Wealth Tax Current Affairs, GK & News

Argentina – Millionaire’s tax

Argentina parliament has imposed ‘millionaire tax’ on about 12,000 of the country’s richest people to fund coronavirus countermeasures. Under this scheme, people with declared assets worth more than 200 million pesos will pay a progressive rate of up to 3.5% on wealth in Argentina and up to 5.25% on wealth outside the country. The revenue ..

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Oxfam Annual Wealth Check report 2019: Key Facts

The Annual Wealth Check report 2019  of Oxfam has been released. The release of the report marked the start of the World Economic Forum in Davos. The important features of the report are: 26 richest billionaires own as many assets as the 3.8 billion people who make up the poorest half of the world. The ..

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RBI tweaks Gold Monetisation Scheme

The Reserve Bank of India (RBI) has made changes with the Gold Monetisation Scheme (GMS) to allow charitable institutions, central government entities and state government entities to deposit gold under GMS. Now the entities allowed to deposit gold under the scheme include Resident Indians [Individuals, HUFs, Proprietorship & Partnership firms, Trusts including Mutual Funds/Exchange Traded ..

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Merits and Demerits of Direct Taxes

There are different types of direct taxes such as Income Tax, Corporate Tax, Inheritance Tax, Property Tax, Wealth Tax (abolished now in India), Capital Gains Tax etc. Merits The key merits of the direct taxes are as follows: Progressive Tax The direct taxes follow the principle of ‘ability to pay’ because they are levied on ..

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