OECD Current Affairs, GK & News
Canada’s digital services tax
Canada has decided to impose a digital services tax on large companies that sell various services in Canada. About the tax Under the new rules of the Canadian government, a 3% digital services tax will be imposed on the companies with total annual revenue of at least $850 million and profits of $16 million or ..
Month: Current Affairs - March, 2022
Category: Economy & Banking Current Affairs - 2022
Topics: Canada • digital services tax • GMCT • OECD
IEA’s Electricity Market Report
The International Energy Agency (IEA) released its early 2022 edition of the bi-annual Electricity Market Report. Key facts of the report As per report, countries are largely turning to fossil fuels for meeting the increase in electricity demand, as Covid-19 lockdown restrictions are lowering down. Global electricity demand increased by 6% year-on-year in 2021. It ..
Month: Current Affairs - January, 2022
Category: Reports & Indexes Current Affairs
Topics: IEA's Electricity Market Report • International Energy Agency (IEA) • OECD • Organisation for Economic Co-operation and Development (OECD)
India joins G20-OECD Tax Framework deal
India and majority members of OECD and G20 Inclusive Framework on Base Erosion & Profit Shifting adopted a high-level statement that outlines a consensus solution in a bid to address tax challenges that are arising from digitalisation of economy. Key Points This proposed solution comprises of two components: First pillar is about reallocation of additional ..
Month: Current Affairs - July, 2021
Category: Economy & Banking Current Affairs - 2022 • International / World Current Affairs
Topics: G20 Countries • G20-OECD tax framework • Global Minimum Tax Rule • India-G20 • India-OECD • OECD • Treaty Shopping
What is Significant Economic Presence (SEP) principle?
India recently notified Digital Tax threshold of two crore rupees and 300,00 users under the Significant Economic Presence principle. This threshold was notified for non-resident technology firms such as Netflix, Facebook, Google, to pay tax in India. The principle was first introduced in the Finance Bill 2018-19. It was adopted to address the challenges of ..
Month: Current Affairs - May, 2021
Category: Economy & Banking Current Affairs - 2022
Topics: digital tax • equalization levy • Facebook • Finance Bill • G20 • Google • Netflix • OECD
European Union bans Export of Plastic Waste to poor countries
The European Union recently announced that it is to completely ban the exports of unsorted plastic to poor countries. The new rules of the European Union will amend the 2006 Waste Shipment Regulation. The new rules are to ban the exports to less industrialised nations outside OECD. Highlights The new rules are a part of ..
Month: Current Affairs - December, 2020
Category: Environment Current Affairs
Topics: Basel Convention • Basel Convention on the Control Of Hazardous Wastes • European Union (EU) • Hazardous waste • OECD • Plastic Waste • Plastic Waste Management • Recycling
Union Cabinet: MoU between India and Spain in Astronomy approved
On November 4, 2020, the Union Cabinet chaired by PM Modi approved the Memorandum of Understanding signed between India and Spain. The MoU will facilitate scientific and technical collaborations between the countries in the field of Astronomy. Key Highlights The MoU was signed between the Instituto de Astrofiscia de Canarias of Spain and the Indian ..
Month: Current Affairs - November, 2020
Category: Science & Technology Current Affairs
Topics: Astronomy • European Union • FDI • india-spain • OECD • Trade and investment • Union Cabinet