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Centre releases Rs 1.78 lakh crore to states for festive season, with largest shares to Uttar Pradesh, Bihar, and Madhya Pradesh

Among the other states, Andhra Pradesh received Rs 7,211 crore, Tamil Nadu received Rs 7,268 crore,…

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Spiking oil prices helped Russia energy-tax revenue double last month

The amount of tax that Russia collected on oil and gas rose by 90% on a year-over-year basis in Mar…

Filip De Mott   


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28% GST on face value in casinos, online gaming, horse racing will increase revenue collection: FM

Finance minister Nirmala Sitharaman on Tuesday said the 28 per cent GST on full face value of suppl…

PTI   


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RBI report flags large-scale variation in property tax collection across civic bodies

It may look surprising but it is a fact that the property tax revenue of the municipal bodies in De…

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Russia eyes $22 billion in windfall tax revenue from Gazprom amid skyrocketing natural gas prices

The state-run gas producer would pay the Kremlin 1.25 trillion rubles from September to November un…

Brian Evans   


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3 mins read

Nearly half of sports gamblers like those who bet on the World Cup still do it illegally, and it's costing your state millions in tax revenue

Illegal gambling costs the US billions in tax revenue, as half of bettors still take illegal routes…

Jacob Zinkula   


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Indonesia could start taxing its highest earners more

Indonesia is the latest country to look into potential tax reforms in the wake of the pandemic, wit…

Juliana Kaplan   


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JPMorgan says it's time for US corporate taxes to catch back up with the rest of the world

The bank finds the US more reliant on tax revenue from personal income and property, while Biden is…

Ayelet Sheffey   


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Republicans are balking at how much state aid is in Biden's stimulus, but Democrats maintain it's necessary for a full recovery

Tax revenues fell 0.12% on average for 47 states, but Democrats argue the $350 billion in state aid…

Ayelet Sheffey   


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Do not panic when Finance Minister Nirmala Sitharaman reads out the revised estimates

As Aditi Nayar, principal economist at ICRA put it, in a conversation with Business Insider, the…

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4 mins read

New tax structure gives option to save tax: Revenue Secy

New Delhi, Feb 3 () The new lower income tax rates offered in the Budget 2020-21 will leave more ca…

PTI   


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12% tax revenue growth achievable in 2020-21 fiscal: Revenue Secy

Explaining further, Pandey said, "This year we have shown a tax revenue growth of 4 per cent. 7 pe…

PTI   


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RBI offers Narendra Modi government money to boost growth-- share markets cheer

India’s central bank has been saving for a rainy day and looks like that day has come. Aft…

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Budget 2017 will be presented in the most uncertain times. Here’s why

"This (2017-18) budget would be presented in most uncertain times and is unpredictable,” NR Bhanumu…

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Govt receives Rs 14 lakh crore in old notes, post demonetisation. This was unexpected

This also means that expectation that RBI will be able to give a substantial dividend to the govern…

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4 mins read

Amazon's HQ2 deal with New York might be in jeopardy - and it could mean that the state and city lose out on $27.5 billion in tax revenue

"Amazon, by our current tax structure, would generate approximately $1 billion per year in new reve…

Bob Bryan   


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Arun Jaitley calls 36.5% rise in indirect tax revenues a huge positive

The 36.5% rise in indirect tax collections "looks bigger because of certain additional revenue meas…

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3 mins read

GST Means India Is Keen On Adopting Global Practices

In a nutshell, GST is a value added tax to be levied on both goods and services except for a list o…

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1 min read

Govt May Impose More Spending Cuts To Curb Fiscal Deficit

A recent media report suggests that the government may impose more cuts on spending if tax revenues…

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The US Relies Too Much On Incomes For Tax Revenue

"The U.S. tax system is desperately in need of reform. Tax revenues as a share of GDP need to rise,…

Lisa Mahapatra