Washington, March 26 (IANS) US President Donald Trump has projected confidence of a strong Republican showing in the midterm elections, attacking Democrats sharply while highlighting his administration’s economic, military, and border policies. Addressing a House Republican dinner at Union Station here on Wednesday (Local time), Trump said his administration had delivered major results and would “defy history” in the upcoming elections.“With your help this November, we’ll defeat the ra…
Latest Taxation News & Updates
New Delhi, March 24 (IANS) Naveen Jindal, Member of Parliament from Kurukshetra in Haryana, strongly endorsed the Finance Bill, 2026 in the Lok Sabha on Tuesday, describing it as a transformative and forward-looking roadmap that will shape the future of 140 crore Indians.He emphasised that India’s growth story is being powered by the combined strength of its taxpayers and the private sector — both of whom are indispensable partners in nation-building.Highlighting the critical role of the pri…
New Delhi, March 3 (IANS) Pakistan’s high taxation regime is choking the formal economy, especially industrial businesses, yet there seems to be no realisation within the Federal Bureau of Revenue (FBR), which keeps extracting juice from the top 1 per cent of the population, according to an article.The core of the issue is that capital formation is disincentivised, as the effective tax rate, including is over 50 per cent for large manufacturing facilities, according to the article in the Karac…
New Delhi, Feb 24 (IANS) Pakistan’s economy is in dire straits as inequality and poverty are rising, while the Federal government is close to bankruptcy, according to an article in the Pakistani media.The article in the Karachi-based Business Recorder pitches for export-led growth as the way ahead to uplift the masses by creating economic opportunities, along with a drastic overhaul of governance in public service delivery, especially in education.It notes that political parties refuse to devolv…
New Delhi, Feb 15 (IANS) Pakistan’s economy cannot be fixed without fixing the politics first, as a corruption-ridden government is coming in the way of economic development, according to an article in the Pakistani media.An economic system is perforce a product of the political system. The political system is higher in the hierarchy than all the other sub-systems; hence, any malfunction there affects all the constituent sub-systems. The degenerating economic order cannot be viewed in isolatio…
New Delhi, Feb 10 (IANS) The Heritage Institute’s Index of Economic Freedom has classified Pakistan as a “repressed” economy, ranking it 150th out of 184 economies, with a score of 49.1 out of 100 for the year 2025.The Heritage Institute’s Index of Economic Freedom measures 12 economic freedoms, which include: property rights, government integrity, judicial effectiveness, tax burden, government spending, fiscal health, business freedom, labour freedom, monetary freedom, trade freedom, investment…
New Delhi, Feb 7 (IANS) Suffering from a profound identity crisis, Pakistan has thrown tax burden onto a population that receives the public services of a medieval fiefdom, according to a new report.A report in Business Recorder reveals that Pakistan’s fiscal policy remains obsessed with squeezing the productive few to fund a “bloated, unproductive bureaucracy”. “We are not a welfare state; we lack the institutional nervous system, the documentation, and the moral contract to sustain one…
Washington, Feb 2 (IANS) Leading US-India business groups welcomed India’s Union Budget 2026–27, saying it reinforces growth, fiscal discipline, and India’s role as a key economic partner for the United States during global uncertainty.US-India Business Council (USIBC) and the US-India Strategic Partnership Forum (USISPF) said the budget underscored India’s commitment to economic growth, resilience, and global competitiveness, while strengthening the foundations for deeper bilateral comm…
New Delhi, Jan 31 (IANS) From February 1, the government is bringing a new tax structure for cigarettes, tobacco products and pan masala, aiming to tighten regulation and keep tax levels high on these so-called ‘sin goods’.An additional excise duty will now be charged on cigarettes and tobacco products, along with a new health and national security cess on pan masala.These new levies will replace the earlier system under which these products were taxed at 28 per cent GST along with a compens…
New Delhi, Jan 22 (IANS) The Union Budget 2026 will maintain fiscal prudence and prioritise strategic, capex‑heavy sectors — making defence sector the top beneficiary, a report said on Thursday.The report from investing platform smallcase said that nearly 40 per cent of respondents flagged defence sector for higher allocations driven by indigenisation, modernisation, export potential and sustained government spending.A pre‑budget survey of over 50 investment managers found that infrastructu…