Finance Acts

Saturday, 01 October 2022

Latest News for: Finance acts

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Tax collection jumps, returns filing date extended

Dawn 01 Oct 2022

The significant revenue increase in September is largely the outcome of various policy and revenue measures introduced by the government in the Finance Act 2022 ... On the sidelines of announcing the petroleum prices for next quarter, Finance Minister Ishaq Dar said that the last ...

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House passes Bill to dissolve anti-graft panel: was a burden on exchequer, not serving any ...

Indian Express 01 Oct 2022

Therefore, to avoid overlapping, contradictory findings, resultant delays and gaps in communication, it has become necessary to repeal the Punjab State Vigilance Commission Act, 2020, said the CM ... Finance Minister Harpal Singh Cheema moved the amendment Bill, saying tax evaders will be dealt with severely.

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EasyJet Ditches Carbon Offsetting in Favor of Actually Cutting Emissions

Treehugger 01 Oct 2022

But let’s not let those announcements distract us from the reality that policy—including frequent flier levies, and supporting alternatives to aviation—can help further reduce emissions while the industry gets its act in gear ... "Aviation Climate Finance Using A Global Frequent Flying Levy." International Council on Clean Transportation ....

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SC to hear FBR appeal against SHC decision on phone call levy

Dawn 30 Sep 2022

The case involves levy of excise duty on the telecom sector imposed as federal excise duty at a rate of 75 paise per call if it exceeds five minutes by inserting Clause 6A in Table 11 of the 1st Schedule of the Federal Excise Act 2005 through Finance Act 2021-2022 ... Act 2005.

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W’Bank Approves $750m to Strengthen Business Enabling Environment in States

This Day 30 Sep 2022

· FG considers more policy actions to support MSMEs in 2022 finance act ... FG Considers More Policy Actions to Support MSMEs in 2022 Finance Act ... He said, “We have successfully facilitated the approval and implementation of three Finance Acts and have reached an advanced stage in the preparation of the 2022 Finance Act.

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FBR releases procedure, collection of Capital Value Tax

Urdu Point 30 Sep 2022

The Federal Board of Revenue has taken the step after the federal govt through Finance Act, 2022 imposed capital value tax on sale of immovable properties and motor vehicles ... The development took place after the government through Finance Act, 2022 imposed capital value tax on sale of immovable properties and motor vehicles.

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Punjab assembly passes bill to dissolve state vigilance commission

Hindustan Times 30 Sep 2022

Therefore, to avoid overlapping, contradictory findings, resultant delays and gaps in communication, it has become necessary to repeal the Punjab State Vigilance Commission Act 2020 (Punjab Act No 20 of 2020),” the CM announced in the House, adding that the decision was taken in larger public interest ... Amendment in village common lands Act.

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Japan's forex intervention hits record 2.84 tril. yen to stem yen fall

Kyodo 30 Sep 2022

dollar, Finance Ministry data showed Friday ... Finance Minister Shunichi Suzuki has said the rare intervention was aimed at "correcting" speculative moves in the currency market, warning that Japan will take further steps if needed as currency movements should be stable, not "rapid and one-sided." ... Japan to act if needed against speculative yen moves.

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$100m of Ghana’s oil money unaccounted for – Minority raises alarm

Joy Online 30 Sep 2022

It said this “amounts to a gross violation of the Petroleum Revenue Management Act, 2011 (Act 815) and Public Financial Management Act (Act 921).”. The Minority also alleged that the Finance Minister has ceded shares from the 2021 Occidental (Oxy) transaction in respect of the ...

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Atal Pension Yojana (APY) to end for taxpayers from today: What’s now for them? | Mint

Live Mint 30 Sep 2022

Zubin Daboo,Head of Marketing, Epsilon Money Mart said “According to a gazette notification issued by the Ministry of Finance, any citizen who is or has been an income tax payer according to the Income Tax Act will not be eligible to join the Atal Pension Yojana or APY from October 1, 2022 ... as specified under section 80CCE of the Income Tax Act.

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Intervention last month in Japan was likely a record

Taipei Times 30 Sep 2022

The Japanese Ministry of Finance yesterday said that it spent ￥2.84 trillion (US$19.7 billion) last month to slow the yen’s slide in its first intervention to support the currency since 1998 ... Japanese Minister of Finance Shunichi Suzuki has made clear that the nation is ready to act again against excessive speculative moves.

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16 insurance firms caught evading GST worth ₹824 crore: Govt

Hindustan Times 30 Sep 2022

“Several non-banking financial companies (NBFCs) engaged in micro-financing businesses are acting as corporate agents of the insurance companies and are cross-selling their single premium credit linked insurance policies in the course of their lending business.

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₹824cr GST fraud by 16 insurance companies detected

Hindustan Times 30 Sep 2022

“Several non-banking financial companies (NBFCs) engaged in micro-financing businesses are acting as corporate agents of the insurance companies and are cross-selling their single premium credit liked insurance policies in the course of their lending business.

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Land banks prove their power — if used correctly

Grand Rapids Business Journal 30 Sep 2022

Land banks have proven to be a powerful economic development tool since the Michigan Legislature’s adoption of the Land Bank Fast Track Act nearly 20 years ago ... Land banks can assist in other areas of property development — namely under the Brownfield Redevelopment Financing Act, which is commonly referred to as Act 381.

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IT Dept notifies mechanism for re-computation of income without allowing claim for deduction of surcharge, cess

Business Line 30 Sep 2022

The Finance Act 2022 has an explanation which says the term “tax” includes and shall be deemed to have always included any surcharge or cess, by whatever name called, on such tax ... ....