Friday , December 5, 2025 |   07:05:14 IST
INTL TAXATION INTL MISC TP FDI LIBRARY VISA BIPA NRI
About Us Contact Us Newsletters
 
NEWS FLASH
 
TP - Depreciation on goodwill & amortisation of non-compete fees is to be excluded by treating it as non-operating cost, being extraordinary item for purpose of determination of ALP: ITAT (See Breaking News) TP - If DRP issued directions, TPO has no power to resume jurisdiction and he can only pass effect order which in no case extends time limit for passing Final Assessment Order available to AO in terms of Sec 144C(13): ITAT (See Breaking News) I-T - Amounts received by assessee for use of transponder of tele-communication service charges are not royalty: ITAT (See Breaking News) I-T - Gains derived by Singapore-resident seller from sale of shares of Singapore-resident company are taxable only in Singapore, even if shares derive substantial value from Indian assets: ITAT (See Breaking News) DTAA - Payments received by non-resident assessee for licensing standard software & connected incidental services to Indian customer is not royalty, taxable in India u/s 9(1)(vi) or Article 12 of India-Ireland DTAA: ITAT (See Breaking News) TP - Working capital adjustments are attempt to arrive at adjusted comparables as basis of determining their profit level indicators or comparable uncontrolled prices: ITAT (See Breaking News) TP - If loan given to AE was non-performing asset, no adjustment can be made for notional interest if there is no possibility of recovering either interest or principal: ITAT (See Breaking News) I-T - Once certain transaction is accepted at arm's length by TPO in earlier & later AYs, under an agreement unchanged for more than a decade, then absence of TPO reference in current AY cannot prejudice assessee: ITAT (See Breaking News) I-T -Payments received for distribution, sale, or exhibition of cinematographic films fall within exclusion in Explanation 2(v) to section 9(1)(vi); is excluded from 'royalty' under Article 12 of India–USA DTAA: ITAT (See Breaking News) Shadow of Litigation on GAAR thus far (See 'TII Edit') Ageing population to strain European pension systems: OECD (See Brief) DTAA - Delivery Order Charges are directly connected to transportation of goods; fall within scope of Article 8 of India-Turkey DTAA - such charges not taxable in India, as are collected after transportation at point when goods handed over to consignee: ITAT (See Breaking News) African GDP may double if USD 155 bn pumped into infra sector: OECD (See Brief) INTL - CSR contributions, though not allowable as business expenditure u/s 37(1), qualify for deduction u/s 80G if the prescribed conditions are fulfilled: ITAT (See Breaking News) TP - Ttransaction between assessee and AE is in foreign currency with regard to receivables, then transaction would have to be looked upon by applying commercial principles with regard to international transactions - YES: ITAT (See Breaking News) TP - If CCDs issued are in nature of debt, then interest paid on same should be benchmarked as per applicable transfer pricing provision after applying most appropriate method considering availability of data: ITAT (See Breaking News) Illicit trade in tobacco results in revenue loss of over USD 47 billion: WHO (See Brief) TP - Capital financing between two AE should be benchmarked as loan transaction for noticeably brief period between two related parties where there is minimum risk: ITAT (See Breaking News) TP - Each international transaction must be separately evaluated u/s 92C; acceptance of benchmarking for basic market-research services does not automatically cover infrastructure service fees & reimbursements: 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.