According to a recent report, 18 of the EU’s 27 nations have put in place domestic laws for the global minimum tax as per a EU directive.
Category: Economy
BIS releases “Core Principles for Effective Banking Supervision”
The Bank for International Settlements (BIS) on 25th April, released the ‘Core Principles for Effective Banking Supervision’ which is crucial for global banking supervision. The revised text has been incorporated into the consolidated Basel Framework. Key points About Bank for Read More …
Interest Equalisation Scheme (IES)
Exporters have urged the government to extend the interest equalisation scheme (IES) that is set to expire on June 30. About Interest Equalisation Scheme (IES)
Special 301 report
The US Trade Representative’s (USTR) 2024 Special 301 report has once again included India in the ‘priority watch list’ of countries, along with China, Russia, Venezuela, and three others, for alleged problems related to IP (intellectual property) protection and enforcement. Read More …
Authorised Economic Operator (AEO)
The Union Ministry of Finance has assigned the Authorised Economic Operator (AEO) status to the gems and jewellery sector. Authorised Economic Operator (AEO)
RBI sets norms for voluntary conversion of small finance banks into universal banks
The Reserve Bank of India (RBI) on April 27 released the guidelines for the voluntary conversion of small finance banks (SFBs) into universal banks. Eligibility Universal banks (UBs) Small Finance Banks (SFBs) On-tap bank licensing
Inheritance taxes
A debate has arisen in India over ‘Inheritance tax’ following remarks by some politicians, however, the concept is not new in India. About inheritance taxes Estate Duty in India Gift Tax Wealth tax (Compiled from The Hindu, ET and Business Read More …
Vasuki indicus: The fossils of largest snake found in Gujarat
Researchers at the Indian Institute of Technology (IIT) Roorkee have discovered the fossils of one of the largest snakes that ever existed and likely lived 47 million years ago during a period called the Middle Eocene.
Greenium
The Sovereign Green Bonds (SGrBs) yield lower interest than conventional G-Secs, and the amount foregone by a bank by investing in them is called a greenium.
OTC derivatives
The Reserve Bank of India (RBI) has decided to permit resident entities to hedge exposure to price risk of gold using OTC derivatives in the IFSC, in addition to the derivatives on exchanges in the IFSC.
Key Fact Statement (KFS)
The Reserve Bank of India (RBI) has directed all banks and regulated entities that it cannot levy additional fees on loans that are not previously disclosed in the Key Fact Statement (KFS). Key points
Treaty-shopping
Bilateral tax treaties have served to prevent harmful double taxation and remove obstacles to cross-border trade in goods and services, and movements of capital, technology and persons.
Principal Purpose Test (PPT)
India and Mauritius have signed a protocol to amend the double taxation avoidance agreement (DTAA), which included a principal purpose test (PPT) to decide whether a foreign investor is eligible to claim treaty benefits.
Spring Meetings
The core days of the 2024 Spring Meetings of the International Monetary Fund (IMF) and the World Bank Group (WBG) were held from April 17 to 19, with ancillary meetings taking place Monday, April 15 through Saturday, April 20.
Qualified Institutional Placements (QIPs)
According to a recent report, equity fundraising through qualified institutional placements (QIPs) has gained traction this year.