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Review penalty for non-disclosure of foreign assets

A recent tribunal decision upholding a penalty of ₹10 lakh for non-disclosure of foreign assets brings up concerns about the proportionality of the penalty. The government should consider whether the cost of litigation is in the country s interest and if a more nominal penalty would be appropriate. ....

Supreme Court , Liberalised Remittance Scheme , Foreign Assets Schedule , Black Money Act , Foreign Assets , Undisclosed Foreign Assets , Foreign Incomes ,

Signed, sealed, delivered: Biden signs Inflation Reduction Act enacting "new" corporate minimum tax | Eversheds Sutherland (US) LLP

On August 16, 2022, President Biden signed the Inflation Reduction Act of 2022 (the IRA) into law. Among the most notable IRA provisions is a 15% corporate alternative minimum. ....

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