The Indian government has announced a third round of tax cuts in a bid to
provide further stimulus to the economy.
The cuts are designed to boost trade, and include a 2 per cent cut in the
central excise duty to 8 per cent, with a similar cut applying to the excise on
cement. Service taxes will be cut to 10 per cent from 12 per cent.
The government expects the Indian economy to start feeling the full impact of
the slowdown in Europe later in the year, due to strong export links with EU
Finance minister Shri Pranab Mukhejee foreshadowed the move when he announced
the interim budget, telling parliament that the government had some flexibility
to cut excise taxes and duties.
Changes to the tax system is urged to support the growth of entrepreneurs, found a report from the Grant Thornton UK, the Institute of Directors, and the Prelude Group
The EC has been instructed to draft a European Union (EU) directive authorising an EU financial transaction tax, which would apply to ten of the EU’s 28 member states
Government's estimate of a £400m admin saving from Making Tax Digital is way off - and is instead a huge cost burden, warns Lamont Pridmore chief executive Graham Lamont
HMRC is continuing to ramp up the number of raids on premises it carries out as part of criminal investigations, searching 761 properties in the last year