MarketCurrents welcomed Bharat Bhise of Bravia Capital in New York as well as Nitai Utkarsh of HeroMoto Corp’s family office based out of Delhi. Sumehr Sondhi moderated this panel on The Indian Investment Landscape.Read More
A Looming Corporate Tax Hike Creating Panic Among Wealthy Americans
June 16. 2021
Within 100 days of his presidency, president Joe Biden outlined an ambitious undertaking for the new administration. He called it the Build Back Better program. It includes the American Rescue Plan Act (already enacted), the proposed American Jobs Plan, and the American Families Plan. But the possibility of the proposed plans coming to fruition diminishes by the day for one critical reason. Mr. Biden's administration needs to make substantial adjustments to the US tax law to raise sufficient funds for the program. A new tax code will s...
Indonesia Targets its Billionaires For More Tax Revenue
June 02. 2021
Indonesia needs more money to fund government projects. It also needs to raise more tax revenue to reduce the budget deficit. It plans to drill deeper into the pockets of its wealthy citizens to get the money. In addition to being the largest economy in Southeast Asia, Indonesia is set to record the world’s fastest increase in the number of billionaires in the next five years, according to Knight Frank’s 2021 Wealth Report. As Indonesia’s billionaires increase, the government wants to get them to pay more to strengthen the state’s b...
South Africa sets up special tax unit for millionaires
May 13. 2021
South Africa’s high net worth individuals now have a whole unit at the tax agency looking at them. That makes many millionaires nervous. Should they? It is important to take note of what the South African Revenue Service (SARS) is trying to do. The objective of the unit is to improve tax compliance and collection. The SARS has acquired high-tech tools and recruited highly skilled staff to help it ensure that the rich in the country pay up their fair share of the tax. The unit has started issuing notices or welcome letters to people whose ...