July 30, 2010
Govt excludes 9 services from tax net for shipping industry
Government has decided to exempt nine services availed abroad by Indian shipping industry from the service tax net with effect from June 16. These exemptions would only apply in such cases where taxable services are provided when handling of ships at a port outside India or storage of goods carried in a ship at a foreign port.
Most people think tax system unfair
Taxes rise and fall from one administration to the next, but the unpopularity of the income tax system is constant. An Ipsos Poll finds that almost six of 10 people say the system is unfair, a percentage virtually unchanged from two decades ago.
VIETNAM PASSES TAX INCREASE ON IMPORTED AUTO PARTS
Transport   The impending second car part tax increase is forecast to trigger a new wave of price increases in Vietnam.
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