Author: Srishti Singh
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Netherlands Approves New 36% Tax Targeting Unrealized Financial Gains
On Thursday, the Dutch House of Representatives passed a law that will change how the country taxes investment gains, including those from crypto assets. The new rules will start on January 1, 2028. The new law, called the Actual Return in Box 3 Act (Wet werkelijk rendement box 3), will introduce a capital gains tax…
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Delhi High Court Rules in Favour of Withholding Tax on LG’s ICC World Cup Sponsorship Payments
The Delhi High Court has upheld the Income Tax Department’s decision to apply withholding tax to part of the sponsorship payments LG Electronics India made for advertising and promotional rights related to ICC Cricket World Cup events. In 2002, LG Electronics India Pvt. Ltd. entered into a Global Partnership Agreement with Global Cricket Corporation Pvt.…
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Deloitte to repay Australian government after $440,000 report produced using AI was found with multiple errors
Deloitte will provide a partial refund to the Australian federal government after errors were discovered in a report it produced. In August this year, Australian Financial Review (AFR) reported multiple errors in the report which also included the use of generative artificial intelligence (AI). The report, commissioned by the Department of Employment and Workplace Relations…
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How to transfer funds from NRO to NRE account?
Non-Resident Indians (NRIs) often operate various types of accounts in India, with the most common being NRE (Non-Resident External) and NRO (Non-Resident Ordinary) accounts. Both NRE and NRO accounts are denominated in Indian rupees, allowing NRIs to securely manage their finances in India. These accounts provide easy access to banking services such as deposits, withdrawals,…
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Trump renews threat to impose 100% tariffs on foreign movies
President Donald Trump announced this week his intention to implement a 100% tariff on all foreign-made films in order to promote domestic production in Hollywood and other filmmaking cities. In a social media post Monday morning, Trump lamented the “United States movie making business,” claiming it had been “stolen from the United States of America,…
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Trump slaps 100% tariff on branded pharma drug imports
Starting from October 1, the United States will impose a 100% tariff on imports of branded or patented pharmaceutical products. , Unless the company is building a manufacturing plant in the US, President Donald Trump said on Thursday. A 100 percent tariff means that the prices of imported pharmaceutical products will double for American importers…
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How New IRS Rules Affect SaaS Resellers in the U.S.
The Internal Revenue Service (IRS) has recently issued final regulations that significantly impact resellers of Software-as-a-Service (SaaS) products, especially for U.S.-based companies dealing with foreign vendors. These changes, which build on the foundations set by the 2019 Proposed Regulations, shift the landscape of how cloud transactions are treated under U.S. tax law. Let’s delve into…
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How will you save taxes even if you earn more than 12 lakhs?
Finance Minister Nirmala Sitharaman’s Budget 2025 introduces significant income tax relief, exempting individuals earning up to Rs 12 lakh from taxes. The budget clarifies the rebate available under Section 87A and introduces marginal relief for those earning slightly above Rs 12 lakh, ensuring they face minimal tax increases.
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Volkswagen sues Indian government over tax demand of $1.4 billion
Volkswagen has filed a lawsuit against Indian authorities to challenge a USD 1.4 billion tax demand, calling it “impossibly enormous” and contradictory to the country’s import taxation rules for car parts. The German automaker’s Indian unit, Skoda Auto Volkswagen India, argued before the High Court in Mumbai that the tax dispute jeopardizes its USD 1.5…
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Why Apple is ‘not ready’ to remove betting apps from App Store in India?
Apple has told Indian authorities that it will only take down online betting apps from its App Store if there is a “concrete reason or a legal requirement” to do the same Apple, however, has not directly refused to comply with the order issued by the ministry of electronics and information technology, but has clarified…
International Tax Panorama 