomas Piketty called for a global&nbsp;tax&nbsp;of two per cent on all fortunes exceeding 10 million euros in a column in the newspaper Le Monde earlier this month.

Such a levy would raise 1.0 trillion euros ($1.2 trillion) per year, Piketty told AFP.

He said the funds could be used to narrow the gap between the world's richest and poorest nations since "the sums would be shared among all countries as a proportion of their population."

Also this month, Emmanuel Saez and Gabriel Zucman, professors at the University of California, Berkeley, wrote a column in The Washington Post titled "Don't wait for billionaires to sell their stock.&nbsp;Tax&nbsp;their riches now."&nbsp;

The combined fortunes of the 400 richest Americans amount to the equivalent of 18 per cent of US gross domestic product, twice the level seen in 2010.

But Jeff Bezos of Amazon, Elon Musk of Tesla, Larry Page of Google and Mark Zuckerberg of Facebook "contribute little to the public coffers," the two Frenchmen wrote.

"They structure their affairs so as to have little taxable income," by forgoing huge salaries and holding on to shares in their companies to avoid capital gains taxes, the economists argued.

Saez and Zucman suggest therefore that billionaires should be taxed on "unrealised capital gains" in the form of an exceptional levy that could raise as much as $1.0 trillion.

Biden's plan, which he will present in his first speech to Congress on Wednesday evening, would nearly double the capital gains&nbsp;tax&nbsp;to 39.6 per cent for households making over $1 million, the top 0.3 per cent of Americans.

And it would also close what the White House says is a loophole allowing the wealthiest Americans to pass down their accumulated gains to their heirs&nbsp;tax-free.

The IMF has backed the idea of raising more revenue from individuals and companies which have thrived during the pandemic.

One option would be a "Covid-19 recovery contribution" in the form of a surcharge on the personal or corporate income&nbsp;tax&nbsp;given that some "have done very well and have done very well in terms of stock market valuation," said Vitor Gaspar, head of the IMF's Fiscal Affairs Department, earlier this month.

"There is an opportunity there, and that is one of the options that is on the table," he said while also suggesting closing loopholes in capital income taxation, property taxes and inheritance taxes.

In a blog in January, World Bank senior adviser Jim Brumby said most countries are "extremely hesitant" to introduce wealth taxes.

"But if ever there were a time that wealth taxes could help, it may be now," he wrote, noting that inequality was "out-of-hand", with the wealthy getting "far wealthier" while Covid-19 pushed 100 million people into poverty.

However, apart from Argentina and Bolivia which have introduced an exceptional "Covid contribution" on large fortunes,&nbsp;purely symbolic in the case of La Paz,&nbsp;few countries seem willing to impose a wealth&nbsp;tax, even in the form of a one-off levy.

It is certainly not on the table in Australia, Britain or Germany, even though 54 per cent of Britons are in favour, according to a recent poll.

France, which eliminated a wealth&nbsp;tax&nbsp;in 2018 after almost three decades, has ruled out fresh hikes.

But not all economists believe a wealth&nbsp;tax&nbsp;is a good idea.

Nobel prize-winning economist Angus Deaton told Bloomberg News earlier in April that such a&nbsp;tax&nbsp;would be "very difficult to implement" and give the wealthy "huge incentives to avoid it...and avoid it they will".

It's an idea championed by US President Joe Biden, leading economists and even the International Monetary Fund -- make the rich pay more taxes to replenish public coffers and narrow huge wealth gaps.

It's an idea championed by US President Joe Biden, leading economists and even the International Monetary Fund -- make the rich pay more taxes to replenish public coffers and narrow huge wealth gaps. Biden wants to end his predecessor Donald Trump's tax cuts for the rich and close what US officials see as loopholes benefiting the wealthiest Americans in order to fund a $1.8 trillion middle-class families spending programme. But even as other governments seek to revive economies pummelled by the coronavirus pandemic, such initiatives would face an uphill battle as tax rates for the rich have been coming down everywhere for the past 40 years. The prominent French economist Thomas Piketty called for a global tax of two per cent on all fortunes exceeding 10 million euros in a column in the newspaper Le Monde earlier this month. Such a levy would raise 1.0 trillion euros ($1.2 trillion) per year, Piketty told AFP. He said the funds could be used to narrow the gap between the world's richest and poorest nations since "the sums would be shared among all countries as a proportion of their population." Also this month, Emmanuel Saez and Gabriel Zucman, professors at the University of California, Berkeley, wrote a column in The Washington Post titled "Don't wait for billionaires to sell their stock. Tax their riches now." The combined fortunes of the 400 richest Americans amount to the equivalent of 18 per cent of US gross domestic product, twice the level seen in 2010. But Jeff Bezos of Amazon, Elon Musk of Tesla, Larry Page of Google and Mark Zuckerberg of Facebook "contribute little to the public coffers," the two Frenchmen wrote. "They structure their affairs so as to have little taxable income," by forgoing huge salaries and holding on to shares in their companies to avoid capital gains taxes, the economists argued. Saez and Zucman suggest therefore that billionaires should be taxed on "unrealised capital gains" in the form of an exceptional levy that could raise as much as $1.0 trillion. Biden's plan, which he will present in his first speech to Congress on Wednesday evening, would nearly double the capital gains tax to 39.6 per cent for households making over $1 million, the top 0.3 per cent of Americans. And it would also close what the White House says is a loophole allowing the wealthiest Americans to pass down their accumulated gains to their heirs tax-free. The IMF has backed the idea of raising more revenue from individuals and companies which have thrived during the pandemic. One option would be a "Covid-19 recovery contribution" in the form of a surcharge on the personal or corporate income tax given that some "have done very well and have done very well in terms of stock market valuation," said Vitor Gaspar, head of the IMF's Fiscal Affairs Department, earlier this month. "There is an opportunity there, and that is one of the options that is on the table," he said while also suggesting closing loopholes in capital income taxation, property taxes and inheritance taxes. In a blog in January, World Bank senior adviser Jim Brumby said most countries are "extremely hesitant" to introduce wealth taxes. "But if ever there were a time that wealth taxes could help, it may be now," he wrote, noting that inequality was "out-of-hand", with the wealthy getting "far wealthier" while Covid-19 pushed 100 million people into poverty. However, apart from Argentina and Bolivia which have introduced an exceptional "Covid contribution" on large fortunes, purely symbolic in the case of La Paz, few countries seem willing to impose a wealth tax, even in the form of a one-off levy. It is certainly not on the table in Australia, Britain or Germany, even though 54 per cent of Britons are in favour, according to a recent poll. France, which eliminated a wealth tax in 2018 after almost three decades, has ruled out fresh hikes. But not all economists believe a wealth tax is a good idea. Nobel prize-winning economist Angus Deaton told Bloomberg News earlier in April that such a tax would be "very difficult to implement" and give the wealthy "huge incentives to avoid it...and avoid it they will".

Biden puts taxing rich back in spotlight

After topping the list of Forbes' annual world's billionaires for the fourth consecutive year, Amazon’s founder <a href="https://www.wionews.com/topics/jeff-bezos">Jeff Bezos</a> has lent support to the proposal of raising taxes on US companies.

“We support the Biden Administration’s focus on making bold investments in American infrastructure. Both Democrats and Republicans have supported infrastructure in the past, and it’s the right time to work together to make this happen,” a statement by Bezos read.

Also read |&nbsp;<a href="https://www.wionews.com/world/forbes-annual-worlds-billionaires-bezos-musk-top-record-setting-list-375711">Forbes' annual world's billionaires: Bezos, Musk top record-setting list</a>

“We recognize this investment will require concessions from all sides—both on the specifics of what’s included as well as how it gets paid for (we’re supportive of a rise in the corporate tax rate),” he added.

The statement has come after US President Joe Biden proposed a plan to change the corporate rate from 21 per cent to 28 per cent, in a bid to upgrade America’s infrastructure.

Biden had singled out Amazon as an example of US companies that pay too little, during his speech unveiling the proposal.

This has also come after Senator Elizabeth Warren took to Twitter to accuse the retail giant of exploiting corporate loopholes and not paying enough.

<div class="ui-state-default" contenteditable="false">
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<blockquote class="twitter-tweet">
Giant corporations like Amazon report huge profits to their shareholders – but they exploit loopholes and tax havens to pay close to nothing in taxes. That’s just not right – and it’s why I’ll be introducing a bill to make the most profitable companies pay a fair share. <a href="https://t.co/vPrmGbjUKW">pic.twitter.com/vPrmGbjUKW</a>
— Elizabeth Warren (@SenWarren) <a href="https://twitter.com/SenWarren/status/1375189145476288513?ref_src=twsrc%5Etfw">March 25, 2021</a></blockquote>
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Amazon had hit back by accusing the senator of having double standards and tweeted, "You make the tax laws&nbsp;@SenWarren; we just follow them. If you don’t like the laws you’ve created, by all means, change them. Here are the facts: Amazon has paid billions of dollars in corporate taxes over the past few years alone."

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<blockquote class="twitter-tweet">
3/3 So what have we done about that? $350B in investments since 2010 &amp; 400K new US jobs last year alone. And while you’re working on changing the tax code, can we please raise the federal minimum wage to $15?
— Amazon News (@amazonnews) <a href="https://twitter.com/amazonnews/status/1375248030933209093?ref_src=twsrc%5Etfw">March 26, 2021</a></blockquote>
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&nbsp;

After topping the list of Forbes' annual world's billionaires for the fourth consecutive year, Amazon’s founder Jeff Bezos has lent support to the proposal of raising taxes on US companies.

After topping the list of Forbes' annual world's billionaires for the fourth consecutive year, Amazon’s founder Jeff Bezos has lent support to the proposal of raising taxes on US companies. “We support the Biden Administration’s focus on making bold investments in American infrastructure. Both Democrats and Republicans have supported infrastructure in the past, and it’s the right time to work together to make this happen,” a statement by Bezos read. Also read | Forbes' annual world's billionaires: Bezos, Musk top record-setting list “We recognize this investment will require concessions from all sides—both on the specifics of what’s included as well as how it gets paid for (we’re supportive of a rise in the corporate tax rate),” he added. The statement has come after US President Joe Biden proposed a plan to change the corporate rate from 21 per cent to 28 per cent, in a bid to upgrade America’s infrastructure. Biden had singled out Amazon as an example of US companies that pay too little, during his speech unveiling the proposal. This has also come after Senator Elizabeth Warren took to Twitter to accuse the retail giant of exploiting corporate loopholes and not paying enough. Giant corporations like Amazon report huge profits to their shareholders – but they exploit loopholes and tax havens to pay close to nothing in taxes. That’s just not right – and it’s why I’ll be introducing a bill to make the most profitable companies pay a fair share. pic.twitter.com/vPrmGbjUKW — Elizabeth Warren (@SenWarren) March 25, 2021 × Amazon had hit back by accusing the senator of having double standards and tweeted, "You make the tax laws @SenWarren; we just follow them. If you don’t like the laws you’ve created, by all means, change them. Here are the facts: Amazon has paid billions of dollars in corporate taxes over the past few years alone." 3/3 So what have we done about that? $350B in investments since 2010 & 400K new US jobs last year alone. And while you’re working on changing the tax code, can we please raise the federal minimum wage to $15? — Amazon News (@amazonnews) March 26, 2021 ×

Amazon's Jeff Bezos supports Biden's tax increase on US corporates

In yet another positive announcement of the year, the Jacinda Ardern-led New Zealand government has decided to increase its minimum wage and the top tax rate for the rich.

The minimum wage will be increased to $20 an hour, with increases in unemployment and sickness benefits. The government has decided to increase the minimum wage by $1.14 per hour.&nbsp;

This increase is expected to help nearly 175,000 workers and help the economy by $216 million.

Also read |&nbsp;<a href="https://www.wionews.com/world/new-zealand-becomes-second-country-to-give-women-bereavement-leaves-after-miscarriage-373854">New Zealand becomes second country to give women bereavement leaves after miscarriage</a>

Ardern has also decided to increase the top tax rate for the highest earners to 39 per cent. This will be applied to anyone earning more than $180,000 in a year — which is nearly 2 per cent of locals.

The increase in top tax rate has been initiated with the aim of increasing the country's annual revenue by nearly $550 million for this year.

Jacinda Ardern, speaking about the changes, said her cabinet has brought in the changes to fulfil the pre-election promise and show "real and long-overdue improvements to the support we provide our most vulnerable".

Also read |&nbsp;<a href="http://13.235.153.162/world/deeply-sorry-new-zealands-catholic-church-apologises-to-victims-of-abuse-373314" hreflang="en">'Deeply sorry': New Zealand's Catholic Church apologises to victims of abuse</a>

She also talked about the need to improve other important sectors too. "There is still much more to do, including building more homes, improving our health system, investing in education, training and job opportunities," she said.

The changes have come after the unions called for an increase in the living wage in 2020 (which was $22.10) for frontline workers.

"It’s a big deal to these workers. Part of it’s the money, part of it’s the dignity of feeling rewarded by the community for the sacrifices they’re making," United Union national secretary John Crocker had told local media at that time.

The opposition leaders, however, are not happy with the increase in the minimum wage. "Sharply increasing the minimum wage during a period of extreme uncertainty for small businesses is economic vandalism," claimed opposition National party spokesman, Scott Simpson.

In yet another positive announcement of the year, the Jacinda Ardern-led New Zealand government has decided to increase its minimum wage and the top tax rate for the rich.

In yet another positive announcement of the year, the Jacinda Ardern-led New Zealand government has decided to increase its minimum wage and the top tax rate for the rich. The minimum wage will be increased to $20 an hour, with increases in unemployment and sickness benefits. The government has decided to increase the minimum wage by $1.14 per hour. This increase is expected to help nearly 175,000 workers and help the economy by $216 million. Also read | New Zealand becomes second country to give women bereavement leaves after miscarriage Ardern has also decided to increase the top tax rate for the highest earners to 39 per cent. This will be applied to anyone earning more than $180,000 in a year — which is nearly 2 per cent of locals. The increase in top tax rate has been initiated with the aim of increasing the country's annual revenue by nearly $550 million for this year. Jacinda Ardern, speaking about the changes, said her cabinet has brought in the changes to fulfil the pre-election promise and show "real and long-overdue improvements to the support we provide our most vulnerable". Also read | 'Deeply sorry': New Zealand's Catholic Church apologises to victims of abuse She also talked about the need to improve other important sectors too. "There is still much more to do, including building more homes, improving our health system, investing in education, training and job opportunities," she said. The changes have come after the unions called for an increase in the living wage in 2020 (which was $22.10) for frontline workers. "It’s a big deal to these workers. Part of it’s the money, part of it’s the dignity of feeling rewarded by the community for the sacrifices they’re making," United Union national secretary John Crocker had told local media at that time. The opposition leaders, however, are not happy with the increase in the minimum wage. "Sharply increasing the minimum wage during a period of extreme uncertainty for small businesses is economic vandalism," claimed opposition National party spokesman, Scott Simpson.

Jacinda Ardern increases minimum wage and taxes for rich

In what can potentially be a major start of a post-Brexit legal battle between the European Union and UK, the EU has announced that it will take legal action against UK over Gibraltar tax.&nbsp;The legal action has been launched to force Britain to recover 100 million euros ($120 million) in tax exemptions for multinational firms operating in Gibraltar.

European Commission vice-president Margrethe Vestager said the UK had failed to claw back the sum despite the EU deeming the tax breaks "illegal state aid".

The sum, equivalent to $119 million, is small relative to many EU state subsidy cases, but the case is the latest in a string of spats between the EU and post-Brexit Britain.

"The aid granted by Gibraltar in the form of corporate tax exemption for passive interest and royalties gave an unfair advantage to some multinational companies," Vestager said.

"More than two years after the Commission adopted this decision, the aid has still not been recovered in full and sufficient progress has not been made in restoring competition," she said.&nbsp;

"That is why we have decided to refer the United Kingdom to the Court of Justice for failing to implement this decision."

The United Kingdom left the European Union last year, but the case dates back to a period before Brexit over which Brussels says the European Court of Justice still has jurisdiction.

(With AFP inputs)

In what can potentially be a major start of a post-Brexit legal battle between the European Union and UK, the EU has announced that it will take legal action against UK over Gibraltar tax.

In what can potentially be a major start of a post-Brexit legal battle between the European Union and UK, the EU has announced that it will take legal action against UK over Gibraltar tax. The legal action has been launched to force Britain to recover 100 million euros ($120 million) in tax exemptions for multinational firms operating in Gibraltar. European Commission vice-president Margrethe Vestager said the UK had failed to claw back the sum despite the EU deeming the tax breaks "illegal state aid". The sum, equivalent to $119 million, is small relative to many EU state subsidy cases, but the case is the latest in a string of spats between the EU and post-Brexit Britain. "The aid granted by Gibraltar in the form of corporate tax exemption for passive interest and royalties gave an unfair advantage to some multinational companies," Vestager said. "More than two years after the Commission adopted this decision, the aid has still not been recovered in full and sufficient progress has not been made in restoring competition," she said. "That is why we have decided to refer the United Kingdom to the Court of Justice for failing to implement this decision." The United Kingdom left the European Union last year, but the case dates back to a period before Brexit over which Brussels says the European Court of Justice still has jurisdiction. (With AFP inputs)

EU takes legal action against UK over Gibraltar tax

Joe Biden administration told a federal court in the US that it needs more time to decide whether it will release Donald Trump's tax records, said credible media reports. As per media reports that cited a court filing from the govt, the Justice Department and Treasury Department said that they needed time to weigh how to respond to a subpoena by House Democrats. These Democrats are asking for six years of tax records to be released.

Government lawyers told the court that as transition was still going on at Justice and Treasury departments, they needed more time to respond to House Democrats' demand for release of Trump's tax records.

The legal battle dates back to 2019.

Donald Trump has always kept his tax records a secret. This has given reason to his critics to allege that he was evading taxes and has avoided paying millions of dollars to the government.

Trump has for years claimed that his business was "under audit" and that he would release his tax returns once the audit was completed. However, the "audit" seems to have gone on for years and there have been no concrete signs of Trump wanting to make his tax record public.

His tax records had become an issue both in 2016, as well as 2020 US Presidential elections with Democratic Party upping the ante against him.

Joe Biden administration told a federal court in the US that it needs more time to decide whether it will release Donald Trump's tax records, said credible media reports.

Joe Biden administration told a federal court in the US that it needs more time to decide whether it will release Donald Trump's tax records, said credible media reports. As per media reports that cited a court filing from the govt, the Justice Department and Treasury Department said that they needed time to weigh how to respond to a subpoena by House Democrats. These Democrats are asking for six years of tax records to be released. Government lawyers told the court that as transition was still going on at Justice and Treasury departments, they needed more time to respond to House Democrats' demand for release of Trump's tax records. The legal battle dates back to 2019. Donald Trump has always kept his tax records a secret. This has given reason to his critics to allege that he was evading taxes and has avoided paying millions of dollars to the government. Trump has for years claimed that his business was "under audit" and that he would release his tax returns once the audit was completed. However, the "audit" seems to have gone on for years and there have been no concrete signs of Trump wanting to make his tax record public. His tax records had become an issue both in 2016, as well as 2020 US Presidential elections with Democratic Party upping the ante against him.

Trump tax returns: Biden administration seeks more time to decide on release, say reports

Main private channel in Poland along with radio stations and newspapers observed a media blackout to protest against a proposed tax for non-state outlets. Poland's main news channel TVN participated in the move in opposition to the advertising tax. Newspapers carried blank front pages.

"This is where your favourite programme was supposed to be," read a white message on a black background on the TVN24 news channel. 
In a statement to AFP, the channel, owned by the US group Discovery, said the government proposal had "the intention of restricting their pluralism and freedom of expression".

The front pages of dozens of national newspapers including the most widely read dailies Fakt and Gazeta Wyborcza had a message in white on a black background reading "Media Without Choice".

Their websites were also blacked out.

Radio stations also suspended service, with Radio Zet informing its listeners that the tax would mean "liquidation for some media businesses".

"There is no free country without independent media. There is no freedom without freedom of choice," the radio station said.

The new tax, which is expected to take effect later this year, imposes a levy on advertising revenues of television and radio broadcasters, print outlets and internet media companies.

State media are exempt from the tax.

Polish Prime Minister Mateusz Morawiecki has said the tax is part of Europe-wide efforts to tax global tech giants like Google or Facebook but many independent media outlets say they would be unfairly targeted too.

(With AFP inputs)

Main private channel in Poland along with radio stations and newspapers observed a media blackout to protest against a proposed tax for non-state outlets. Poland's main news channel TVN participated in the move in opposition to the advertising tax.

Main private channel in Poland along with radio stations and newspapers observed a media blackout to protest against a proposed tax for non-state outlets. Poland's main news channel TVN participated in the move in opposition to the advertising tax. Newspapers carried blank front pages. "This is where your favourite programme was supposed to be," read a white message on a black background on the TVN24 news channel. In a statement to AFP, the channel, owned by the US group Discovery, said the government proposal had "the intention of restricting their pluralism and freedom of expression". The front pages of dozens of national newspapers including the most widely read dailies Fakt and Gazeta Wyborcza had a message in white on a black background reading "Media Without Choice". Their websites were also blacked out. Radio stations also suspended service, with Radio Zet informing its listeners that the tax would mean "liquidation for some media businesses". "There is no free country without independent media. There is no freedom without freedom of choice," the radio station said. The new tax, which is expected to take effect later this year, imposes a levy on advertising revenues of television and radio broadcasters, print outlets and internet media companies. State media are exempt from the tax. Polish Prime Minister Mateusz Morawiecki has said the tax is part of Europe-wide efforts to tax global tech giants like Google or Facebook but many independent media outlets say they would be unfairly targeted too. (With AFP inputs)

Poland: Media outlets observe blackout to protest new ad tax

Tax on Argentina's richest people came into effect on Friday (local time). The tax has been levied in order to make fund provisions for medical supplies and relief to businesses in a global economy battered by coronavirus pandemic. The law passed by Senate in December last year approves the tax on Argentinians who have assets exceeding 200 million pesos (around 2.3 million USD)

The center-left government of President Alberto Fernandez hopes to raise about $3 billion from taxing the richest 12,000 of Argentina's 44 million inhabitants.&nbsp;

As per the law, taxable individuals will pay up to 3.5 per cent of the assets declared in the country and upto 5.25 per cent assets abroad.

The proceeds will be used to buy medical supplies, aid small and medium enterprises, fund social aid, and to provide natural gas to people off the energy grid.

Argentina's center-right opposition has criticised the taxes and has called them 'confiscatory'.

Argentina has been badly hit by the coronavirus, with more than 1.9 million confirmed cases of infection and more than 47,000 deaths.

The pandemic has exacerbated the already high poverty rate in a country which has been in recession since 2018, and has an unemployment rate of 11.7 percent.

In its annual report on economic inequality, Oxfam said Monday the world's 1,000 richest people had recouped their coronavirus-related losses within nine months, while it could take the world's poorest more than a decade to recover from the impacts of the global health crisis.

(With AFP inputs)

Tax on Argentina's richest people came into effect on Friday (local time). The tax has been levied in order to make fund provisions for medical supplies and relief to businesses in a global economy battered by coronavirus pandemic.

Tax on Argentina's richest people came into effect on Friday (local time). The tax has been levied in order to make fund provisions for medical supplies and relief to businesses in a global economy battered by coronavirus pandemic. The law passed by Senate in December last year approves the tax on Argentinians who have assets exceeding 200 million pesos (around 2.3 million USD) The center-left government of President Alberto Fernandez hopes to raise about $3 billion from taxing the richest 12,000 of Argentina's 44 million inhabitants. As per the law, taxable individuals will pay up to 3.5 per cent of the assets declared in the country and upto 5.25 per cent assets abroad. The proceeds will be used to buy medical supplies, aid small and medium enterprises, fund social aid, and to provide natural gas to people off the energy grid. Argentina's center-right opposition has criticised the taxes and has called them 'confiscatory'. Argentina has been badly hit by the coronavirus, with more than 1.9 million confirmed cases of infection and more than 47,000 deaths. The pandemic has exacerbated the already high poverty rate in a country which has been in recession since 2018, and has an unemployment rate of 11.7 percent. In its annual report on economic inequality, Oxfam said Monday the world's 1,000 richest people had recouped their coronavirus-related losses within nine months, while it could take the world's poorest more than a decade to recover from the impacts of the global health crisis. (With AFP inputs)

Argentina's 'millionaire tax' comes into effect

Two separate New York state fraud investigations into President Donald Trump and his businesses, one criminal and one civil, have expanded to include tax write-offs on millions of dollars in consulting fees, some of which appear to have gone to Ivanka Trump, according to people with knowledge of the matter.

The inquiries — a criminal investigation by Manhattan District Attorney Cyrus R. Vance Jr., and a civil one by state Attorney General Letitia James — are being conducted independently. But both offices issued subpoenas to the Trump Organization in recent weeks for records related to the fees, the people said.

Also read|&nbsp;<a href="https://www.wionews.com/world/donald-trump-to-address-apec-summit-a-day-after-chinas-xi-jinping-344217" hreflang="en">Donald Trump to address APEC summit a day after China's Xi Jinping</a>

The subpoenas were the latest steps in the two investigations of the Trump Organization, and underscore the legal challenges awaiting the president when he leaves office in January. There is no indication that his daughter is a focus of either inquiry, which the Trump Organization has derided as politically motivated.

The development follows a recent New York Times examination of more than two decades of Donald Trump’s tax records, which found that he had paid little or no federal income taxes in most years, largely because of his chronic business losses.

Among the revelations was that Trump reduced his taxable income by deducting about $26 million in fees to unidentified consultants as a business expense on numerous projects between 2010 and 2018.

Also read|&nbsp;<a href="https://www.wionews.com/world/donald-trump-asks-judge-to-declare-him-winner-in-pennsylvania-344151" hreflang="en">Donald Trump asks judge to declare him winner in Pennsylvania</a>

Some of those fees appear to have been paid to Ivanka Trump, The Times found. On a 2017 disclosure she filed when joining the White House as a presidential adviser, she reported receiving payments from a consulting company she co-owned, totaling $747,622, that exactly matched consulting fees claimed as tax deductions by the Trump Organization for hotel projects in Hawaii and Vancouver, British Columbia.

The subpoenas were focused on fees paid to the firm on her disclosures, TTT Consulting LLC, and represented just a portion of the $26 million, according to a person with knowledge of the matter. The name of the firm appears to be a reference to Ivanka Trump and other members of her family.

Ivanka Trump was an executive officer of the Trump companies that made the payments, meaning she appears to have been treated as a consultant while also working for the company. While companies can deduct professional fees, the Internal Revenue Service requires that consulting arrangements be market-based and reasonable, as well as “ordinary and necessary” to running a business.

Also read|&nbsp;<a href="https://www.wionews.com/world/ivanka-trump-is-narcissistic-and-obsessed-with-status-like-donald-former-friend-344036">Ivanka Trump is narcissistic and obsessed with status, like Donald: Former friend</a>

Alan Garten, general counsel for the Trump Organization, said in a statement that “this is just the latest fishing expedition in an ongoing attempt to harass the company.”

“Everything was done in strict compliance with applicable law and under the advice of counsel and tax experts,” he added. “All applicable taxes were paid and no party received any undue benefit.”

The IRS has sometimes rejected attempts to write off consulting fees if they were meant to avoid taxes and did not reflect arm's-length business relationships. It is not known if the IRS has ever questioned the Trump Organization about the practice. The tax benefit to Donald Trump from deducting the fees on his companies’ federal returns would also be reflected on his New York returns, making it of possible interest to the state.

A tax adviser who has worked with the Trump Organization said that such consulting fees were not uncommon.

Also read|&nbsp;<a href="https://www.wionews.com/world/donald-trumps-daughter-in-law-lara-may-run-for-senate-in-north-carolina-344241" hreflang="en">Donald Trump's daughter-in-law, Lara, may run for Senate in North Carolina</a>

The offices of the district attorney and the attorney general declined to comment. Ivanka Trump did not respond to requests for comment but said on Twitter after publication that “there was no tax benefit whatsoever.”

Few details have been publicly disclosed about the district attorney’s investigation, the only known active criminal case involving Donald Trump. Vance’s office began the inquiry more than two years ago, initially focusing on the Trump Organization’s role in hush money paid during the 2016 presidential campaign to Stormy Daniels, a pornographic film actress who claimed to have had an affair with Trump.

The investigation has been stalled since last fall, after the president filed a lawsuit to block a subpoena for his tax returns and other financial records.

Also read|&nbsp;<a href="https://www.wionews.com/world/dont-be-embarrassing-czech-president-asks-donald-trump-to-step-down-344233" hreflang="en">'Don't be embarrassing': Czech President asks Donald Trump to step down</a>

The legal fight is before the U.S. Supreme Court for a second time, with a ruling expected soon. Prosecutors have suggested in court filings that their investigation has expanded far beyond the hush money and is focused on a number of potential financial crimes, including insurance and bank-related fraud, tax evasion and grand larceny.

Trump has said the investigation is part of “the greatest witch hunt in history.” Both Vance and James are Democrats.

James’ civil investigation is focused on the Trump Organization’s business practices, though she can make a criminal referral and can seek authority from Gov. Andrew M. Cuomo’s administration or the state comptroller to bring charges on her own.

Her inquiry began last year in March, after Michael Cohen, the president’s former lawyer, told Congress that Trump had inflated his assets in financial statements to secure bank loans and understated them elsewhere to reduce his tax bill. In August, the attorney general’s office asked a judge to force the president’s son Eric Trump to testify in the inquiry, and he did so last month. Eric Trump is an executive vice president at the Trump Organization, running its day-to-day operations.

Investigators in James’ office have scrutinized a widening array of transactions. One of them is a 2010 financial restructuring of the Trump Hotel &amp; Tower in Chicago, when the Fortress Credit Corp. forgave debt worth more than $100 million. The attorney general’s office said in court documents filed in August that the Trump Organization had thwarted efforts to determine how that money was reflected in its tax filings, and whether it was declared as income, as the law requires in most instances. The Times’ analysis of Trump’s financial records found that he had avoided federal income tax on almost all of the forgiven debt.

The attorney general’s office is also examining whether the Trump Organization used inflated appraisals when it received large tax breaks for promising to conserve land where its development efforts faltered, including at its Seven Springs estate in Westchester County, New York.

“The outcome of the election will have no impact on our investigations,” James said in a television interview this month, adding: “No one is above the law. We will just follow the facts and the evidence, wherever they lead us.”

Two separate New York state fraud investigations into President Donald Trump and his businesses, one criminal and one civil, have expanded to include tax write-offs on millions of dollars in consulting fees, some of which appear to have gone to Ivanka Trump, according to people with knowledge of the matter.

Two separate New York state fraud investigations into President Donald Trump and his businesses, one criminal and one civil, have expanded to include tax write-offs on millions of dollars in consulting fees, some of which appear to have gone to Ivanka Trump, according to people with knowledge of the matter. The inquiries — a criminal investigation by Manhattan District Attorney Cyrus R. Vance Jr., and a civil one by state Attorney General Letitia James — are being conducted independently. But both offices issued subpoenas to the Trump Organization in recent weeks for records related to the fees, the people said. Also read| Donald Trump to address APEC summit a day after China's Xi Jinping The subpoenas were the latest steps in the two investigations of the Trump Organization, and underscore the legal challenges awaiting the president when he leaves office in January. There is no indication that his daughter is a focus of either inquiry, which the Trump Organization has derided as politically motivated. The development follows a recent New York Times examination of more than two decades of Donald Trump’s tax records, which found that he had paid little or no federal income taxes in most years, largely because of his chronic business losses. Among the revelations was that Trump reduced his taxable income by deducting about $26 million in fees to unidentified consultants as a business expense on numerous projects between 2010 and 2018. Also read| Donald Trump asks judge to declare him winner in Pennsylvania Some of those fees appear to have been paid to Ivanka Trump, The Times found. On a 2017 disclosure she filed when joining the White House as a presidential adviser, she reported receiving payments from a consulting company she co-owned, totaling $747,622, that exactly matched consulting fees claimed as tax deductions by the Trump Organization for hotel projects in Hawaii and Vancouver, British Columbia. The subpoenas were focused on fees paid to the firm on her disclosures, TTT Consulting LLC, and represented just a portion of the $26 million, according to a person with knowledge of the matter. The name of the firm appears to be a reference to Ivanka Trump and other members of her family. Ivanka Trump was an executive officer of the Trump companies that made the payments, meaning she appears to have been treated as a consultant while also working for the company. While companies can deduct professional fees, the Internal Revenue Service requires that consulting arrangements be market-based and reasonable, as well as “ordinary and necessary” to running a business. Also read| Ivanka Trump is narcissistic and obsessed with status, like Donald: Former friend Alan Garten, general counsel for the Trump Organization, said in a statement that “this is just the latest fishing expedition in an ongoing attempt to harass the company.” “Everything was done in strict compliance with applicable law and under the advice of counsel and tax experts,” he added. “All applicable taxes were paid and no party received any undue benefit.” The IRS has sometimes rejected attempts to write off consulting fees if they were meant to avoid taxes and did not reflect arm's-length business relationships. It is not known if the IRS has ever questioned the Trump Organization about the practice. The tax benefit to Donald Trump from deducting the fees on his companies’ federal returns would also be reflected on his New York returns, making it of possible interest to the state. A tax adviser who has worked with the Trump Organization said that such consulting fees were not uncommon. Also read| Donald Trump's daughter-in-law, Lara, may run for Senate in North Carolina The offices of the district attorney and the attorney general declined to comment. Ivanka Trump did not respond to requests for comment but said on Twitter after publication that “there was no tax benefit whatsoever.” Few details have been publicly disclosed about the district attorney’s investigation, the only known active criminal case involving Donald Trump. Vance’s office began the inquiry more than two years ago, initially focusing on the Trump Organization’s role in hush money paid during the 2016 presidential campaign to Stormy Daniels, a pornographic film actress who claimed to have had an affair with Trump. The investigation has been stalled since last fall, after the president filed a lawsuit to block a subpoena for his tax returns and other financial records. Also read| 'Don't be embarrassing': Czech President asks Donald Trump to step down The legal fight is before the U.S. Supreme Court for a second time, with a ruling expected soon. Prosecutors have suggested in court filings that their investigation has expanded far beyond the hush money and is focused on a number of potential financial crimes, including insurance and bank-related fraud, tax evasion and grand larceny. Trump has said the investigation is part of “the greatest witch hunt in history.” Both Vance and James are Democrats. James’ civil investigation is focused on the Trump Organization’s business practices, though she can make a criminal referral and can seek authority from Gov. Andrew M. Cuomo’s administration or the state comptroller to bring charges on her own. Her inquiry began last year in March, after Michael Cohen, the president’s former lawyer, told Congress that Trump had inflated his assets in financial statements to secure bank loans and understated them elsewhere to reduce his tax bill. In August, the attorney general’s office asked a judge to force the president’s son Eric Trump to testify in the inquiry, and he did so last month. Eric Trump is an executive vice president at the Trump Organization, running its day-to-day operations. Investigators in James’ office have scrutinized a widening array of transactions. One of them is a 2010 financial restructuring of the Trump Hotel & Tower in Chicago, when the Fortress Credit Corp. forgave debt worth more than $100 million. The attorney general’s office said in court documents filed in August that the Trump Organization had thwarted efforts to determine how that money was reflected in its tax filings, and whether it was declared as income, as the law requires in most instances. The Times’ analysis of Trump’s financial records found that he had avoided federal income tax on almost all of the forgiven debt. The attorney general’s office is also examining whether the Trump Organization used inflated appraisals when it received large tax breaks for promising to conserve land where its development efforts faltered, including at its Seven Springs estate in Westchester County, New York. “The outcome of the election will have no impact on our investigations,” James said in a television interview this month, adding: “No one is above the law. We will just follow the facts and the evidence, wherever they lead us.”

Trump tax write-offs are ensnared in 2 New York fraud investigations

Actor Rajinikanth has tweeted that he could have avoided a mistake and appealed to the Chennai Corporation over a Property Tax dispute, rather than approaching the Madras High Court.

This comes a day after the Court had warned Rajini of imposing costs upon him for having rushed to the Court instead of sending a reminder to the civic body. He tweeted out his regret with a hashtag in Tamil, which translates ‘experience is a lesson’. &nbsp;

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ராகவேந்திரா மண்டப சொத்து வரி... 
 
நாம் மாநகராட்சியில் மேல்முறையீடு செய்திருக்க வேண்டும். 
 
தவறைத் தவிர்த்திருக்கலாம்.<a href="https://twitter.com/hashtag/%E0%AE%85%E0%AE%A9%E0%AF%81%E0%AE%AA%E0%AE%B5%E0%AE%AE%E0%AF%87_%E0%AE%AA%E0%AE%BE%E0%AE%9F%E0%AE%AE%E0%AF%8D?src=hash&amp;ref_src=twsrc%5Etfw">#அனுபவமே_பாடம்</a>
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The issue pertains to a Property tax demand of Rs.6.5 lakhs made by the Greater Chennai Corporation for the months April-September on the Raghavendra Marriage hall, which the actor owns.&nbsp;

His counsel had stated that once the pandemic broke out and lockdown restrictions were imposed by Central and State Government, Rajini’s marriage hall had remained vacant and was not rented out since March 24th.&nbsp;

<a href="https://www.wionews.com/india-news/rajinikanth-to-withdraw-case-against-property-tax-after-court-warns-of-imposing-cost-335167">Also read:&nbsp;Rajinikanth to withdraw case against property tax after court warns of imposing cost</a>

It was mentioned that the actor had cancelled all bookings at the marriage hall after March 24th (Lockdown 1) and even refunded the advance money in line with government instructions. The actor stated that he was entitled to vacancy remission and that he had sent a notice in this regard to the Corporation on September 23rd and that there was no reply.&nbsp;

Responding to this, Justice Anita Sumanth warned the actor that costs would be imposed upon him for having rushed to the Court, hardly ten days after he had sent a notice to the Corporation. It was also added that the actor ought to have sent a reminder to the civic body.

Actor Rajinikanth’s counsel has informed the Madras High Court that they would be withdrawing the writ petition challenging the Rs.6.5 lakh property tax imposed by the Chennai Corporation, upon the Raghavendra Marriage hall that he owns.

Actor Rajinikanth has tweeted that he could have avoided a mistake and appealed to the Chennai Corporation over a Property Tax dispute, rather than approaching the Madras High Court.

Actor Rajinikanth has tweeted that he could have avoided a mistake and appealed to the Chennai Corporation over a Property Tax dispute, rather than approaching the Madras High Court. This comes a day after the Court had warned Rajini of imposing costs upon him for having rushed to the Court instead of sending a reminder to the civic body. He tweeted out his regret with a hashtag in Tamil, which translates ‘experience is a lesson’. ராகவேந்திரா மண்டப சொத்து வரி... நாம் மாநகராட்சியில் மேல்முறையீடு செய்திருக்க வேண்டும். தவறைத் தவிர்த்திருக்கலாம்.#அனுபவமே_பாடம் — Rajinikanth (@rajinikanth) October 15, 2020 × The issue pertains to a Property tax demand of Rs.6.5 lakhs made by the Greater Chennai Corporation for the months April-September on the Raghavendra Marriage hall, which the actor owns. His counsel had stated that once the pandemic broke out and lockdown restrictions were imposed by Central and State Government, Rajini’s marriage hall had remained vacant and was not rented out since March 24th. Also read: Rajinikanth to withdraw case against property tax after court warns of imposing cost It was mentioned that the actor had cancelled all bookings at the marriage hall after March 24th (Lockdown 1) and even refunded the advance money in line with government instructions. The actor stated that he was entitled to vacancy remission and that he had sent a notice in this regard to the Corporation on September 23rd and that there was no reply. Responding to this, Justice Anita Sumanth warned the actor that costs would be imposed upon him for having rushed to the Court, hardly ten days after he had sent a notice to the Corporation. It was also added that the actor ought to have sent a reminder to the civic body. Actor Rajinikanth’s counsel has informed the Madras High Court that they would be withdrawing the writ petition challenging the Rs.6.5 lakh property tax imposed by the Chennai Corporation, upon the Raghavendra Marriage hall that he owns.

Rajinikanth tweets 'Could’ve avoided mistake' after court warned of imposing cost

Norway’s tipplers and sweet tooths may no longer feel a need to leave the country to stock up on their favourite vices.

The Nordic country's ruling party has proposed cutting its famously high "sin" taxes on alcohol, cigarettes and sweets and other consumer goods after the coronavirus lockdown showed how much business is lost every year to Norwegians flocking to neighbouring Sweden to snap up such items at cheaper prices.

Restrictions on travel between the Nordic neighbours imposed to contain transmissions of the coronavirus triggered a jump in retail sales, especially in regions bordering Sweden.

Norwegian authorities are keen to keep that trade humming to mitigate the economic downturn inflicted by the pandemic, even after any return to the open borders that have prevailed for almost 70 years of economic integration in the Nordic region.

Norway sealed its borders to all non-residents in mid-March before easing movement from June but imposing a 10-day quarantine on those returning from abroad, a rule that continues to deter traditional shopping runs to Sweden.

"The closure of borders because of the coronavirus created a full-scale experiment in what happens when all trade is moved back to Norway," said Vetle Wang Soleim, a Conservative MP on a party committee that presented the tax cut proposal.

Trade from Norwegians buying goods in Sweden plummeted by 99% in the April-June period compared with the year-ago period, Statistics Norway data showed.

Nationwide, retail sales rose 10% in April-July, and 20% or more in some regions bordering Sweden already in March.

The tax cut initiative has been presented as a way to recapture trade lost to Sweden since the pandemic has shown high "sin levies" were not necessarily deterring Norwegians from indulging in booze, cigarettes and chocolates.

"For us now, the most important priority is to move jobs back to Norway. We just prefer them to buy these goods on the Norwegian side of the border," Wang Soleim told Reuters.

Food in Norway is broadly 35% more expensive than in Sweden, and alcohol prices 67% higher, according to Statistics Norway.

In a scenario where cross-border trade stopped indefinitely, Norway would boost revenues from food, drink and other consumer good sales by at least $1.3 billion, according to an analysis by consultancy Menon Economics.

It would also mean 8,200 new jobs and $410 million more in tax revenue on top of the special levies on alcohol, sugar and tobacco, it said.

Cigarettes, soda fly off the racks

In Sarpsborg, an industrial town in Norway's southeast 30 km (19 miles) from the Swedish frontier, staff at the Kiwi supermarket have been scrambling to cope with surging footfall, with sales rocketing by 85% in April-August.

"We are selling much more of everything now - especially minced meat, an extreme amount of soda, cigarettes and snuff tobacco," said store manager Carina Andresen.

"We have always known there were many people who went to shop in Sweden, but not that it was so many, and for so much."

In Halden, a town 12 km from the border, sales at the local wine and liquor store tripled during the summer months compared with last year, with vodka priced at 400 crowns ($42) a litre snapped up by more tourists and holiday cabin owners.

"We also sell much more boxed wine. People don't just buy one or two boxes, but four or five at a time," said store manager Anneli Christiansen, who had to hire four more staff at the start of lockdown in March to handle soaring demand.

"So empty" on Swedish side

Towns on the Swedish side of the border, by contrast are starved of trade these days.

Many shopping malls sprang up in recent decades to cater almost exclusively to Norwegians, but now sit nearly empty.

In the municipality of Aarjaeng, trade with Norway supports about a third of jobs, said municipal board chairman Daniel Schuetzer. "It has been so empty in the area. There is a certain resignation - people wonder how they are going to make ends meet when a large part of your market disappears overnight."

Others worry about future ties between two countries that have placed free movement of people and goods at the core of their relationship, well before much of the rest of Europe did.

Georg Andren, governor of Sweden's Vaermland region, said that companies may be less willing to invest there, and, in the longer term, "what is at stake is the social fabric".

The Norwegian Conservatives' proposed tax cut has elicited broad political support, although their coalition ally the Christian Democrats oppose lowering levies on alcohol.

The rightist opposition Progress Party, which generally backs government budgets, has swung behind the proposal in keeping with its view that Norwegians' heavy tax burden should be eased across the board.

Norway’s tipplers and sweet tooths may no longer feel a need to leave the country to stock up on their favourite vices. The Nordic country's ruling party has proposed cutting its famously high "sin" taxes on alcohol, cigarettes and sweets and other consumer goods after the coronavirus lockdown showed how much business is lost every year to Norwegians flocking to neighbouring Sweden to snap up such items at cheaper prices.

Norway’s tipplers and sweet tooths may no longer feel a need to leave the country to stock up on their favourite vices. The Nordic country's ruling party has proposed cutting its famously high "sin" taxes on alcohol, cigarettes and sweets and other consumer goods after the coronavirus lockdown showed how much business is lost every year to Norwegians flocking to neighbouring Sweden to snap up such items at cheaper prices. Restrictions on travel between the Nordic neighbours imposed to contain transmissions of the coronavirus triggered a jump in retail sales, especially in regions bordering Sweden. Norwegian authorities are keen to keep that trade humming to mitigate the economic downturn inflicted by the pandemic, even after any return to the open borders that have prevailed for almost 70 years of economic integration in the Nordic region. Norway sealed its borders to all non-residents in mid-March before easing movement from June but imposing a 10-day quarantine on those returning from abroad, a rule that continues to deter traditional shopping runs to Sweden. "The closure of borders because of the coronavirus created a full-scale experiment in what happens when all trade is moved back to Norway," said Vetle Wang Soleim, a Conservative MP on a party committee that presented the tax cut proposal. Trade from Norwegians buying goods in Sweden plummeted by 99% in the April-June period compared with the year-ago period, Statistics Norway data showed. Nationwide, retail sales rose 10% in April-July, and 20% or more in some regions bordering Sweden already in March. The tax cut initiative has been presented as a way to recapture trade lost to Sweden since the pandemic has shown high "sin levies" were not necessarily deterring Norwegians from indulging in booze, cigarettes and chocolates. "For us now, the most important priority is to move jobs back to Norway. We just prefer them to buy these goods on the Norwegian side of the border," Wang Soleim told Reuters. Food in Norway is broadly 35% more expensive than in Sweden, and alcohol prices 67% higher, according to Statistics Norway. In a scenario where cross-border trade stopped indefinitely, Norway would boost revenues from food, drink and other consumer good sales by at least $1.3 billion, according to an analysis by consultancy Menon Economics. It would also mean 8,200 new jobs and $410 million more in tax revenue on top of the special levies on alcohol, sugar and tobacco, it said. Cigarettes, soda fly off the racks In Sarpsborg, an industrial town in Norway's southeast 30 km (19 miles) from the Swedish frontier, staff at the Kiwi supermarket have been scrambling to cope with surging footfall, with sales rocketing by 85% in April-August. "We are selling much more of everything now - especially minced meat, an extreme amount of soda, cigarettes and snuff tobacco," said store manager Carina Andresen. "We have always known there were many people who went to shop in Sweden, but not that it was so many, and for so much." In Halden, a town 12 km from the border, sales at the local wine and liquor store tripled during the summer months compared with last year, with vodka priced at 400 crowns ($42) a litre snapped up by more tourists and holiday cabin owners. "We also sell much more boxed wine. People don't just buy one or two boxes, but four or five at a time," said store manager Anneli Christiansen, who had to hire four more staff at the start of lockdown in March to handle soaring demand. "So empty" on Swedish side Towns on the Swedish side of the border, by contrast are starved of trade these days. Many shopping malls sprang up in recent decades to cater almost exclusively to Norwegians, but now sit nearly empty. In the municipality of Aarjaeng, trade with Norway supports about a third of jobs, said municipal board chairman Daniel Schuetzer. "It has been so empty in the area. There is a certain resignation - people wonder how they are going to make ends meet when a large part of your market disappears overnight." Others worry about future ties between two countries that have placed free movement of people and goods at the core of their relationship, well before much of the rest of Europe did. Georg Andren, governor of Sweden's Vaermland region, said that companies may be less willing to invest there, and, in the longer term, "what is at stake is the social fabric". The Norwegian Conservatives' proposed tax cut has elicited broad political support, although their coalition ally the Christian Democrats oppose lowering levies on alcohol. The rightist opposition Progress Party, which generally backs government budgets, has swung behind the proposal in keeping with its view that Norwegians' heavy tax burden should be eased across the board.

Norway to stop 'sin tax' on alcohol, sodas due to travel restrictions amid pandemic

Prime Minister Narendra Modi on Thursday launched 'Transparent Taxation - Honoring the Honest' platform. He said it will strengthen efforts of "reforming and simplifying India's tax system".&nbsp; 
 
<a href="https://www.wionews.com/business-economy/faceless-assessment-taxpayer-charter-has-come-into-force-from-today-pm-modi-320130">Also read: Faceless assessment, taxpayer charter has come into force from today, says PM Modi</a> 
 
The focus of the tax reforms has been on reduction in tax rates and on simplification of direct tax laws. 
 
"Our tax system should be seamless, painless and faceless. Seamless means that the tax administration should work to solve the problem instead of confusing taxpayers," PM said.

Speaking about the tax reforms announced by the Centre, PM said, "Taxes have also been reduced in the country along with the complexities of procedures. Tax is now zero on income of up to 5 lakh rupees. The tax has also been reduced in the remaining slabs. We are one of the lowest tax consuming countries in the world in terms of corporate tax."

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<a href="https://twitter.com/hashtag/FacelessAsssessment?src=hash&amp;ref_src=twsrc%5Etfw">#FacelessAsssessment</a> has benefits like making tax assessment fair,transparent,ensuring ease of compliance &amp; improved quality of assessment. No more physical interface. No more visits to IT office.Reply to be filed online. Expeditious &amp; efficient disposal.(5/7)<a href="https://twitter.com/hashtag/HonoringTheHonest?src=hash&amp;ref_src=twsrc%5Etfw">#HonoringTheHonest</a> <a href="https://t.co/zVo4De8V5Q">pic.twitter.com/zVo4De8V5Q</a>
— Ministry of Finance (@FinMinIndia) <a href="https://twitter.com/FinMinIndia/status/1293797398024605696?ref_src=twsrc%5Etfw">August 13, 2020</a></blockquote>
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The facility of faceless appeal will be available for citizens across the country from September 25. Today as the tax system is becoming faceless, it is giving more confidence to the taxpayer of fairness and fearlessness.&nbsp; 
 
"The trend of structural reforms in the country has reached a new stage today. Transparent Taxation - Honoring the Honest, this new system of the 21st-century tax system has been launched today," he said.&nbsp;

Several initiatives have been taken by the Central Board of Direct Taxes (CBDT) to bring efficiency and transparency in the functioning of the Income Tax (IT) department, according to officials.

The Prime Minister will also unveil the next phase of direct tax reforms aimed at easing compliance and rewarding honest taxpayers in a bid to rebuild Indian economy, which has been hit by the coronavirus pandemic and the resultant lockdown. 
 
(With inputs from agencies)

Prime Minister Narendra Modi on Thursday launched 'Transparent Taxation - Honoring the Honest' platform. He said it will strengthen efforts of "reforming and simplifying India's tax system".

Prime Minister Narendra Modi on Thursday launched 'Transparent Taxation - Honoring the Honest' platform. He said it will strengthen efforts of "reforming and simplifying India's tax system". Also read: Faceless assessment, taxpayer charter has come into force from today, says PM Modi The focus of the tax reforms has been on reduction in tax rates and on simplification of direct tax laws. "Our tax system should be seamless, painless and faceless. Seamless means that the tax administration should work to solve the problem instead of confusing taxpayers," PM said. Speaking about the tax reforms announced by the Centre, PM said, "Taxes have also been reduced in the country along with the complexities of procedures. Tax is now zero on income of up to 5 lakh rupees. The tax has also been reduced in the remaining slabs. We are one of the lowest tax consuming countries in the world in terms of corporate tax." #FacelessAsssessment has benefits like making tax assessment fair,transparent,ensuring ease of compliance & improved quality of assessment. No more physical interface. No more visits to IT office.Reply to be filed online. Expeditious & efficient disposal.(5/7)#HonoringTheHonest pic.twitter.com/zVo4De8V5Q — Ministry of Finance (@FinMinIndia) August 13, 2020 × The facility of faceless appeal will be available for citizens across the country from September 25. Today as the tax system is becoming faceless, it is giving more confidence to the taxpayer of fairness and fearlessness. "The trend of structural reforms in the country has reached a new stage today. Transparent Taxation - Honoring the Honest, this new system of the 21st-century tax system has been launched today," he said. Several initiatives have been taken by the Central Board of Direct Taxes (CBDT) to bring efficiency and transparency in the functioning of the Income Tax (IT) department, according to officials. The Prime Minister will also unveil the next phase of direct tax reforms aimed at easing compliance and rewarding honest taxpayers in a bid to rebuild Indian economy, which has been hit by the coronavirus pandemic and the resultant lockdown. (With inputs from agencies)

PM Modi unveils 'fundamental reforms' for taxpayers; faceless appeals to start from September 25

Prime Minister Narendra Modi on Thursday emphasised the role of tax compliance in nation-building and said the government is following a policy-driven governance model.

"The emphasis is on making every rule-law, policy people-centric, and public friendly. This is the use of the new governance model and the country is getting its results," he said while speaking at the launch of a platform for "Transparent Taxation-Honoring the Honest".&nbsp;

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<a href="https://twitter.com/hashtag/FacelessAsssessment?src=hash&amp;ref_src=twsrc%5Etfw">#FacelessAsssessment</a> has benefits like making tax assessment fair,transparent,ensuring ease of compliance &amp; improved quality of assessment. No more physical interface. No more visits to IT office.Reply to be filed online. Expeditious &amp; efficient disposal.(5/7)<a href="https://twitter.com/hashtag/HonoringTheHonest?src=hash&amp;ref_src=twsrc%5Etfw">#HonoringTheHonest</a> <a href="https://t.co/zVo4De8V5Q">pic.twitter.com/zVo4De8V5Q</a>
— Ministry of Finance (@FinMinIndia) <a href="https://twitter.com/FinMinIndia/status/1293797398024605696?ref_src=twsrc%5Etfw">August 13, 2020</a></blockquote>
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The Prime Minister said that the new tax system is going to become faceless and this will give a belief of fairness and fearlessness to taxpayers.&nbsp;

"The trend of structural reforms in the country has reached a new stage today. Transparent Taxation - Honoring the Honest, this new system of the 21st-century tax system has been launched today," he said.&nbsp;

"The platform has major reforms like faceless assessment, faceless appeal and taxpayers’ charter. Faceless assessment and taxpayers charter has come into force from today. The facility of faceless appeal will be available for citizens from September 25 on the birth anniversary of Pt Deen Dayal Upadhaya," he added.&nbsp;

"Now the tax system is going to become faceless but this will give believe to fairness and fearlessness to taxpayers. In the last 6 years, our focus was banking the unbank, securing the unsecured, funding the unfunded," said Modi.&nbsp;

"A new journey is beginning today honouring the honest. Country`s honest taxpayers play an important role in nation-building. New facilities beginning from today establishes our commitment to minimum government and maximum governance," he added.&nbsp;

Meanwhile, Union Finance Minister Nirmala Sitharaman said that the initiative is a landmark in the history of tax administration.

"The Prime Minister`s vision is to empower taxpayers, to provide a transparent system and to honour the honest taxpayer. To realise this vision, CBDT has given a framework and put in a place a system in the form of this platform," she said.&nbsp;

"A transparent, efficient and accountable tax administration is what this platform brings it. It uses technology, data analytic and also uses artificial intelligence. It eases compliance burden, brings fair, objective and just system," the Minister added.&nbsp;

According to a release of the Prime Minister`s Office (PMO), the Central Board of Direct Taxes (CBDT) has carried out several major tax reforms in direct taxes in recent years.

Last year, the corporate tax rates were reduced from 30 per cent to 22 per cent and for new manufacturing units, the rates were reduced to 15 per cent. Dividend distribution tax was also abolished.The focus of the tax reforms has been on reduction in tax rates and on simplification of direct tax laws.&nbsp;

Several initiatives have been taken by the CBDT for bringing in efficiency and transparency in the functioning of the IT Department. This includes bringing more transparency in official communication through the newly introduced Document Identification Number (DIN) wherein every communication of the Department would carry a computer generated unique document identification number.

Similarly, to increase the ease of compliance for taxpayers, IT Department has moved forward with the prefilling of income tax returns to make compliance more convenient for individual taxpayers. Compliance norms for startups have also been simplified.

With a view to provide for the resolution of pending tax disputes the IT Department also brought out the Direct Tax "Vivad se Vishwas Act, 2020" under which declarations for settling disputes are being filed currently.&nbsp;

To effectively reduce taxpayer grievances/litigation, the monetary thresholds for filing of departmental appeals in various appellate Courts have been raised.Several measures have been taken to promote digital transactions and electronic modes of payment.&nbsp;

The IT department is committed to take the initiatives forward and has also made efforts to ease compliances for taxpayers during the COVID times by extending statutory timeliness for filing returns as also releasing refunds expeditiously to increase liquidity in the hands of taxpayers.

Prime Minister Narendra Modi on Thursday emphasised the role of tax compliance in nation-building and said the government is following a policy-driven governance model.

Prime Minister Narendra Modi on Thursday emphasised the role of tax compliance in nation-building and said the government is following a policy-driven governance model. "The emphasis is on making every rule-law, policy people-centric, and public friendly. This is the use of the new governance model and the country is getting its results," he said while speaking at the launch of a platform for "Transparent Taxation-Honoring the Honest". #FacelessAsssessment has benefits like making tax assessment fair,transparent,ensuring ease of compliance & improved quality of assessment. No more physical interface. No more visits to IT office.Reply to be filed online. Expeditious & efficient disposal.(5/7)#HonoringTheHonest pic.twitter.com/zVo4De8V5Q — Ministry of Finance (@FinMinIndia) August 13, 2020 × The Prime Minister said that the new tax system is going to become faceless and this will give a belief of fairness and fearlessness to taxpayers. "The trend of structural reforms in the country has reached a new stage today. Transparent Taxation - Honoring the Honest, this new system of the 21st-century tax system has been launched today," he said. "The platform has major reforms like faceless assessment, faceless appeal and taxpayers’ charter. Faceless assessment and taxpayers charter has come into force from today. The facility of faceless appeal will be available for citizens from September 25 on the birth anniversary of Pt Deen Dayal Upadhaya," he added. "Now the tax system is going to become faceless but this will give believe to fairness and fearlessness to taxpayers. In the last 6 years, our focus was banking the unbank, securing the unsecured, funding the unfunded," said Modi. "A new journey is beginning today honouring the honest. Country`s honest taxpayers play an important role in nation-building. New facilities beginning from today establishes our commitment to minimum government and maximum governance," he added. Meanwhile, Union Finance Minister Nirmala Sitharaman said that the initiative is a landmark in the history of tax administration. "The Prime Minister`s vision is to empower taxpayers, to provide a transparent system and to honour the honest taxpayer. To realise this vision, CBDT has given a framework and put in a place a system in the form of this platform," she said. "A transparent, efficient and accountable tax administration is what this platform brings it. It uses technology, data analytic and also uses artificial intelligence. It eases compliance burden, brings fair, objective and just system," the Minister added. According to a release of the Prime Minister`s Office (PMO), the Central Board of Direct Taxes (CBDT) has carried out several major tax reforms in direct taxes in recent years. Last year, the corporate tax rates were reduced from 30 per cent to 22 per cent and for new manufacturing units, the rates were reduced to 15 per cent. Dividend distribution tax was also abolished.The focus of the tax reforms has been on reduction in tax rates and on simplification of direct tax laws. Several initiatives have been taken by the CBDT for bringing in efficiency and transparency in the functioning of the IT Department. This includes bringing more transparency in official communication through the newly introduced Document Identification Number (DIN) wherein every communication of the Department would carry a computer generated unique document identification number. Similarly, to increase the ease of compliance for taxpayers, IT Department has moved forward with the prefilling of income tax returns to make compliance more convenient for individual taxpayers. Compliance norms for startups have also been simplified. With a view to provide for the resolution of pending tax disputes the IT Department also brought out the Direct Tax "Vivad se Vishwas Act, 2020" under which declarations for settling disputes are being filed currently. To effectively reduce taxpayer grievances/litigation, the monetary thresholds for filing of departmental appeals in various appellate Courts have been raised.Several measures have been taken to promote digital transactions and electronic modes of payment. The IT department is committed to take the initiatives forward and has also made efforts to ease compliances for taxpayers during the COVID times by extending statutory timeliness for filing returns as also releasing refunds expeditiously to increase liquidity in the hands of taxpayers.

Faceless assessment, taxpayer charter has come into force from today: PM Modi

Indonesia had added Facebook, Disney and TikTok to the list of technology companies that will be obligated to pay 10 per cent Value Added Tax (VAT) on sales to Indonesian customers.

The decision to add these companies in the list was announced in a tax report on Friday morning.

The statement came after last month the country's tax department announced a 10 per cent VAT on sales by technology companies.

<a href="https://www.wionews.com/world/microsoft-planning-to-buy-tiktoks-global-business-reports-318751">Also read:&nbsp;Microsoft planning to buy TikTok's global business: Reports</a>

The decision was made keeping in mind the shift in spending patterns of the&nbsp;270 million residents of Indonesia during the pandemic. This shift has caused financial difficulties for the government, that it aims to get rid of with this new tax plan.

Other organisations that are a part of the list are Amazon Netflix, Spotify, Google, three units of Facebook, Tiktok Pte Ltd, Apple Distribution International Ltd, The Walt Disney Company (Southeast Asia) Pte Ltd, and more of Amazon’s subsidiaries, including its audiobook unit Audible and its voice assistant Alexa.

Under Indonesia’s rules, non-resident foreign firms which sell digital products and services in Indonesia worth at least 600 million rupiah ($41,039.67) a year or which generate yearly traffic from at least 12,000 users will be required to pay the 10% VAT.

The companies added to the list on Friday have not issued a comment on the increase in tax.

The Indonesian government is expecting a huge drop of 13 per cent in its state revenue due to the ongoing pandemic.

Indonesia had added Facebook, Disney and TikTok to the list of technology companies that will be obligated to pay 10 per cent Value Added Tax (VAT) on sales to Indonesian customers.

Indonesia had added Facebook, Disney and TikTok to the list of technology companies that will be obligated to pay 10 per cent Value Added Tax (VAT) on sales to Indonesian customers. The decision to add these companies in the list was announced in a tax report on Friday morning. The statement came after last month the country's tax department announced a 10 per cent VAT on sales by technology companies. Also read: Microsoft planning to buy TikTok's global business: Reports The decision was made keeping in mind the shift in spending patterns of the 270 million residents of Indonesia during the pandemic. This shift has caused financial difficulties for the government, that it aims to get rid of with this new tax plan. Other organisations that are a part of the list are Amazon Netflix, Spotify, Google, three units of Facebook, Tiktok Pte Ltd, Apple Distribution International Ltd, The Walt Disney Company (Southeast Asia) Pte Ltd, and more of Amazon’s subsidiaries, including its audiobook unit Audible and its voice assistant Alexa. Under Indonesia’s rules, non-resident foreign firms which sell digital products and services in Indonesia worth at least 600 million rupiah ($41,039.67) a year or which generate yearly traffic from at least 12,000 users will be required to pay the 10% VAT. The companies added to the list on Friday have not issued a comment on the increase in tax. The Indonesian government is expecting a huge drop of 13 per cent in its state revenue due to the ongoing pandemic.

Indonesia asks Facebook, TikTok and Disney to pay 10% VAT: Tax reports

Highlighting that UK govt does understand the "importance" of Vijay Mallya case, the new British High Commission to India Sir Philip Barton has said," criminals can’t escape justice after crossing national borders"

Sir Philip Barton said, "The UK, UK govt, and these are calls who are independent of govt, absolutely clear around roles in preventing people from avoiding justice by moving countries. We are determined to play our part. In any case, to make sure we are working together to make sure criminals can't escape justice when crossing national borders."

Adding, “I do understand, and UK govt understands the importance of the case."

On both extradition of the fugitive and his reported asylum plea, the envoy said, he has "nothing to say" given it’s an ongoing process. New Delhi has been in touch with UK side for his "early" extradition.

Vijay Mallya's leave to appeal against extradition in UK Supreme Court was rejected earlier this year ago leaving no further legal remedy in the country.

It now up to the UK home secretary Priti Patel to give a final go-ahead by signing on the extradition papers. Mallya had committed a fraud of Rs 9,000 crore on a consortium of Indian banks. India had requested UK govt not to consider fugitive businessman Vijay Mallya's request.

Ministry of External Affairs spokesperson Anurag Srivastava few weeks ago said, “we have requested the UK side not consider his asylum if requested by him" because there appear to be "no ground for his persecution" in India. &nbsp;

The envoy also responded to a question on the India China situation at the Line of Actual Control (LAC) saying, London has seen "progress" and "commitments during SR level talks are welcome. It is encouraging. There is de-escalation, tensions seem to ease. Hope we won't see a change in that”.

On the current London- Beijing tiff, over China-backed national security law for Hong Kong, the envoy said, ‘We don't have a border with China, we do have responsibility for Hong Kong. The new security law is a violation of the UK-China declaration. We also have concerns about Uighurs in Xinjiang."

The UK handed over Hong Kong to China in 1997 after the end of the 99-year lease.

Highlighting that UK govt does understand the "importance" of Vijay Mallya case, the new British High Commission to India Sir Philip Barton has said," criminals can’t escape justice after crossing national borders" Sir Philip Barton said, "The UK, UK govt, and these are calls who are independent of govt, absolutely clear around roles in preventing people from avoiding justice by moving countries.

Highlighting that UK govt does understand the "importance" of Vijay Mallya case, the new British High Commission to India Sir Philip Barton has said," criminals can’t escape justice after crossing national borders" Sir Philip Barton said, "The UK, UK govt, and these are calls who are independent of govt, absolutely clear around roles in preventing people from avoiding justice by moving countries. We are determined to play our part. In any case, to make sure we are working together to make sure criminals can't escape justice when crossing national borders." Adding, “I do understand, and UK govt understands the importance of the case." On both extradition of the fugitive and his reported asylum plea, the envoy said, he has "nothing to say" given it’s an ongoing process. New Delhi has been in touch with UK side for his "early" extradition. Vijay Mallya's leave to appeal against extradition in UK Supreme Court was rejected earlier this year ago leaving no further legal remedy in the country. It now up to the UK home secretary Priti Patel to give a final go-ahead by signing on the extradition papers. Mallya had committed a fraud of Rs 9,000 crore on a consortium of Indian banks. India had requested UK govt not to consider fugitive businessman Vijay Mallya's request. Ministry of External Affairs spokesperson Anurag Srivastava few weeks ago said, “we have requested the UK side not consider his asylum if requested by him" because there appear to be "no ground for his persecution" in India. The envoy also responded to a question on the India China situation at the Line of Actual Control (LAC) saying, London has seen "progress" and "commitments during SR level talks are welcome. It is encouraging. There is de-escalation, tensions seem to ease. Hope we won't see a change in that”. On the current London- Beijing tiff, over China-backed national security law for Hong Kong, the envoy said, ‘We don't have a border with China, we do have responsibility for Hong Kong. The new security law is a violation of the UK-China declaration. We also have concerns about Uighurs in Xinjiang." The UK handed over Hong Kong to China in 1997 after the end of the 99-year lease.

Criminals can’t escape justice after crossing national borders, says UK envoy on Vijay Mallya

Maria Ressa, a journalist who runs a Philippine news website known for its tough scrutiny of President Rodrigo Duterte, pleaded not guilty on Wednesday to tax evasion charges in a case she has described as a form of harassment.&nbsp;

Ressa, a Time Magazine Person of the Year in 2018 for fighting media intimidation, is facing several government lawsuits that have caused international concern about harassment of journalists in the Philippines, a country long seen as a standard bearer for press freedom in Asia.&nbsp;

Ressa, 56, who is chief executive of the news site Rappler, was convicted of libel last month and sentenced to up to six year in prison, a ruling widely seen as a blow to democratic freedoms under Duterte's increasingly popular authoritarianism. She was freed on bail.

Rappler has repeatedly challenged the accuracy of Duterte's public statements and his justification for his controversial foreign policy.

It has also reported on alleged atrocities in his war on drugs and probed what it says are massive, state-orchestrated social media hate campaigns against Duterte's critics.

Also read:&nbsp;<a href="/world/duterte-critic-journalist-maria-ressa-found-guilty-in-philippines-cyber-libel-case-305887" hreflang="en">Duterte-critic journalist Maria Ressa found guilty in Philippines cyber libel case</a>

Duterte has publicly lashed out at Rappler, calling it a "fake news outlet" sponsored by American spies.&nbsp;

Ressa's latest court appearance is over accusations Rappler falsified tax returns by omitting the proceeds of a sale of depositary receipts to foreign investors, which later became the securities regulator's basis to revoke its license.&nbsp;

Ressa, a dual U.S.-Filipino citizen, said in a tweet on Wednesday: "pleaded NOT GUILTY".&nbsp;

The securities regulator alleged it was a scheme by Rappler to allow foreigners to illegally own shares in a domestic media firm.

Also read:&nbsp;<a href="/world/philippines-arrests-president-duterte-critic-journalist-maria-ressa-on-libel-charge-197186" hreflang="en">Philippines arrests Duterte critic, journalist Maria Ressa, on libel charge</a>

Rappler, a startup, has maintained foreigners never owned shares, but were allowed to invest without voting rights or involvement in operations. Rappler is still operating pending its appeal against its license being revoked.

Media watchdogs and human rights activists say the charges against Ressa are part of a broader strategy to silence or humiliate opponents of Duterte.

Earlier this month, his allies in Congress voted overwhelmingly in favour of denying top broadcaster ABS-CBN's bid to renew its 25-year license, an outcome that Duterte had repeatedly promised would happen because of its refusal to air some of his election campaign commercials.&nbsp;

Presidential spokesman Harry Roque says Duterte supports freedom of speech and any media facing legal cases are for breaking the law, not for their reporting.

Maria Ressa, a journalist who runs a Philippine news website known for its tough scrutiny of President Rodrigo Duterte, pleaded not guilty on Wednesday to tax evasion charges in a case she has described as a form of harassment.

Maria Ressa, a journalist who runs a Philippine news website known for its tough scrutiny of President Rodrigo Duterte, pleaded not guilty on Wednesday to tax evasion charges in a case she has described as a form of harassment. Ressa, a Time Magazine Person of the Year in 2018 for fighting media intimidation, is facing several government lawsuits that have caused international concern about harassment of journalists in the Philippines, a country long seen as a standard bearer for press freedom in Asia. Ressa, 56, who is chief executive of the news site Rappler, was convicted of libel last month and sentenced to up to six year in prison, a ruling widely seen as a blow to democratic freedoms under Duterte's increasingly popular authoritarianism. She was freed on bail. Rappler has repeatedly challenged the accuracy of Duterte's public statements and his justification for his controversial foreign policy. It has also reported on alleged atrocities in his war on drugs and probed what it says are massive, state-orchestrated social media hate campaigns against Duterte's critics. Also read: Duterte-critic journalist Maria Ressa found guilty in Philippines cyber libel case Duterte has publicly lashed out at Rappler, calling it a "fake news outlet" sponsored by American spies. Ressa's latest court appearance is over accusations Rappler falsified tax returns by omitting the proceeds of a sale of depositary receipts to foreign investors, which later became the securities regulator's basis to revoke its license. Ressa, a dual U.S.-Filipino citizen, said in a tweet on Wednesday: "pleaded NOT GUILTY". The securities regulator alleged it was a scheme by Rappler to allow foreigners to illegally own shares in a domestic media firm. Also read: Philippines arrests Duterte critic, journalist Maria Ressa, on libel charge Rappler, a startup, has maintained foreigners never owned shares, but were allowed to invest without voting rights or involvement in operations. Rappler is still operating pending its appeal against its license being revoked. Media watchdogs and human rights activists say the charges against Ressa are part of a broader strategy to silence or humiliate opponents of Duterte. Earlier this month, his allies in Congress voted overwhelmingly in favour of denying top broadcaster ABS-CBN's bid to renew its 25-year license, an outcome that Duterte had repeatedly promised would happen because of its refusal to air some of his election campaign commercials. Presidential spokesman Harry Roque says Duterte supports freedom of speech and any media facing legal cases are for breaking the law, not for their reporting.

Philippine journalist Maria Ressa denies tax evasion charges

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