G7 nations reach ‘historic’ agreement over global corporate tax

Finance ministers from wealthy G7 nations on Saturday pledged to commit to a global minimum corporate tax of at least 15 percent, rallying behind a US-backed plan. “We… commit to a global minimum tax of at least 15 percent on a country by country basis,” said a statement at the conclusion of their London meeting. … Read more

I-T officers to be fair, courteous; taxpayers should be honest, compliant: Charter

The tax department has committed to treat every taxpayer as honest, unless proven otherwise, and provide fair, courteous and reasonable treatment, according to the taxpayers’ charter adopted on Thursday. The charter also expects taxpayers to pay taxes on time and be honest and compliant. Prime Minister Narendra Modi launched the platform ‘Transparent Taxation – Honoring … Read more