tax reform News

India's Proposed GST Rationalization: A Boost for Domestic Consumption Amid Global Challenges

India's proposed GST rationalization is set to strengthen domestic consumption and support the economy against global challenges, with economists highlighting the positive impact o...

Finance Minister's Intensive 6-Month GST Revamp Effort: Nearly 50 High-Level Meetings Unveiled

Finance Minister Nirmala Sitharaman leads a 6-month GST revamp, conducting nearly 50 meetings to simplify processes, address complaints, and improve compliance, aiming for a more p...

Revolutionary Changes Ahead: New Income Tax Bill 2025 to Replace 1961 Act, Easing Taxpayer Burdens

The New Income Tax Bill 2025, passed by the Lok Sabha, aims to modernize India's taxation system by simplifying procedures and reducing compliance burdens. Key changes include a un...

Breaking: Lok Sabha Greenlights Revolutionary Income Tax Bill to Simplify Taxpayer Compliance

The Lok Sabha has approved the Income Tax Bill 2025, introducing significant reforms to simplify tax compliance and reduce burdens on taxpayers. Key changes include shorter filing ...

South Korean SMEs and Corporations Brace for Significant Tax Increases Amid Global Economic Shifts

South Korea announces a significant tax reform, increasing corporate taxes for the first time in eight years, affecting SMEs and large corporations alike. The move contrasts with g...

South Korea Announces Major Tax Overhaul: Corporations, Banks, and Investors Face 8.1 Trillion Won Hike

South Korea's 2025 tax reform introduces significant increases in corporate, education, and securities transaction taxes, aiming to raise 8.1 trillion won annually. Concerns arise ...

Major GST Overhaul Approved: 12% Tax Slab May Be Eliminated in Upcoming Reforms

The Goods and Services Tax (GST) is set for a major overhaul, with the 12% tax slab possibly being eliminated. The PMO has approved the restructuring, aiming to simplify the tax sy...

New Income Tax Bill Set for Introduction in Parliament This Tuesday: What to Expect

Finance Minister Nirmala Sitharaman is set to introduce a new income tax bill in Parliament aimed at simplifying tax laws. The bill, approved by the Cabinet, will undergo examinati...

CII Advocates for Fuel Excise Duty Reduction to Stimulate Economic Growth

The Confederation of Indian Industry (CII) proposes reducing excise duty on fuel and personal income tax rates to stimulate economic growth, address inflation, and enhance consumpt...

Korea's Capital Market: Undervalued Despite Surging Foreign Investment

The Korean government's tax reform bill and value enhancement program have attracted foreign investment, particularly in the finance and automotive sectors. However, Mixo Das, JP M...