Thursday , June 11, 2026 |   12:08:46 IST
INTL TAXATION INTL MISC TP FDI LIBRARY VISA BIPA NRI
About Us Contact Us Newsletters
 
NEWS FLASH
 
I-T - Final assessment orders barred by limitation as per Section 153 r.w. Section 144C, are void ab initio and liable to be quashed: ITAT (See Breaking News) I-T - Funds sourced from foreign earnings & credited to NRE accounts cannot be treated as unexplained income where Department does not produce evidence to show that such amount represents undisclosed income: ITAT (See Breaking News) TP - Revenue-neutral related party payments do not justify transfer pricing adjustment where there is no tax arbitrage: ITAT (See Breaking News) I-T - Subscription-based access to journals, e-magazines or databases is not FTS, unless content is specifically rendered for user's individual requirements: ITAT (See Breaking News) I-T - Payments made to foreign telecom operators for data transmission services outside India are not royalty under DTAA so as to trigger withholding u/s 195: ITAT (See Breaking News) TP - Persistent losses in three successive assessment years is sufficient ground for exclusion of comparable: ITAT (See Breaking News) TP - Failure to first issue a draft assessment order renders final assessment order invalid & without jurisdiction: ITAT (See Breaking News) I-T - Once established that assessee had sufficient explained foreign income & remittances are duly sourced from such income, consequent investment in immovable property cannot be deemed unexplained merely because certain payments were not fully verifiable at assessment stage: ITAT (See Breaking News) DTAA - Payment made for offshore supply cannot be construed as FTS in absence of make available clause or no transfer of technology: ITAT (See Breaking News) TP - Capital contribution to wholly owned subsidiary cannot be re-characterized as loan in absence of debt-like features: ITAT (See Breaking News) I-T - Internal allocation of expenditure by one branch/head office to another branch of same enterprise cannot be disallowed u/s 40(a)(i) in absence of payment so as to trigger Sec 195: ITAT (See Breaking News) I-T - Non-obstante clause u/s 144C(13) does not exclude operation of Sec 153 as whole: ITAT (See Breaking News) Industrial dole-outs reach a new peak since global financial crisis: OECD (See TII Brief) I-T - Time limit prescribed u/s 153 has to be adhered to and both Section 144C and 153 are mutually inclusive and interdependent: ITAT (See Breaking News) I-T - Presence of notwithstanding clause in Section 144C(13) would not exclude operation of Section 153: ITAT (See Breaking News) I-T - Receipts from sale of Renewable Energy Certificates are capital receipts and are not taxable as revenue income: ITAT (See Breaking News) TP - Section 94B applies only when debt is from non-resident AE and no corresponding restriction exists for resident AE borrowings: ITAT (See Breaking News) TP - Functional dissimilarity, turnover filter, and abnormal profit calls for exclusion of comparable: ITAT (See Breaking News) TP - TPO cannot question commercial expediency once expenditure is shown to have been incurred for business purposes; assessee must nevertheless establish that services were indeed rendered: ITAT (See Breaking News) TP - Comparables selected in previous assessment years need to be included in current year as well, in identical facts & circumstances: ITAT (See Breaking News) TP - Adjustment on account of interest paid on NCDs cannot be made by ignoring internal CUP: ITAT (See Breaking News)
 
TII SEARCH
 
 
   
Home >> News Brief
 

IMF Urges Govts to Plan Fiscal Stimulus to Fight Covid Impact
By TII News Service
Mar 18, 2020 , Washington

    

By TII News Service

WASHINGTON, MARCH 18, 2020: INTERNATIONAL Monetary Fund (IMF) has urged governments to unveil fiscal stimulus under multi-pronged strategy to manage economic fall-out of Covid-19 pandemic.

In a policy paper (PP) captioned 'Policy Steps to Address the Corona Crisis', IMF observes: "Broad-based fiscal stimulus will help support aggregate demand. Options - including through boosting investment or economy-wide tax cuts - will depend on the evolving nature of the shock and the availability of fiscal space. Although the impact of broad stimulus may be small until the COVID-19 outbreak fades because of large supply disruptions, accelerating implementation of investment or other discretionary measures can prevent stimulus arriving too late".

PP adds: "The authorities may need to step in with additional support measures – in past crises, subsidies and tax relief aimed at smaller borrowers as well as credit guarantees and asset purchases programs to support banks have been the main vehicles, though capital injections and broad deposit guarantees have also been employed to restore confidence and stem systemic turbulence".

PP says that fiscal policy should urgently provide sizable support for affected people and firms during the pandemic. Depending on the evolving nature of the pandemic, additional fiscal stimulus may be necessary to prevent long-lasting economic damage.

It elaborates: "wage subsidies for businesses affected by shutdowns can help prevent cascading bankruptcies and massive layoffs that will have lasting effects for future recovery and negative impact on aggregate demand. Cash transfers to low-income households can support consumption and preserve minimum living standards ".

Noting that G20 countries' response has been timely, PP has pointed out that the response has so far remains lower than during the global financial crisis. It says: "Given the temporary nature of health epidemics, the current crisis is likely to be more short-lived. However, as the virus spreads across the globe, more needs to be done in 2020, and the case for a coordinated and synchronized global fiscal stimulus to enhance confidence is becoming stronger".

According to PP, monitoring, containing and mitigating the effects of the corona virus are top priorities. Timely and decisive actions by health authorities, central banks, fiscal, regulatory and supervisory authorities can help contain the virus outbreak and offset the economic impact of the pandemic. Central banks must support demand and confidence by preventing a tightening of financial conditions, lowering borrowing costs for households and firms, and ensuring market liquidity. Fiscal policy must step up to provide sizable support to the most affected people and firms, including in hard-to-reach informal sectors. Regulatory and supervisory responses must aim to preserve financial stability and banking system soundness while sustaining economic activity.
 
 
INTL TAXATION INTL MISC TP FDI LIBRARY VISA BIPA NRI TII
  • DTAA
  • Circulars (I-T Act, 1922)
  • Limited Treaties
  • Other Treaties
  • TIEAs
  • Notifications
  • Circulars
  • Relevant Sections of I-T Rules,1962
  • Instructions
  • Administrative Orders
  • DRP Panel
  • I-T Act, 1961
  • MLI
  • Relevant Portion of I-T Act,1922
  • GAAR
  • MAP
  • OECD Conventions
  • Draft Guidelines
  • DTC Bill
  • Committee Reports
  • FATCA
  • Intl-Taxation
  • Finance Acts
  • Manual on EoI
  • UN Model Taxation
  • Miscellaneous
  • Cost Inflation Index
  • Union Budget
  • Information Security Guidelines
  • APA Annual Report
  • APA Rules
  • Miscellaneous
  • Relevant Sections of Act
  • Instructions
  • Circulars
  • Notifications
  • Draft Notifications
  • Forms
  • TP Rules
  • APA FAQ
  • UN Manual on TP
  • Safe Harbour Rules
  • US Transfer Pricing
  • FEMA Act
  • Exchange Manual
  • Fema Notifications
  • Master Circulars
  • Press Notes
  • Rules
  • FDI Circulars
  • RBI Circulars
  • Reports
  • FDI Approved
  • RBI Other Notifications
  • FIPB Review
  • FEO Act
  • INTELLECTUAL PROPERTY
  • CBR Act
  • NBFC Report
  • Black Money Act
  • PMLA Instruction
  • PMLA Bill
  • FM Budget Speeches
  • Multimodal Transportation
  • Vienna Convention
  • EXIM Bank LoC
  • Manufacturing Policy
  • FTDR Act, 1992
  • White Paper on Black Money
  • Posting Policy
  • PMLA Cases
  • Transfer of Property
  • MCA Circular
  • Limitation Act
  • Type of Visa
  • SSAs
  • EPFO
  • Acts
  • FAQs
  • Rules
  • Guidelines
  • Tourist Visa
  • Notifications
  • Arbitration
  • Model Text
  • Agreements
  • Relevant Portion of I-T Act
  • I-T Rules, 1962
  • Circulars
  • MISC
  • Notification
  • About Us
  • Contact Us
  •  
     
    A Taxindiaonline Website. Copyright © 2010-2025 | Privacy Policy | Taxindiainternational.com Pvt. Ltd. OPC All rights reserved.