the uk cannot put off the transition to clean energy. our business editor simonjack with this report. 0nce once the north see if i did more energy than the uk needed but we now import half the energy we needed. the owners of this platform say a combination of windfall taxes and a labour promised a band new expiration is deterring investment from the uk and leaving the uk less energy secure and more vulnerable to future price shocks. ~ ., ., ., ., shocks. without additional licenses it shocks. without additional licenses it will shocks. without additional licenses it will be - shocks. without additional licenses it will be very - licenses it will be very difficult for the uk to produce its own energy which ultimately means that the uk will need to import energy from abroad. we do not want to be in a position that we are starving for energy. that we are starving for energy- that we are starving for eneru. , ., ., , energy. it s not really the uk s oil energy. it s not really the
gas volumes to europe, they are trying to reduce those prices those volumes will just trying to reduce those prices those volumes willjust go elsewhere. those volumes will ust go elsewherefi those volumes will ust go elsewhere. let s talk about windfall taxes elsewhere. let s talk about windfall taxes on elsewhere. let s talk about windfall taxes on energy i windfall taxes on energy poplars, something popular in this country but rejected by the prime minister and the chancellor is a way in which to tackle energy crisis. let s talk about energy situation in europe, how will the windfall tax hit energy industry? the windfall taxes tax hit energy industry? tie: windfall taxes already happened in the uk, produces in the uk have been hit by 25% windfall tax earlier this year, plans to increased windfall taxes in europe, will accrue some money to the government to offset the money they haven t been paid for high oil and gas in ports. windfall tax is a failure of taxation honesty, an
The real pain point for the stakeholders is the introduction of TDS at the rate of 1% on each and every transfer of crypto assets with effect from July 1, 2022
this problem, these problems that this agreement is trying to address have been going on for years and decades. you know, countries agree a change is needed to the international tax corporation, to the international system. multinationals also agree that change is needed and countries need a way to not only raise revenues, but also stabilise the tax system, which is very badly needed. 0k, critics of this say it doesn t go far enough, having this, for example, 15% minimum tax rate, it sjust too low for some people? right, that is a big sticking point, ithink. but i think we also have to really recognise, take a step back and think, these are major corporations and major economies talking about global minimum taxation which is really unthinkable say a decade ago. i started this job about ten years ago and to think that countries can even get to some agreement on the taxation
National
May 25, 2021
ISLAMABAD: The government is contemplating upon different options to provide relief to the country’s giant multinational companies including slashing down turnover tax from the existing rate of 1.5 per cent to 0.5 per cent in the upcoming budget.
On a unanimous charter of demands presented by three chambers including Overseas International Chambers of Commerce and Industries (OICCI), Pakistan Business Council (PBC) and American Business Council (ABC) during their virtual meeting with Federal Minister for Finance Shaukat Tarin on Monday, they tabled 10 major demands and reduction in the turnover tax at the existing rate of 1.5 per cent was described as a matter of their survival so they demanded reducing it to 0.5 per cent in the upcoming budget. The FBR high-ups were also present in the meeting.