TAX LAW

Tax law is the codified system of laws that describes government levies on economic transactions, commonly called taxes.

India Allays US Allegations That Retrospective Tax Law Amendments Are Discriminatory

India on Friday allayed US allegations that the proposed retrospective amendments to the Indian tax laws are discriminatory and will adversely impact the US investments.Indian Finance Minister Pranab Mukherjee told Lok Sabha that the proposed amendments will not have any negative impact on the foreign investments. His clarification came after the new US ambassador to India Nancy Powell raised the issue in a business meeting on Friday at New Delhi.

Retrospective Tax Law: US Seeks Reassurance From India

US Treasury Secretary Timothy Geithner pressed India’s Finance Minister Pranab Mukherjee on Thursday for reassurance that New Delhi welcomes foreign capital and remains committed to boosting bilateral trade and investment, following concerns connected to India's newly proposed retrospective tax measures.

Sprint Sued By New York For $300 Million; Service Provider Denies Tax Fraud

Sprint Nextel Corp., which is the third-biggest mobile service provider in the U.S., has been sued by the state of New York for allegedly not collecting or paying millions of dollars in taxes. Though Sprint denies these accusations, the company stands to pay more than $300 million if the claims are proven true.

Health Care Reform: Supreme Court Begins 3 Day Review of Affordable Care Act Mandate, 10 Things To Know

The Supreme Court will begin a three-day review of the Affordable Care Act, known to some as either the health care reform or Obamacare, on Monday, which will go down in history as a landmark case, perhaps the most monumental in more than a decade. Justices will decide whether the mandate, which would require all Americans to buy health care, for the 2010 Affordable Care Act is constitutional or not. Here are 10 things to know about the landmark Affordable Care Act case.

Gillard Govt Passes 30% Australian Mining Tax

The new law, which has been the source of fierce battles between industry and government officials for two years, will affect around 30 companies, including international mining giants BHP Billiton, Rio Tinto and Xstrata.

Obama to Propose 28% Corporate Tax Rate

The Obama administration on Wednesday will propose cutting the top tax rate for corporations to 28 percent, and pay for it by eliminating dozens of tax loopholes companies now use to lower their rates, a senior administration official said.

President Obama to Pitch Cutting Top Corporate Tax Rate of 35%

U.S. President Barack Obama will call for cutting the top 35 percent corporate tax rate as early as this month, according to two sources close to the administration. The president is likely to propose a rate closer to an average of those seen in peer nations, the sources said.

Vodafone Gets Relief in £1.4 bnTax Bill Case

Vodafone, challenging the tax bill over its $11 billion deal to buy Hutchison Whampoa Ltd's Indian mobile business in 2007, had appealed to the Supreme Court after losing the case in the Bombay High Court in 2010.

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U.S. Taxes

Romney’s Tax Rate is About 15% - The Bain of His Political Existence?

Republican presidential candidate Mitt Romney’s admission that his income tax rate was “probably closer to 15 percent than anything” may re-ignite the debate on the lower tax rate for capital gains and carried interest than for ordinary income -- the income category for most typical Americans.
For Discussion: U.S. Taxes

Republicans Show Rare Discord Over Tax Policy

The Republican brand, built on a rock-solid no new tax pledge to voters, is showing a few cracks as internal party divisions erupt in the face of rapidly escalating U.S. government debt.
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