New Delhi, June 10 (IANS) Bangladesh’s revenue mobilisation remains among the weakest globally, with the country collecting about 8 per cent of its GDP in government revenue in 2024, placing it only marginally above conflict-hit economies such as Yemen and Sudan, a report has said.Highlighting the International Monetary Fund (IMF) data, a report published in The Daily Star said that Bangladesh’s revenue-to-GDP ratio is the lowest among Asian economies and significantly below several peer cou…
Latest Taxation News & Updates
Washington, June 9 (IANS) The federal judge who struck down the Trump administration’s $100,000 H-1B visa payment requirement said the central issue in the case was not immigration policy but whether the executive branch had imposed a tax without congressional approval.In a 42-page ruling, US District Judge Leo T. Sorokin concluded that the administration’s H-1B policy amounted to an unauthorised tax and exceeded powers granted to the President under federal immigration law.“The Court finds th…
New Delhi, June 8 (IANS) Pakistan’s Federal Board of Revenue (FBR) has announced a massive revenue shortfall of close to Rs 684 billion during the first 10 months of the current financial year, raising concerns over the country’s fragile economy, according to a report in Maldives Insight.“As Pakistan struggles with inflation, debt obligations and repeated International Monetary Fund scrutiny, the revenue crisis has become far more than a bureaucratic failure. It now sits at the centre of t…
New Delhi, June 3 (IANS) Over the past 12 years, the Government has steadily empowered India’s middle class through wide-ranging reforms. A sharp reduction in taxation, improved banking access, wider insurance coverage, and expanded pensions have reduced financial stress. Subsidised loan rates and digital reforms have also made savings, borrowing, and financial planning more accessible and convenient. The government’s tax reforms have significantly eased the financial burden on the middle cl…
Los Angeles, June 1 (IANS) The Beatles legend Sir Paul McCartney doesn’t have the confidence that the UK government could run the nation. The Beatles frontman doesn’t think the government “know how to” make the UK run efficiently, reports ‘Female First UK’.The 82-year-old Beatles legend was quizzed on what he would change if he was elected Prime Minister and he is keen to see taxpayers money put to good use so people can see a difference in their lives.Speaking during a TikTok Live, he sai…
New Delhi, May 31 (IANS) The latest proposal from Pakistan’s Federal Board of Revenue (FBR) seeks to tax YouTubers based on the number of views they receive, a move that has triggered a major controversy over its coherence, legality, and alignment with the realities of online monetisation, according to a report in Maldives Insight. At the centre of the controversy is the prospect of taxation reaching as high as 66 per cent for certain overseas Pakistani content creators.The figure reflects not m…
New Delhi, May 20 (IANS) Rajya Sabha MP Sasmit Patra met Finance Minister Nirmala Sitharaman on Wednesday and submitted a detailed representation urging the initiation of structured national deliberations on the inclusion of petrol and diesel under the Goods and Services Tax (GST) framework. In his representation, Patra emphasised that the constitutional framework under Article 279A(5) already envisages the eventual inclusion of petroleum products within GST through the recommendation of the GST…
New Delhi, May 17 (IANS) Pakistan’s upcoming federal budget is likely to reflect an economy constrained by prolonged stabilisation policies, weak revenue generation and growing dependence on externally driven reforms, according to a recent economic analysis that warns the country risks slipping into a low-growth equilibrium without major structural recalibration.According to the analysis by Sakib Berjees, the country’s economic model has become heavily centred on stabilisation measures, with…
New Delhi, May 12 (IANS) Although foreign banks have been in China for decades, they have failed to grow and currently account for a mere 5 per cent of the country’s total banking assets, according to a media article.When China’s accession to the World Trade Organisation in December 2001 was finalised, the promise extended to foreign financial institutions was one of gradual, meaningful integration. However, this has not taken place, the article by Dr Shalini Kumar in the UK’s Asian Lite new…
New Delhi, May 10 (IANS) As Pakistan prepares for the national budget for fiscal year 2026-27, business chambers and industry stakeholders are once again pushing for structural tax reforms, arguing that the country can no longer rely on short-term taxation measures and annual fiscal adjustments to revive economic growth and investor confidence, a report has said.Among the key voices is the Overseas Investors Chamber of Commerce and Industry (OICCI), which has submitted a fresh set of taxation pr…