Choose the old or new tax regime for FY 2022-23 Revised New Tax Regime from AY 2024-25 Tax rebate on an income of up to ₹7 lakhs has been introduced under the new tax regime. This means that taxpayers with an income of up to ₹7 lakhs can claim all the tax paid(Yes you nee...
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When most of the taxpayers find tax computation and tax planning very complex, My Tax India enables assessees to do these with it's simple and powerful interface. Union budget 2020 has put forth two tax regimes to choose from, and with MyTax India, be it the new regime or the old, ...
Under the two-tiered profits tax rates regime, the profits tax rate for the first $2 million of assessable profits will be lowered to 8.25% (half of the rate specified in Schedule 8 to the Inland Revenue Ordinance (IRO)) for corporations and 7.5% (half of the standard rate) for unincorp...
is estimated to be around 6.5% as compared to the growth rate of over 7% registered in last 3 financial years. The slower economic growth is generally attributed to the recent bold reforms undertaken by the government including implementation of Goods and Services Tax (GST) regime to replace th...
In the long run, this is not a problem, but early in a Fair Tax regime, the elderly definitely are losers. Once again, Professor Dorfman is making a good point (and others have made the same point about the flat tax). My response, for what it’s worth, is that supporters of both...
lockupperiod of tonnage tax period.Furthermore the regime is examined in the light of the 2004 Community guidelineson State aid to maritime transport.According to the relevant provisions of the Maritime Act, qualifying companiesmay choose to have their shipping activities taxed on the basis of the...
Some of Norway’s richest citizens…rage at a fiscal regime that drove dozens of them into exile in Switzerland. One of the world’s most prosperous diasporas has swapped the fjords for the Alps to escape a double whammy of higher wealth and dividend taxes since…Prime Minister Jonas Gahr St...
A key benefit of Portugal’s NHR tax regime lies in Double-Taxation Agreements (DTAs). A DTA allows for most categories of income to be taxed in the country from which the source of income is derived. Most countries, however, choose not to apply income tax to any income earned by non-...