Pakistan’s tax exemptions hit $21 billion; exceed external debt repayments: Economic survey reveals

Pakistan’s tax exemptions to various sectors cost the country over $21 billion this year, more than the $17 billion it needs to repay in commercial and bilateral external debt, as revealed in the latest economic survey.Pakistan’s finance minister Muhammad Aurangzeb presented the Economic Survey of Pakistan 2024-25 on Monday, which outlines various economic developments and […]

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Republicans will pass Trump’s tax bill: Speaker Mike Johnson

WASHINGTON: With an uncharacteristically feistiness, speaker Mike Johnson took clear sides Sunday in President Trump’s breakup with billionaire Elon Musk.The Republican House leader and staunch Trump ally said Musk’s criticism of GOP’s massive tax and budget policy bill will not derail the measure, and he downplayed Musk’s influence over GOP-controlled Congress. “I didn’t go out […]

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Trump’s $5 trillion tax gamble sparks GOP revolt, market jitters; and a rare rebuke from Elon Musk

President Donald Trump is facing mounting resistance from Republican senators, financial markets, economists, and even Elon Musk, over his multitrillion-dollar tax cut plan, which critics say could explode the national debt and rattle an already wary economy.The House recently passed Trump’s proposed tax and spending cuts, but analysts say they would add over $5 trillion […]

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What is ‘No Tax on Tips’ act passed by the US republican senate

The Republican senate of the US has unanimously passed the “no tax on tips” bill on Tuesday. Surprisingly, the “no tax on tips” provision has received unanimous bipartisan acceptance. The proposed bill rule aims to remove federal income taxes on tips. ‘No tax on tip’, what is it? It was initially introduced by Republican senator […]

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Good news for Indians in Canada? How Mark Carney’s new tax cut could benefit middle class | World News

In its first major policy decision, the newly elected Mark Carney government has announced a reduction in federal income tax rates—offering relief to over 22 million Canadians.This includes a significant number of Indian immigrants living and working in Canada, many of whom fall within the income brackets that will see direct benefits from the change.What […]

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‘That’s unprecedented’: Kevin O’Leary slams Donald Trump’s tax bill as ‘war on small business’

Kevin O’Leary slams Donald Trump’s tax bill as ‘war on small business’ (Picture credit: AP, ANI) Investor and entrepreneur Kevin O’Leary has come out swinging against US President Donald Trump’s proposed tax plan, labelling a key portion of it as “anti-American” and a direct attack on small businesses.Speaking on Fox Business’s Varney & Co. Tuesday, […]

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Canada reduces income tax in first cabinet meeting of Carney government. How will it benefit Indians there?

Mark Carney government reduced income tax in its first decision after coming to power. The first cabinet meeting of the Mark Carney government decided to reduce the income tax for 22 million Canadians starting from July 1. This will help some families to save up to $840 a year, according to a calculation given by […]

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In Trump Tax Package, Republicans Target SNAP Food Program

House Republicans on Monday proposed a series of sharp restrictions on the federal anti-hunger program known as food stamps, seeking to limit its funding and benefits as part of a sprawling package to advance President Trump’s tax cuts. The proposal, included in a draft measure to be considered by the House Agriculture Committee this week, […]

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How the End of a U.S. Tax Loophole Hurts Chinese Companies

A loophole that has allowed American shoppers to buy lots of cheap goods from mainland China and Hong Kong without paying tariffs and filling customs forms is closing on Friday. Meaghan Tobin, a correspondent for The New York Times covering business in Asia, explains. Source link

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