Articles for Wealth Tax

Inequality woes: Don’t dismiss Piketty’s advice for India on tax policy
13 hours, 28 minutes ago

Inequality woes: Don’t dismiss Piketty’s advice for India on tax policy

Live Mint  

Speaking at an event recently, Thomas Piketty, author of Capital in the Twenty-First Century, recommended an ambitious plan for tax justice in India, asking the richest Indians who have gained the most from economic liberalization to part with some of their wealth accumulation to pay for higher investment in public services such as education and health. The very rich, in …

India Corporate Tax Corporate Tax Economic Income Rate
What won’t happen in today’s Budget? Labour’s less likely options weighed up
1 month, 3 weeks ago

What won’t happen in today’s Budget? Labour’s less likely options weighed up

The Independent  

Get the free Morning Headlines email for news from our reporters across the world Sign up to our free Morning Headlines email Please enter a valid email address Please enter a valid email address SIGN UP I would like to be emailed about offers, events and updates from The Independent. Tax rises have been confirmed by Labour, with Keir Starmer …

Tax Wealth Labour Taxes Budget Email Working People
World's top 1% gained $42 trillion in a decade, taxes at record lows: Oxfam
4 months, 4 weeks ago

World's top 1% gained $42 trillion in a decade, taxes at record lows: Oxfam

Business Standard  

In the last decade, the wealth of the richest one per cent globally surged by a staggering $42 trillion, news agency AFP reported, citing global non-profit organisation Oxfam. High hope from G20 summit in Brazil Under Brazil’s leadership, the G20, representing 80 per cent of the global GDP, is prioritising international cooperation to tax the super-rich. Oxfam described the summit …

Climate Taxes Climate Finance G20 Brazil Countries Billion
Congress asks PM Modi to spell out his position on wealth tax on billionaires
5 months, 1 week ago

Congress asks PM Modi to spell out his position on wealth tax on billionaires

The Hindu  

The Congress on July 12 asked Prime Minister Narendra Modi to spell out his position on imposing a 2% wealth tax on billionaires, ahead of the meeting of G-20 Finance Ministers in Brazil’s Rio de Janeiro later this month. पूरी दुनिया में इस बात को लेकर सहमति बन रही है कि अरबपतियों को अपने करों का उचित हिस्सा अवश्य चुकाना …

Tax Congress Brazil Ramesh Billionaires Wealth Tax
Supreme Court Rejects Attack On Wealth Tax
6 months ago

Supreme Court Rejects Attack On Wealth Tax

Huff Post  

LOADING ERROR LOADING The Supreme Court issued a narrow 7-2 ruling on June 20 rejecting a sweeping constitutional argument that a wealthy Washington state couple brought before them that was viewed as a stalking horse aimed at preemptively striking down a future tax on wealth. The court’s decision, written by Justice Brett Kavanaugh, upheld the MRT, but did so without …

Tax Court Wealth Congress Constitutional Income Free
The left’s biggest failure? We don’t know how to tell stories, says Caroline Lucas
6 months, 3 weeks ago

The left’s biggest failure? We don’t know how to tell stories, says Caroline Lucas

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Caroline Lucas has said that …

Festival Tell Hay Some Kind Lucas Wealth Tax Hay Festival
Wealth Tax: Producing More Heat Than Light
7 months, 1 week ago

Wealth Tax: Producing More Heat Than Light

News 18  

Lately, the debate over wealth taxation has intensified, with proponents arguing for its role in addressing income inequality and funding social programs. The “proponents” and “detractors” were sharply divided even when the debate of retention and abolition of wealth tax was at its peak till one fine day when the tax under reference was repealed, through Budget 2016-17 to be …

India Tax Wealth Economic Model State Wealth Tax
Constitution and the redistribution of wealth
7 months, 3 weeks ago

Constitution and the redistribution of wealth

The Hindu  

The story so far: There have been heated exchanges between the ruling government and the Opposition with respect to the redistribution of wealth during the ongoing election campaign. The Supreme Court has also constituted a nine-judge Bench to interpret the Directive Principles of State Policy with respect to ownership and control of material resources. In the Minerva Mills case, the …

Supreme Court Constitution Tax Property Wealth Fundamental Rights Economic
Poor have become destitute while wealth concentrated at the top, says CPI manifesto, calling for BJP to be voted out of power
8 months, 2 weeks ago

Poor have become destitute while wealth concentrated at the top, says CPI manifesto, calling for BJP to be voted out of power

The Hindu  

The Communist Party of India on April 6 released its manifesto for the upcoming Lok Sabha election, calling for a change of government at the Centre. BJP’s rule has resulted in unprecedented concentration of wealth at the top while the poor are pushed to destitution,” said party general secretary D. Raja. The party said that it would seek increased funding …

Party Bjp Cpi Wealth Tax
Inequality rising since 2000s, top one per cent in India holds 40 per cent wealth: study
9 months ago

Inequality rising since 2000s, top one per cent in India holds 40 per cent wealth: study

The Hindu  

Published : Mar 23, 2024 13:17 IST - 5 MINS READ Inequality in India has skyrocketed since the early 2000s, with the income and wealth share of the top one per cent of the population rising to 22.6 per cent and 40.1 per cent, respectively, in 2022-23, according to a working paper. The paper authored by Thomas Piketty, Lucas Chancel, …

India World Wealth Indian Income Inequality Paper Cent
Budget 2024 explained: What is direct tax, income tax and how are they imposed?
10 months, 3 weeks ago

Budget 2024 explained: What is direct tax, income tax and how are they imposed?

Hindustan Times  

As the country awaits Interim Budget 2024, taxes are an area of great interest in the budget speech which will be made by Union Finance Minister on February 1 in the parliament. Budget 2024: Direct Tax is a tax paid directly by individuals or organisations based on their earnings. Direct tax is a tax paid directly by individuals or organisations …

Income Tax Corporate Tax Capital Gains Tax Income Budget 2024 Wealth Tax Direct Tax
Trump is ordered to pay New York Times and its reporters nearly $400,000 in legal fees
11 months, 1 week ago

Trump is ordered to pay New York Times and its reporters nearly $400,000 in legal fees

LA Times  

Former President Trump had sued the New York Times and three of its reporters over a Pulitzer-winning investigation into his family’s wealth and tax practices. Former President Trump was ordered Friday to pay nearly $400,000 in legal fees to the New York Times and three investigative reporters after he sued them unsuccessfully over a Pulitzer Prize-winning 2018 story about his …

Tax Trump Lawsuit New York Legal Fees Donald Trump Mary Trump
Budget 2024: What are direct taxes? Types and significance
11 months, 2 weeks ago

Budget 2024: What are direct taxes? Types and significance

Hindustan Times  

For the sixth consecutive year, Union minister Nirmala Sitharaman is set to present the Budget for the fiscal year 2024-25 on February 1. Examples of direct taxes include income tax, real property tax, personal property tax, and taxes on assets. Difference between direct and indirect taxes A direct tax is the opposite of an indirect tax, wherein the tax is …

Property Taxes Budget Assets Income Tax Corporate Tax Income
Customary Amongst Married Women To Keep On Changing The Jewellery As And When New Designs Come In The Market: ITAT Deletes Income Tax Addition
1 year, 7 months ago

Customary Amongst Married Women To Keep On Changing The Jewellery As And When New Designs Come In The Market: ITAT Deletes Income Tax Addition

Live Law  

The Delhi Bench of the Income Tax Appellate Tribunal has deleted the addition and held that it is customary amongst married women to keep on changing the jewelleryas and when new designs come on the market.The bench of Anubhav Sharma and N. K. Billaiya has observed that the assessee has given an item-wise reconciliation of Wealth Tax Return items. The …

Tax Jewellery Reconciliation Married Women Return Itat Assessee
Delays around implementing new wealth tax already costing Dutch gov't €780 mil.
1 year, 7 months ago

Delays around implementing new wealth tax already costing Dutch gov't €780 mil.

NL Times  

Delays around the introduction of a new wealth tax are costing the government more and more. State Secretary Marnix van Rij postponed the implementation from 2025 to 2027, and that will cost the Dutch treasury some 780 million euros, De Telegraaf reports. The Netherlands has to introduce a new wealth tax because the Supreme Court overturned its previous one. The …

Tax Wealth Van Rij New Wealth Tax
Union Budget 2023-24: Why setting store by GST, fuel tax regressive
1 year, 11 months ago

Union Budget 2023-24: Why setting store by GST, fuel tax regressive

Firstpost  

The Goods and Services Tax collections have been surging recording Rs 1.50 lakh crore or so in December 2022. Fuel tax collections for the Centre too have been impressive at around Rs 8 lakh crore in each of the three financial years ending 2021. Add to this the Value-Added Tax imposed by state governments on fuel at the ballpark figure …

India Tax Wealth Taxes Indian Duty Crore
California lawmaker joins other blue states in latest attempt to tax rich people
1 year, 11 months ago

California lawmaker joins other blue states in latest attempt to tax rich people

LA Times  

California is home to the most billionaires, including Facebook cofounder Mark Zuckerberg. Lee’s proposed tax focuses on a person’s “worldwide wealth” — not just their annual income — including such diverse holdings as stocks and hedge fund interests, farm assets and arts and collectibles. California Another effort to tax ‘extreme wealth’ in California is launched in Legislature The Legislature is …

States California State Legislature Rich Californians Lee
India's richest 1% own more than 40% of total wealth: Oxfam
1 year, 11 months ago

India's richest 1% own more than 40% of total wealth: Oxfam

The Hindu  

The richest 1% in India now own more than 40% of the country's total wealth, while the bottom half of the population together share just 3% of wealth, a new study showed on Monday. Releasing the India supplement of its annual inequality report on the first day of the World Economic Forum Annual Meeting in Davos, rights group Oxfam International …

Health India Taxes Indian Crore Billionaires Wealth Tax
Karnataka High Court Quarterly Digest: July To September, 2022 [Citations 238 - 385]
2 years, 1 month ago

Karnataka High Court Quarterly Digest: July To September, 2022 [Citations 238 - 385]

Live Law  

Nominal Index: DADA S/O BALU ROOGE v. APPASAHEB S/O KIRAN KESTE. Individual Performing 'Public Duty' Comes Under Purview Of Prevention Of Corruption Act: Karnataka High Court Case Title: V.KRISHNAREDDY v. THE STATE OF KARNATAKA Case No: CRIMINAL PETITION No.685 OF 2022 Citation: 2022 LiveLaw 310 The Karnataka High Court has said that the General Manager of Nandini Milk Products, which …

India Trust Bengaluru High Court General Constitution Indian
How Sunak's war on wealth risks reversing a 50-year march towards democratic capitalism
2 years, 1 month ago

How Sunak's war on wealth risks reversing a 50-year march towards democratic capitalism

The Telegraph  

When Jeremy Hunt looks down the list of options for raising revenue in the Autumn Statement, many theoretical options will already be crossed out in red ink. And the big three revenue generators of income tax, National Insurance and VAT are already off the table if the government wants to keep to its manifesto pledges. But, critics say, he has …

Cgt
All High Courts Weekly Round Up: 18 July 2022 - 24 July 2022
2 years, 4 months ago

All High Courts Weekly Round Up: 18 July 2022 - 24 July 2022

Live Law  

Allahabad High Court NOMINAL INDEX Mamta And Another v. State Of U.P. Ltd. 2022 LiveLaw 261 Jagannath Bhagnath Bedke vs Haribhau Jagannath Bedke 2022 LiveLaw 262 Sterlite Industries Limited and ors vs Special Director of Enforcement and ors 2022 LiveLaw 263 International Society for Krishna Consciousness Bangalore v. International Society for Krishna Consciousness and Ors 2022 LiveLaw 264 ROUND-UP Bar …

India Karnataka Mumbai High Court Pakistan High Courts Bombay High Court
Developer Put In Possession Of The Property Under The Development Agreement, Assessee Not Liable To Pay Wealth Tax: Karnataka High Court
2 years, 5 months ago

Developer Put In Possession Of The Property Under The Development Agreement, Assessee Not Liable To Pay Wealth Tax: Karnataka High Court

Live Law  

The Karnataka High Court has set aside the order passed by the ITAT holding that the assessee was liable to pay Wealth Tax with respect to a property, despite transferring possession of the said property to a developer under a Joint Development Agreement. Hence, the Court ruled that the order of the ITAT upholding the liability of the assessee to …

Development Tax Property Court Wealth Agreement High
Who are the top contenders in race to replace Boris Johnson as UK PM?
2 years, 5 months ago

Who are the top contenders in race to replace Boris Johnson as UK PM?

Live Mint  

A total of nine Conservative MPs have so far launched their bid to replace Boris Johnson as the new prime minister of the United Kingdom. The early favourite is former finance minister Rishi Sunak, who launched his campaign Friday after helping to kickstart the cabinet revolt that led to Johnson's forced resignation Thursday. Sunak and former health minister Sajid Javid …

Brexit Tax Conservative Minister Johnson Tax Cuts Sunak
Tax reforms key to common prosperity
3 years, 3 months ago

Tax reforms key to common prosperity

China Daily  

Local levies, direct taxes to improve public services, redistribute wealth Expected acceleration of reform of China's tax system this year could help drive policymakers' initiatives for ushering in common prosperity, a national goal, officials and experts said on Thursday. Tax reforms will focus on improving local government levies and raising the proportion of direct taxes like income tax and property …

China Tax Property Reform Public Services Income Direct Taxes