Tax Cut Current Affairs, GK & News

UK scraps tax cut for wealthy

In a policy reversal, the UK Prime Minister has scrapped the tax cut for the wealthy. This controversial tax cut had notably sparked market turmoil and caused the Pound to plunge to record low values. Key facts On September 23, the UK Finance Minister released a mini-budget (not an official budget) containing 23 announcements, including ..

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India cuts Crude Palm Oil Import Tax

India has cut import tax on crude palm oil from 15 % to 10% for three months. This new duty would be effective from June 30, 2021. Key Points India is world’s biggest importer of vegetable oils. But it has been struggling to bring down edible oils prices.  Thus, decision to reduce the import tax ..

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