Direct Tax Collections – At an All-Time High! financialexpress.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from financialexpress.com Daily Mail and Mail on Sunday newspapers.
Central Board of Direct Taxes (CBDT) chairman Nitin Gupta said, G20 countries are working on automatic exchange of data related to undisclosed “immovable properties” abroad beyond the current arrangement of sharing financial data | Latest News India
Taxpayers in India have filed 1.68 million updated income-tax returns, resulting in an additional tax payment of around ₹1,300 crore. The Central Board of Direct Taxes (CBDT) chairman, Nitin Gupta, credits technology and tax deducted at source for ensuring compliance. The CBDT has also collected ₹600 crore from online gaming companies and ₹105 crore from cryptocurrencies in the current fiscal year.
The government on Wednesday projected a 10.5 per cent growth in revenues from corporate and individual income tax to Rs 18.23 lakh crore in the next fiscal.
Government announces $1.4 billion budget
The government of Antigua and Barbuda has announced an EC$1.4 billion budget for 2021, with the hopes that improvements in tax collection, an increase in capital spending, and overall enhancements in its fiscal strategy, will yield a projected growth rate of 3 percent.
“I am pleased, Mr Speaker, that this budget introduces no austerity measures, nor does it cut back on social sector spending on health, education and public services.
The budget also introduces no new taxes on our people. It merely strengthens tax administration and improves tax compliance,” Prime Minister Gaston Browne said in parliament on Thursday, before presenting this year’s budget.