{ }
The banking industry may benefit from less regulation and potentially higher interest rates, allowing for increased lending, though concerns about regional banks' exposure to commercial real estate persist. In the housing market, high mortgage rates have stifled activity, with lower rates seen as a potential catalyst for growth, contingent on forthcoming policies from the next administration. Meanwhile, the technology sector remains strong, driven by major players, but faces scrutiny over antitrust issues and high valuations, prompting cautious investment strategies.
The CBDT's report on black money highlights the issue of repeat penalties for individuals who fail to disclose foreign assets. Under the existing tax framework, each year's income-tax return is considered a new obligation, resulting in penalties for non-compliance in subsequent years.
The Finance Ministry has clarified that while certain government-backed health and life insurance schemes are exempt from GST, there are no plans to extend this exemption to all policies. Exemptions currently apply to programs like the Rashtriya Swasthya Bima Yojana and Pradhan Mantri Jeevan Jyoti Bima Yojana, which target economically disadvantaged groups. A Group of Ministers has been formed to evaluate the implications of GST on these sectors, with their recommendations pending review by the GST Council.
The Centre is considering an arbitration mechanism to alleviate the litigation burden on taxpayers and government officials, with plans potentially included in the upcoming Budget 2025. This initiative aims to enhance the ease of doing business and reduce case backlogs, as discussions for a dedicated arbitration desk are underway. Taxation experts view this approach as a transformative step for managing tax disputes effectively.
Elon Musk's influence over the automotive industry raises concerns as US automakers, having invested nearly $146 billion in electric vehicles, fear potential rollbacks of emissions regulations under a new administration. With Trump’s past grievances against the industry, companies are lobbying to maintain stability in emissions standards to protect jobs and investments. The shift towards electric vehicles is seen as inevitable, but uncertainty looms over the future of traditional car sales and compliance with evolving regulations.
President-elect Donald Trump has nominated Brooke Rollins, president of the America First Policy Institute, as agriculture secretary, emphasizing her commitment to American farmers and food self-sufficiency. If confirmed, she will oversee a $437.2 billion agency responsible for various agricultural and nutrition programs, trade negotiations, and rural development initiatives. Rollins will also play a key role in addressing clean fuel tax credits for biofuels and renegotiating the U.S.-Mexico-Canada trade deal amid ongoing disputes.
Trump's administration may seek to expand fossil fuel production by rolling back regulations and increasing oil and gas leases, despite potential legal challenges and corporate hesitance. However, the market's shift towards clean energy could limit the effectiveness of these efforts, as demand for fossil fuels declines amid rising competition from renewable sources.
New Jersey Governor Phil Murphy is determined to block New York City's congestion pricing plan, stating, “We’re going to try like heck” to stop it. However, he is open to negotiations that would allow a portion of the revenue to benefit New Jersey, urging the MTA to explore alternative funding options.
The U.S. Transportation Department has approved New York's plan to implement a $9 congestion mitigation charge for driving in Manhattan, set to begin on January 5. This initiative aims to generate billions for mass transit improvements and reduce traffic congestion in the city.
Kai-Uwe Steck, a key witness in the Cum-Ex scandal, has chosen to remain silent during his own trial concerning a €428 million tax scheme. Despite previously providing extensive testimony about his involvement, he has opted not to comment at this stage, though he may do so later, according to a Bonn court spokeswoman.

Machinary offers a groundbreaking, modular, and customizable solution that provides advanced financial news and statistical analysis. Our platform goes beyond traditional quantitative analysis, offering users a comprehensive understanding of real-time market dynamics, event detection, and risk analysis.

Address

Waitlist

We’re granting exclusive early access to the first 500 users from december 20.

© 2024 by Machinary.com - Version: 1.0.0.0. All rights reserved

Layout

Color mode

Theme mode

Layout settings

Seems like the connection with the server has been lost. It can be due to poor or broken network. Please hang on while we're trying to reconnect...
Oh snap! Failed to reconnect with the server. This is typically caused by a longer network outage, or if the server has been taken down. You can try to reconnect, but if that does not work, you need to reload the page.
Oh man! The server rejected the attempt to reconnect. The only option now is to reload the page, but be prepared that it won't work, since this is typically caused by a failure on the server.