Demand to restore minimum 30% tax on corporate profits, end all tax havens

By A Representative
Top environmental group Environics Trust has demanded that India should stop the current race to reach “the bottom of corporate taxation”. Demanding that India should lead the way to stop the “relentless race to the bottom of corporate taxation”, it said, “In the past few years, we have seen dramatic reduction in corporate taxes with a concurrent increase in indirect taxes, tolls and user fees which burden the poor.”
“Several other tax incentives, some in the name of ease-of-doing-business and some in the name of Covid have boosted the corporate profits, which is reflected in the soaring stock market indices”, the statement says, adding, “This is a time when the unemployment rates are touching the highest levels since independence, fuel prices have sky-rocketed – while global crude prices remain subdued – and health and education burden on the poor is breaking their backs.”
The NGO said, “In midst of such circumstances, the Organisation for Economic Co-operation and Development (OECD), G-7 and G-20 are pushing for a minimum global tax of 15 per cent. In our country we have witnessed that any attempt at fixing minimum, ends up being the norm, the greatest example being workers’ wages. Most corporates think that minimum wages prescribed is what is to be paid, so will it be with the taxes.”
“We categorically reject the idea of 15 percent tax on the corporates”, the NGO said, adding, “The minimum must be pegged higher, as almost all countries have various incentives which are location or category based. Since markets are perfectly imperfect, the idea of competition reducing prices for the consumer is completely untenable. We are seeing that products which have very little intrinsic value are priced very high and corporate revenues are delinked from such considerations.”
“Therefore”, it demanded, there should be “a restoration of tax to a minimum of 30 percent of the profits of all corporate entities and ensure a complete closure of all tax havens and jurisdictions that allow for such manipulation. Taxes must be paid to those from who revenues are generated. We demand fair and progressive tax structures across the globe and not the G-7/G-20/OECD tax deal.”

Comments

Anonymous said…

has it been banned in india for anti supreme leader activities ?

September 24, 2021

When democracy becomes a performance: The Tibetan exile experience

By Tseten Lhundup* I was born in Bylakuppe, one of the largest Tibetan settlements in southern India. From childhood, I grew up in simple barracks, along muddy roads, and in fields with limited resources. Over the years, I have watched our democratic system slowly erode. Observing the recent budget session of the 17th Tibetan Parliament-in-Exile, these “democratic procedures” appear grand and orderly on the surface, yet in reality they amount to little more than empty formalities. The parliamentarians seem largely disconnected from the everyday struggles faced by ordinary exiled Tibetans like us.

Civil society flags widespread violations of land acquisition Act before Parliamentary panel

By Jag Jivan Civil society organisations and stakeholders from across India have presented stark evidence before the Parliamentary Standing Committee on Rural Development and Panchayati Raj , alleging systemic violations of the Right to Fair Compensation and Transparency in Land Acquisition, Rehabilitation and Resettlement (RFCTLARR) Act, 2013 , particularly in Scheduled Areas and tribal regions.

Beyond the island: Top mythologist reorients the geography of the Ramayana

By Jag Jivan In a compelling new analysis that challenges conventional geographical assumptions about the ancient epic, writer and mythologist Devdutt Pattanaik has traced the roots of the Ramayana to the forests and river systems of Central and Eastern India, rather than the peninsular south or the modern island nation of Sri Lanka.

Dr. Ram Bux Singh: Biogas pioneer’s legacy gains urgency amid energy crisis

By A Representative In an era defined by a global energy crisis and a desperate search for sustainable solutions, the visionary work of an Indian scientist from the mid-20th century is finding renewed, urgent relevance. Dr. Ram Bux Singh , a pioneering figure in biogas and renewable energy , is being posthumously honored by the Government of India, even as his decades-old innovations provide a blueprint for today’s challenges.

Alarming decline in India's repair culture threatens circular economy goals: Study

By Jag Jivan A comprehensive new study by environmental research and advocacy organisation Toxics Link has painted a worrying picture of India's fading repair culture, warning that the trend towards replacement over repair is accelerating the country's already critical e-waste crisis.

The soundtrack of resistance: How 'Sada Sada Ya Nabi' is fueling the Iran war

By Syed Ali Mujtaba* The Persian track “ Sada Sada Ya Nabi ye ” by Hossein Sotoodeh has taken the world by storm. This viral media has cut across linguistic barriers to achieve cult status, reaching over 10 million views. The electrifying music and passionate rendition by the Iranian singer have resonated across the globe, particularly as the high-intensity military conflict involving Iran entered its second month in March 2026.

Protesters in UK cities voice concerns over alleged developments in Bastar region

By A Representative Demonstrations were held across several cities in the United Kingdom on March 28, as groups and activists gathered to protest what they described as state actions in India under the reported “Operation Kagar.”

Manufacturing, services: India's low-skill, middle-skill labour remains underemployed

By Francis Kuriakose* The Indian economy was in a state of deceleration well before Covid-19 made its impact in early 2020. This can be inferred from the declining trends of four important macroeconomic variables that indicate the health of the economy in the last quarter of 2019.

Food security? Gujarat govt puts more than 5 lakh ration cards in the 'silent' category

By Pankti Jog* A new statistical report uploaded by the Gujarat government on the national food security portal shows that ensuring food security for the marginalized community is still not a priority of the state. The statistical report, uploaded on December 24, highlights many weaknesses in implementing the National Food Security Act (NFSA) in state.

Search This Blog