PYMNTS
FEBRUARY 14, 2020
Amazon and Flipkart are pushing back against a proposed Indian tax on the online eCommerce market, saying it will stymie growth in the industry, according to a report by Reuters. . The tax would be 1 percent on every sale made by a seller on the eCommerce platforms, and it would take effect in April if approved by the country’s parliament.
PYMNTS
FEBRUARY 10, 2020
The jousting over eCommerce taxes — especially for U.S. Last week in India, the government proposed a tax on eCommerce transactions that will likely increase operating costs for sellers large and small. The tax, technically known as “Tax Deducted at Source” (TDS), is sent directly to an account held by the central government.
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TrustBank
OCTOBER 21, 2021
On September 15, the House Ways and Means Committee approved the tax provisions of the Build Back Better Act (BBBA), the legislation intended to implement President Biden’s social and education reforms. This proposal would be effective for tax years beginning after Dec. net investment income tax + 3% high income surcharge).
PYMNTS
FEBRUARY 1, 2021
However, the agency projected that the unemployment rate will only gradually decline through 2026, with the number of people employed returning to a pre-COVID crisis level only in 2024. The CBO’s projections assume that “current laws governing federal taxes and spending (as of Jan.
PYMNTS
SEPTEMBER 17, 2019
million times last year for offenses such as unpaid taxes and fines. million times from purchasing train tickets, and 128 people were blocked from leaving the country because of unpaid taxes. The report’s authors predict that by 2026, the concept of social credit systems will be entirely mainstream in the U.S.
PYMNTS
SEPTEMBER 12, 2019
percent from 2019 to 2026, the technologies’ high costs and lack of skilled IT professionals prevent the market from doing so more quickly. Regulators are increasingly taking note, with some seeking to improve AML and anti-tax evasion efforts by prohibiting anonymous crypto transactions. Cryptocurrency and Blockchain.
PYMNTS
SEPTEMBER 3, 2018
In 2016, Prime Minister Narendra Modi put forth a policy that took the largest banknotes in circulation out of the system (500 rupee and 1,000 rupee bills), a move intended to reduce tax evasion and corruption. The central bank said in August that it had gotten roughly 99.3 Online Retail Growth.
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