Category: International Tax blog
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Raghuram Rajan warns of “Hindu rate of growth”
Why the Former Reserve Bank of India (RBI) governor Raghuram Rajan cautioned that India was “dangerously close” to the ‘Hindu rate of growth’? The term “Hindu rate of growth” was originally coined by Economist Raj Krishna in 1978, to refer to the meagre 3.5% growth in GDP between 1950s to 1980s . It is often…
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Why Shark Tank’s Epharmacy Pharmallama is in legal trouble?
Epharmacy Pharmallama who received funding from multiple investors on TV show Shark Tank India is in legal trouble. Delhi-based South Chemists and Distributors Association (SCDA), an association of pharmaceutical distributors has warned the startup and all investors of legal consequences for repacking drugs without obtaining license. This way Pharmallallma is operating in contraventions of multiple…
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The Negative Impact of Indian Budget on Indian Trusts
How the proposed Budget adversely affects Indian charitable trusts, including Tata Trusts and top corporate donors? Basically the new tax law proposed in the Budget, reduces tax breaks for the donor organisations. The Finance Bill proposes that if a charitable organisation donates to another charity, then only 85 per cent of the donation will be…
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Microsoft to invest in ChatGPT
❗️ Microsoft is planning to invest $10 billion in OpenAI, the startup behind popular artificial intelligence tool ChatGPT, according to a report from Semafor. ✅ The deal is part of a funding round with other investors involved that would value OpenAI at a whopping $29 billion. The plan is to close the deal by the end of…
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EDP Renewables will take legal action against Romania and Poland over energy taxes
Portugal’s EDP Renewables will take legal action against Romania and Poland where it operates 521 MW and 697 MW of renewables capacity respectively, over a new energy tax which could end up applying to unrealised profits. In order to comply with an European Union Council request for an emergency intervention to address high energy prices,…
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Microsoft-Activision Deal May Face Close Antitrust Scrutiny
In a rare historic moment in the gaming industry Microsoft agreed to acquire Activision Blizzard, a video game maker, for whooping $ 75 billion. This deal — if it gets finalised — is both horizontal and vertical integration, pairing Microsoft’s Xbox console business, which already owns huge game franchises like Minecraft and Halo, with one…
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Indian Government to introduce Cryptocurrency bill and seek ban on all private cryptos with few exceptions
During this winter session of Parliament, the government of India is set to table the Cryptocurrency and Regulation of Official Digital Currency Bill, 2021. The bill seeks to ban all private cryptocurrencies with ‘few exceptions’, the official document shared by the government says. It allows for certain exceptions to promote the underlying technology of cryptocurrency…
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Epic Games and Apple both took wins and losses
On friday morning, a U.S Federal judge put some new restrictions on Apple’s App Store rules in the Apple vs Epic case, that will impact all the developers, along with the game developers who are the biggest cash generators for Apple’s App Store. How the dispute began? Apple and Epic Games have been fighting for…
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Hackers steal $600 million in biggest cryptocurrency attack
Biggest hacking related theft in the crypto history took place on Tuesday. Cross-chain decentralized finance (DeFi) platform Poly Network was attacked where the alleged hacker stole $600 million in crypto. The tokens were valued at about $600m, consisting of more than $270m on the ethereum blockchain, $250m on the Binance Smart Chain and $84m on…
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Twitter loses its intermediary status in India
Twitter has lost its intermediary status in India by not complying with the new Information Technology (IT) Rules, which came into force from May 26. It means that Twitter and its top officials will now be liable for all the content on its platform, which is considered “inflammatory” or unlawful in nature. Why Twitter lost…
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