Cryptocurrencies and NFTs, subject to a 30% tax in India
According to Union Finance Minister Nirmala Sitharaman, India has levied a 30% tax on any income derived from the transfer of virtual digital assets, such as cryptocurrencies and NFTs.
China’s 11th-Hour Tax Reprieve Welcomes Foreign Workers
HONG KONG, China—The Western business community applauded China’s decision to cancel plans to boost taxes on expatriates only hours before they were set to take effect, but the last-minute decision highlighted the country’s hurdles for international companies.
Hong Kong examining tax-privileged retirement products
Hong Kong: Qualifying Deferred Annuity Policies (QDAP) and Mandatory Provident Fund (MPF) Tax-Deductible Voluntary Contributions are two tax-deductible retirement savings products being investigated by Hong Kong authorities (TVC).
Commission applauds ECOFIN agreement on new VAT rate guidelines for the EU
The Commission welcomed the decision achieved by EU Finance Ministers at the ECOFIN Council meeting in Brussels on December 7, 2021, to revise the present rules controlling VAT rates for goods and services.
2022 budget expectations: Increased tax advantages on home loan principal and interest
The deduction ceiling under Section 80C was last increased in 2014 (to Rs 1.5 lakh per year), and an upward modification has been long overdue.