In its order four years ago, the European Commission said Apple benefited from illegal state aid via two Irish tax rulings that artificially reduced its tax burden for over two decades - to as low as 0.005% in 2014.
The move comes at a time when India is staring at the highest ever tax collection shortfall, as corporate and income tax collection for this fiscal year is set to fall for the first time in at least two decades and the goods and services tax revenue could see a gaping shortfall.
Ireland’s gross domestic product (GDP) grew by 5.5% in 2019, likely making it the European Union’s (EU) fastest-growing economy again, although it was lower than the 6.3% predicted by the finance department as it braces for the potential impact of the coronavirus outbreak.
British Finance Minister Rishi Sunak is considering a sweeping set of tax increases to help fix the huge hole in the public finances left by the coronavirus pandemic, newspapers reported.
India’s federal government on Thursday asked state administrations to raise $32 billion in loans, as part of a proposal to cover a shortfall in fiscal receipts that could see a surcharge on the country’s luxury goods tax extended beyond 2022.
The Federal Tax Authority (FTA) has reiterated its full commitment to supporting taxpayers and enabling them to fulfil their tax obligations during these exceptional times, as authorities ramp up their precautionary efforts to prevent the spread of the novel Coronavirus (COVID-19).
The Federal Tax Authority (FTA) has launched a new electronic system for registering Excise Goods as part of its plans to continuously develop the tax system as a whole, and Excise Tax procedures, in particular.
The Federal Tax Authority, FTA, has begun carrying out procedures related to implementing the latest Cabinet Decision on Excise Goods, Excise Tax Rates, and the Method of Calculating the Excise Price,
India’s central government gave a major boost to the automobile industry by announcing a slew of measures to reverse slowdown denting the sector.
A new shipment of cigarette packets marked with the Digital Tax Stamps approved by the Federal Tax Authority (FTA) has made it to Dubai. The Stamps will be electronically tracked to ensure Excise Tax due on tobacco products has been settled. In a press statement issued on Saturday,