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Pinki Anand, a senior advocate at the Supreme Court of India, has called for a balanced approach to retrospective taxation in the online gaming sector, highlighting that current GST notices exceed what companies can realistically earn. She emphasized the need to align with global norms, which typically tax based on Gross Gaming Revenue (GGR), to foster investor confidence and business growth. Anand addressed these concerns at the Skoch Summit, advocating for fair taxation practices that support innovation without stifling the industry.
Neymar's father is facing significant legal and financial challenges, with tax debts totaling approximately 10.5 million Brazilian reais from 2022 to 2024 and 56 traffic violations amounting to 2 million reais since 2018. This precarious situation could damage Neymar's reputation and brand, as sponsors may reconsider partnerships if they perceive a negative association. To address these issues, consultation with financial and legal advisors is essential, along with negotiating payment plans and possibly considering bankruptcy.
Volkswagen's India unit faces a $1.4 billion tax evasion notice for allegedly misclassifying imports to evade higher duties. The notice claims the company imported nearly complete cars as individual parts, paying significantly lower taxes. This investigation highlights a deliberate strategy to avoid applicable duties on luxury models like Audi and Skoda.
India is set to expand electric vehicle (EV) manufacturing incentives, allowing automakers to qualify for benefits at existing factories rather than only new plants. A minimum revenue target will be established to ensure fairness among manufacturers. The revised policy aims to attract investments from companies like Toyota and Hyundai, following Tesla's withdrawal from local manufacturing plans.
China has reinstated multiple-entry visas for Shenzhen residents traveling to Hong Kong, effective December 1. Each visa allows stays of up to seven days and is valid for one year, reversing a 2015 policy that limited visits to once a week to address concerns over cross-border trading.
Mexico's President Claudia Sheinbaum stated that tariffs were not specifically discussed during her call with U.S. President-elect Donald Trump. This comes after Trump threatened a 25% import tax, which could violate a free trade agreement.
Russia's Federation Council has approved a bill for the taxation of cryptocurrencies, now awaiting President Putin's signature. This move marks a significant step in the country's regulatory approach to digital currencies.
The government is developing a comprehensive package for the aviation sector aimed at reducing user charges, easing regulations, and providing tax concessions. Led by Niti Aayog, the initiative involves multiple ministries focusing on regulatory relaxations, foreign investment attraction, and sustainability norms, while also enhancing immigration and security protocols. State governments are expected to support the development of regional airports.
Congressmen John Moolenaar and Jared Golden are pushing to suspend the 45X Advanced Manufacturing Production Tax Credit, citing concerns over Chinese companies benefiting from it if they establish factories in the US. While outright elimination is unlikely to gain support from US manufacturers, modifications to restrict access for Chinese firms are anticipated. The ongoing debate reflects broader bipartisan support for enhancing US clean energy manufacturing initiatives.
Italian tax police have conducted searches at several legal firms as part of an investigation into alleged tax fraud involving five individuals, including John Elkann, the Chair of Stellantis and Ferrari. Prosecutors announced the developments on Tuesday.

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