In a welcome decision India’s courts have decided that the Indian tax authority does have the right to demand tax from Vodafone that it says that company should have withheld from Huthinson telecom when Vodafone bought Hutchinson’s Indian mobile phone network. As the New York Times reports: Indian tax authorities argued that Vodafone should have
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The Guardian reports that George Osborne said to Andrew Marr yesterday: What’s controversial with some in my party is raising CGT. Here is a tax where at the moment we see massive income tax evasion, we see people shifting their income ‚Ķ and that’s not fair given the current situation, so we’ll deal with that.
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The Press Association has reported: The TUC called for an increase in capital gains tax, claiming it was used by the rich to avoid paying their proper share of tax. General secretary Brendan Barber said: "The vast majority of taxpayers never come into contact with capital gains tax as they are simply not wealthy enough
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Business Daily: – Company Industry |Pressure mounts on Treasury to bring back capital gains tax. No not in the UK – we already have one, albeit charged at the wrong rates and far too rarely on corporate gains – this is in Kenya: The recent sale of multi-billion shilling Kenyan businesses without any revenues accruing
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Capital gains tax will not raise extra money, economists say – Telegraph. The Telegraph reports: The Adam Smith Institue, studing CGT changes in America from 1955 to 2006, has calculated that every time the rate was cut revenues went up, and every time. Now I wonder why they looked at the USA when the proposal
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FT.com / UK / Politics & policy – CGT rise first big test for Cameron coalition . Get a grip over at the FT, I suggest. To claim that “CGT rise first big test for Cameron coalition” is ludicrous. The world economy falling apart all around it whilst the ConDems put in place policies designed
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The FT has reported that: The Mumbai High Court on Wednesday dismissed a challenge by Vodafone against a $2bn tax [charge]. Vodafone had challenged whether Indian tax authorities had the right to assess the tax on the UK group’s $11bn acquisition of a local mobile company, Hutchison Essar. In February last year, Vodafone bought a
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This is from the States again, but is another article that translates well: The hoariest of tax chestnuts is that capital gains need to be taxed at a lower rate than labor to encourage capital formation and grow the economy. Because US economic growth depends on the growth of family businesses and entrepreneurs, rather than
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I have been asked this question yet again today. I have a five step plan: 1) Increase the tax threshold at which tax is paid by £1,000 for everyone. For most people this will reduce their tax liability by £200 – the value that (near enough) the 10p band gave them; 2) Reduce the standard
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