Recently,G20 finance ministers at a meeting Japan has agreed to compile common rules to close loopholes used by global tech giants to reduce their corporate taxes. Global technology firms such as Facebook, Google, Amazon and others face criticism for cutting their tax bills by booking profits in low-tax countries regardless of the location of the… Continue reading G20 Finance Ministers call for creation of digital tax
Author: ForumIAS
India calls upon G-20 countries to urgently resolve issue of taxing profits made by offshore digital companies
During the meeting of G-20 finance ministers in Japan,Indian Finance Minister has called on G-20 countries to adopt principle of ‘significant economic presence’ to address challenges to tax profits made by the digital companies. The concept of Significant Economic Presence was introduced in the Income-Tax Act,1961 from April 1,2018. This was introduced to tax the… Continue reading India calls upon G-20 countries to urgently resolve issue of taxing profits made by offshore digital companies
SIAM, CII call for practical road map for electric vehicles
Automotive industry has opposed the government’s proposal to ban sales of non-electric three-wheelers by 2023 and two-wheelers of less than 150cc by 2025 terming it as an impractical and untimely move. Recently,Union Ministry of road and transport in consultations with NITI Aayog had proposed that all three-wheelers and two-wheelers below 150cc will need to go… Continue reading SIAM, CII call for practical road map for electric vehicles
India and Myanmar to hold high-level meeting
India and Myanmar has decided to hold a high-level meeting in Imphal, Manipur to bring the two countries closer. During the meeting,the two nations are likely to discuss issues related to (a)supply of fuel from Assam to Myanmar (b)overnight stay of Indians at Tamu (Myanmar border town) and (c)medical tourism among others. As a part… Continue reading India and Myanmar to hold high-level meeting
Keep track of infrastructure projects in Delhi through an app
Delhi Government has decided to introduce a mobile application that will have the geo-location of all its infrastructure projects. The app will also include the features of the project,the details of its nodal departments and officers and its timeline.This will enable people to keep track of the progress. The Government will also start taking feedback… Continue reading Keep track of infrastructure projects in Delhi through an app
Thousands march in Hong Kong to protest China extradition bill
Hong Kong has plunged into a fresh political crisis after thousands of people took to the streets to protest against a proposed extradition bill. The extradition bill could allow China to target political opponents who are in Hong Kong.The Bill would allow suspected criminals to be sent to mainland China to face trial. The changes… Continue reading Thousands march in Hong Kong to protest China extradition bill
Govt mulling tax on cash withdrawal of Rs 10 lakh a year
The government is planning to introduce a tax on cash withdrawals of Rs 10 lakh in a year.The government is planning this move to discourage use of paper currency, promote digital payments as well as crack down on black money. Further,the government is also considering mandating Aadhaar authentication for all high-value cash withdrawals as the… Continue reading Govt mulling tax on cash withdrawal of Rs 10 lakh a year
US may offer F-35 fighter if India scraps S-400 deal
The US could offer India the fifth-generation F-35 fighter jet if India cancels the S-400 air defence system deal with Russia.The US has increased pressure on India over the S-400 deal that was signed in October,2018. US official had said that India should not assume that it will get a waiver from U.S. sanctions if… Continue reading US may offer F-35 fighter if India scraps S-400 deal
Must Read News Articles – June 10th, 2019
GS-2 Draft NEP proposes education from age of three The draft National Education Policy has recommended an expansion of the Right to Education Act to cover the three years of preschool before Class 1. All states Union territories can now setup foreign tribunals The Ministry of Home Affairs (MHA) has laid out specific guidelines to… Continue reading Must Read News Articles – June 10th, 2019
Common Mistakes in Mains Examination
Dear Friends, UPSC has released the instructions and guidelines to avoid the penalty marks deduction in the mains examination. Please go through it and avoid the mistakes while writing your answers in QCAB( question-cum-answer booklet). https://upsc.gov.in/examination/common-mistakes-committed-candidates-conventional-papers
