Silent auction tax deduction letter

Mumbai: Indian stock brokers have sought the reintroduction of rebates on the payment of securities transaction tax (STT), withdrawal of dividend distribution tax, and restoration of the exemption on long-term capital gains tax in listed shares. The Association of National Exchanges Members of India (ANMI) has also sought reduction in the rate of STT, and listed these four demands in a letter addressed to the Central Board of Direct Taxes (CBDT); these will be included in the budget recommendations to the finance ministry. ANMI is of the view that reintroduction of Section 88E under the Income Tax Act and reduction in STT are required to boost volumes, helping the government increase its revenue. As per a World Bank study, India’s turnover to market-cap ratio has fallen by over 43% from 101 in 2004 to 58 in 2018. It is measured as total traded value of all shares in a year divided by Average Market Capitalisation of the entire market in that year. The present form of … [Read more...] about Brokers want dividend tax to go, also seek relief on STT & LTCG

The ADB has sought exemption from getting domestic credit rating and instead would prefer to use its 'AAA' international rating by the three international credit rating agencies. PHOTO: FILE ISLAMABAD: The Asian Development Bank (ADB) has asked Pakistan for immunity from regulatory approvals and tax exemptions for Pak rupee-denominated bonds that the regional lender wants to float to raise money for public and private-sector projects from the domestic market. The Manila-based lending agency has sought these concessions to launch local currency bonds, according to government sources. The ADB is eyeing to expand its footprint in Pakistan’s capital markets, but without fulfilling regulatory requirements. It aims to provide some of the services that are currently extended by commercial banks, including lending for private-sector projects. Sources said that in order to fulfill the ADB’s demands, the State Bank of Pakistan (SBP), Securities and Exchange … [Read more...] about ADB seeks tax break for Pak rupee bonds

The quill pen that Admiral Lord Nelson wrote his last, unfinished letter on HMS Victory has sold for £10,000. Two days before the Battle of Trafalgar, the British naval hero sat down at his writing desk in his cabin and poured his heart out to his lover, Lady Emma Hamilton.  But it was not to be as Nelson was shot by a French sniper and died without finishing his letter. The quill was consigned for sale by a private collector, who had owned it since 2005, with auction house Christie's, of London and went for £10,000. The goose quill pen even has ink stains to its nib The trimmed 8ins long goose quill pen, which has ink stains to its nib, was taken from Nelson's writing desk by Captain Sir Thomas Hardy. It lay next to the unfinished letter. He gave it to Major Robert Wright, of the Royal Artillery, who was then stationed at the Gibraltar garrison. Two days before the Battle of Trafalgar, the British naval hero (pictured right) sat down at his writing desk on his cabin … [Read more...] about Quill pen which Admiral Lord Nelson used to write his last, unfinished letter on board HMS Victory sells for £10,000

Taxing. Photo: Brendan Smialowski/AFP/Getty Images Two House Republicans joined congressional Democrats Friday in signing a letter demanding the release of President Trump’s tax returns. North Carolina’s Walter Jones and South Carolina’s Mark Sanford were the only two members of the GOP to sign the letter, which asks the Senate Committee on Finance and the House Ways and Means Committee to demand the Treasury Department turn over Trump’s tax returns from the last decade. The letter says the returns should be made available to members of the two committees in a “closed” session, with the eventual goal of “making them available to the public.” The letter from the House comes two days after seven Democrats on the Senate Finance Committee sent chairman Senator Orrin Hatch of Utah a letter asking for the same thing. It also follows a vote Monday that blocked a resolution calling on the House Ways and Means Committee to release Trump’s … [Read more...] about Two House Republicans Join Dems and Demand Trump’s Taxes

In his messages to Appleby, James O’Toole described himself as a “tax alchemist”, and with some reason. It seemed that with a few emails to the offshore law firm at the centre of the Paradise Papers leak, O’Toole could legitimately turn taxable assets into something that would pass unnoticed by UK tax authorities. Boats, shares, properties and cash were all transferred into offshore companies set up in tax havens such as Mauritius and Seychelles, their ownership obscured to reduce duties in the UK and Ireland. O’Toole, a British lawyer, co-runs a firm called Aston Court Chambers. Its speciality: aggressive tax avoidance. Working with advisers and offshore law firms such as Appleby, Aston Court sets up structures designed to help the wealthy hide and protect their assets from the taxman. There are all kinds of off-the-shelf schemes to help people do this. All of them are aggressive. Many of them are now likely to come under scrutiny from HMRC, which has … [Read more...] about James O’Toole: the ‘tax alchemist’ who can slip assets past UK taxman

MADISON, Wis. (AP) — Gov. Tony Evers’ top aide warned Foxconn Technology Group last month that a scaled-down factory in Wisconsin won’t qualify for tax credits unless the Taiwanese electronics giant renegotiates with the state, letters Evers’ administration released Friday show. The letters underscore a deepening schism between Evers and the world’s largest electronics provider. Foxconn counts Apple, Google and Amazon among its customers. Foxconn originally proposed building a massive flat-screen plant in Mount Pleasant that would eventually employ 13,000 people. Enamored with the thought of a monumental economic boost going into the 2018 elections, then-Gov. Scott Walker and Republican legislators approved an unprecedented $3 billion state incentives package in 2017 for the factory. Democrats complained at the time that Walker and the GOP were giving away too much for a project that might never materialize. But the landscape changed. First, Evers defeated … [Read more...] about Wisconsin governor: No tax credits for new Foxconn plant