Latest Expert Exchange Queries
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
 
 
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Service Tax | Sales Tax | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Indirect Tax | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing
 
 
 
 
Popular Search: TDS :: VAT Audit :: articles on VAT and GST in India :: ACCOUNTING STANDARD :: empanelment :: due date for vat payment :: Central Excise rule to resale the machines to a new company :: TAX RATES - GOODS TAXABLE @ 4% :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: list of goods taxed at 4% :: ARTICLES ON INPUT TAX CREDIT IN VAT :: ACCOUNTING STANDARDS :: VAT RATES :: form 3cd :: cpt
 
 
News Headlines »
 New board for indirect taxes to become operational from June 1
  9 changes that came into effect from April 1
 First time filing income tax? Here's all you need to know about Form 16 and Form 26AS
 New Opening Financial Controller Chartered Accountant (Manufacturing Plant) A Leading Company
 Income Tax Filing 2017: All you want to know about the single page ITR form SAHAJ
 How to benefit from investments in tax saving mutual funds
 60 per cent of income tax notices on fishy cash deposits returned
 All about income tax return form Sahaj
 Why seeing Form 26AS is a must before filing tax return and how to access it
 No tax on notice period pay cut
 Interpretation Of Central Goods And Services Tax (Cgst) Act (Part-1)

Many nations may hike tax
September, 04th 2009

The governments around the world may consider funding their increasing deficits by hiking personal income tax rates, though India may not be one among those, with the tax rates in the country nearly constant over the last seven years.

The highest tax rate applicable on an income of over Rs 5,00,000 per annum stands at 30 per cent in India. While, this rate has remained unchanged for the last seven years in the country but several nations have witnessed a decline in these rates, said a tax survey by global financial consultancy firm KPMG.

"While the trend has been a general decline in rates over the past seven years, there are preliminary indicators that a reversal may be on the way," said the report.

This year itself Ireland introduced the income levy where higher rates are charged at income levels over 250,120 Euro. Also, next year the UK budget is slated to raise the highest personal income tax rate to 50 per cent on income of over 150,000 Great Britain Pounds, said the report.

Even in the United States there are speculations that the top tax rates may be increased, it said.

However, it also added that the reversal trend in income tax rates may also create other pitfalls like how much high income earners should spend on goods and services and others.

Among those countries with high tax rates are Denmark with the highest personal income tax rate at 62.3 per cent.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Customer relationship management software CRM software Operational CRM Collaborative CRM

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions