Originally posted by HairyArsedBloke
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You're a permie !
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No, 10 yrs successfull contracting in UK and Europe, though the best gigs were UK based. Senior SAP con = top rates. Sorry to post a UK success story. I'm boomed, not fcuked like you.
You're a permie !
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Meanwhile, as the UK agonises over tax increases
Eh? who is agonising?Leave a comment:
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It would help if you read the articles you so carefully cut and paste. I'll help you by summarising it.
It talks about increasing taxes eg while broadening the tax base to fund an expanding budget deficit
The corporation tax at 25% is nothing special. UK is 28%, Ireland is 12.5%.
As for UK being fcked - maybe with people like you, we are, but that is balanced the many who do work and try hard, get on, pay their taxes and do well - me included.
PS: 1M rupees is f allLeave a comment:
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Meanwhile, as the UK agonises over tax increases, ....
Bloomberg: India to Cut Corporate Tax Rates, Raise Collections
Debt at less than 7% of GDP, 25% corporation tax, 10% personal tax on incomes less than 1 Million rupees.Aug. 12 (Bloomberg) -- India’s government proposed reducing corporate tax rates to a record low while broadening the tax base to fund an expanding budget deficit in the biggest change to tax laws in almost five decades.
Finance Minister Pranab Mukherjee proposes to reduce tax rates for companies including Reliance Industries Ltd., the nation’s biggest by market value, to 25 percent from about 30 percent, according to a statement in New Delhi. Taxes on equities trading in Asia’s second-biggest emerging market may be abolished.
Mukherjee would pay for that by reining in widespread tax evasion that leaves the government reliant on only 27 million people who pay taxes out of a population of 1.2 billion, the world’s second-largest. Better compliance would also raise more revenue to help plug a budget deficit that is expected to widen to a 16-year high of 6.8 percent of gross domestic product in the current year.
“The changes will definitely help bring in more people under the tax net,” said N.R. Bhanumurthy, an economist at the Institute of Economic Growth in New Delhi. “Higher revenue is the most important need of the hour and may help the government fight the challenges ahead.”
The government plans to spend 10.2 trillion rupees ($211 billion) in the current year. The finance minister yesterday raised the direct tax collection target to 4 trillion rupees for the year to March 31, from an earlier forecast of 3.7 trillion rupees, saying the government needs more money to fight the “impact on finances due to unanticipated drought.”
Lowest Rate Ever
The proposed 25 percent tax rate for companies would be the lowest ever for India, Vikas Vasal, executive director of KPMG India Pvt., said by telephone.
That would bring India’s tax rate in line with that of China, the largest emerging economy, and would compare with 35 percent in Pakistan and the Philippines, and 30 percent in Thailand, according to 2008 data compiled by KPMG LLP.
Curbing tax evasion would also allow the government to lower individual tax bills. Incomes of up to 1 million rupees would be taxed at the minimum rate of 10 percent under the proposed rules. Now, the minimum rate applies only to incomes of 300,000 rupees and below.
Tax evaders may face prison terms up to seven years and fines to ensure compliance.
“The thrust of the code is to improve the efficiency and equity of our tax system by eliminating distortions in the tax structure, introducing moderate levels of taxation and expanding the tax base,” Mukherjee said today. “The attempt is to simplify the language to enable better comprehension and remove ambiguity to foster voluntary compliance.”
The proposed changes, which need to be approved by parliament, may become effective from 2011, Revenue Secretary P.V. Bhide told reporters in New Delhi.
The UK is so fraked.
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