Tag Archives: Tax

Modi tells tax officers to register even small traders for GST

Prime Minister Narendra Modi on Friday told tax officers to work on a system to ensure that small traders are brought into the GST network, especially those with an annual turnover of less than Rs 20 lakh. Addressing central and state tax officers on the first day of the 2-day Rajasva Gyan Sangam in New Delhi, he also… Read More »

Guy Wildenstein: Leading art dealer cleared of tax fraud

The patriarch of an international art-dealing dynasty has been cleared of concealing paintings and properties from the French tax authorities. Guy Wildenstein and seven other defendants were accused of trying to hide millions of euros in assets. The presiding judge of a Paris court said there had been a “clear attempt” at concealment. But he acquitted them because… Read More »

Five EU nations agree tax crackdown in wake of Panama leak

Leading financial institutions have welcomed a new crackdown on international tax dodging agreed by Europe’s biggest five economies. Tax and law enforcement agencies in the UK, Germany, France, Italy and Spain have agreed to share data. But critics said it would only work if the US and other nations signed up. Meanwhile, UK Chancellor George Osborne told the… Read More »

Investment in penny stocks under tax scanner

After the securities market regulator, the income tax department has clamped on individuals misusing the stock exchange platform for evading taxes and converting black money into white. The Central Board of Direct Taxes (CBDT) has directed officers to open cases against individual taxpayers who have booked capital gains or losses by transacting in penny stocks. These are scrips… Read More »

Facebook to Cut Tax Bill by Paying $1M Bonuses to U.K. Staffers

Facebook is to award bonuses of £280 million ($396 million) to its U.K.-based staff over the next three years in a bid to offset the amount of tax it has to pay to the U.K. Treasury. Each employee will receive an average of £775,000 ($1.1 million), which Facebook will list as a taxable expense. Each Facebook employee will… Read More »