tax
Coalition Plans Plastic Packaging Levy
The German coalition government is preparing a new tax on plastic packaging as part of efforts to reduce plastic waste and generate public revenue. The proposed levy would apply to manufacturers producing packaging above minimum plastic content thresholds.
Tax reforms aim to boost employment incentives in Norway
Norwegian government proposed tax policy adjustments designed to make employment more financially attractive to workers. The reforms target income taxation to encourage workforce participation.
Poll Gauges Public Opinion on Inheritance Tax
Following Conservative leader Kemi Badenoch's proposal to abolish inheritance tax on family homes, a poll asked the public whether family residences should pass down tax-free.
Conservative Leader Pitches Tax Cuts Campaign
UK Conservative Party leader Kemi Badenoch announced major tax-cutting proposals including the elimination of inheritance tax on family homes. She framed the upcoming election as a 'battle for the soul of the nation'.
Conservative Leader Pitches Tax Cuts Campaign
UK Conservative Party leader Kemi Badenoch announced major tax-cutting proposals including the elimination of inheritance tax on family homes. She framed the upcoming election as a 'battle for the soul of the nation'.
Indian Tax Court Exempts Major Cash Gifts From Scrutiny
India's Income Tax Appellate Tribunal ruled that large cash gifts from relatives are not taxable income, providing relief to a taxpayer who had received 85 lakh rupees from family members and faced official inquiry. The tribunal also determined that voluntary retirement payments are capital receipts rather than salary income.
China's Tax Crackdown on Offshore Wealth Rattles Elite Citizens
Chinese authorities intensified their crackdown on offshore wealth held by the country's richest citizens, alarming affluent individuals and wealth management firms in Hong Kong, Singapore and Japan. The enforcement campaign signals Beijing's determination to recover hidden assets and enforce capital controls over financial flows.
European Commission Considers Broad Corporate Tax on Large Firms
The European Commission is considering a broad-based tax on large corporations across the EU as a means of capturing revenue from Big Tech companies without singling out US digital services firms. The proposal aims to address tax avoidance while maintaining compliance with international tax agreements.
Conservative CDU Backs Inheritance Tax Increase
Lawmakers from Germany's conservative CDU party unexpectedly call for raising inheritance taxes. The policy proposal challenges traditional party positions on business-friendly taxation.
India's GST 2.0 Shifts Penalties Over Imprisonment for Tax Violations
India's second phase of Goods and Services Tax reform aims to decriminalize certain violations, replacing potential arrests with financial penalties for tax defaulters. The reforms also address accumulated GST input issues for manufacturers.
Germany Proposes Tax on Plastic Packaging
The German government is fast-tracking legislation to introduce a new tax on plastic packaging, targeting products containing more than five percent plastic. The tax proposal aims to reduce plastic consumption and generate government revenue, though industry groups have raised concerns.