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Sep 18, 2009GST States have finally reached a consensus on having two basic rates under the Goods and Services Tax, slated to be rolled out on April 1, 2010. There will be one standard rate of taxation and another low rate of taxation for essential commodities.“A consensus has been reached between state finance ministers regarding the two basic rates of taxation. Some items will also be exempted from the tax and there will be another rate of tax for precious metals like gold and silver,” said
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The health reform debate is still far from the finish line, but Wednesday brought an important milestone: A key senator's highly-anticipated proposal echoing many of the reforms that President Obama is calling for.
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China has imposed taxes on some employee allowances for telecommunications, transportation and other benefits, according to a report on the State Administration of Taxation’s Website. Twenty percent of an employee’s telecommunications allowance and 30 percent of any auto allowance are taxable if there are no local standards for determining taxable and non-taxable amounts, the SAT said. Company payments for commercial insurance and termination compensation are also identified as taxable incom
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From NY1 : When Sara Jenkins got a notice from state officials saying she had not paid her 2007 taxes, she knew something was wrong. "I knew I'd paid my tax," says Jenkins. "So I went into my computer, my online banking, and pulled up the check, photocopied the check and sent it in. I thought, 'Okay, they made a mistake.'" Unfortunately for Jenkins, the State Department of Taxation and Finance did not agree. "I got the same letter back again saying 'No, you haven't paid,'" she says. Jenki
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Filed under: Economy , People , Coca-Cola Company , Pepsico A careful observer of the history of taxation might remind Coca-Cola Co. ( KO ) chairman and CEO Muhtar Kent that taxes have been used for centuries to create incentives for desired behavior. At a Rotary Club meeting in Atlanta on Monday, Kent employed the alarmist rhetoric reminiscent of Whole Foods CEO John Mackey and professional rabblerouser Sarah Palin, calling President Obama's suggestion of a federal tax on soft drinks "o
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President Obama's fall agenda has grown larger as some of the biggest decisions -- and fights -- over health care reform have been punted to September ... at the earliest.
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This essay from Jon Chait , on Ayn Rand and the continuing domination of the politics of taxation grievance on conservatism, is important and true. The essential takeaway, besides a thoroughly fair but damning discussion of Rand’s life and legacy, is to point out (as we must keep repeating) that the rich pay remarkably less in taxes that the did just decades ago, and that they are vastly more wealthy than they were then, and yet still we hear complaints of tax tyranny and the oppression of the r
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CUMMINS INDIA LIMITEDANNUAL REPORT 2008-2009DIRECTOR'S REPORTDIRECTORS' REPORTThe Directors of Cummins India Limited have pleasure in presenting the Forty-Eighth Annual Report and the Audited Accounts of the Company for the year ended March 31, 2009.1. FINANCIAL RESULTS :During the year under review, net sales turnover was Rs. 32,740,500 ('000) Rs. 23,307,792 ('000) (Rs. 23,308 million) during the previous earnings were Rs. 13,424,852 ('000) (Rs. 13,425 million) as during the previous
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We spoke to several leading financial advisers about the strategies they were recommending their clients adopt to cut their taxes now and in the future.
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The streets of Washington D.C. are filled with citizens who want President Obama and the Democratic leadership to reconsider the massive government-sponsored reorganization of the nation’s healthcare system. These protesters, many of them politically involved for the first time in their lives, have come from across the nation with a purpose: to let the federal government know that they do not want any further expansion of federal authority or spending, particularly in the sensitive area of pe
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