Tuesday , February 10, 2026 |   17:28:22 IST
INTL TAXATION INTL MISC TP FDI LIBRARY VISA BIPA NRI
About Us Contact Us Newsletters
 
NEWS FLASH
 
OECD inflation stable at 3.7% in Dec month in 2025 (See Brief) TP - Mechanical exclusion of comparables by merely relying on coordinate bench decisions, without undertaking a proper FAR analysis or recording reasons on functional dissimilarity, is unsustainable: ITAT (See Breaking News) I-T - Notice for re-assessment u/s 148 for Assessment Year 2015-16, is invalid and barred by limitation if it was issued on or after April 1, 2021: ITAT (See Breaking News) TP - As per Sec 153(4), where reference u/s 92CA was made to TPO, then time limit stands extended by another 12 months: ITAT (See Breaking News) DTAA - Receipts from bandwidth services cannot be taxed as royalty as per section 9(1)(vi) or Article 12(3) of the India-Singapore DTAA: ITAT (See Breaking News) TP - If company's financials show predominantly software development service income and it satisfies all quantitative filters, denial of inclusion merely because it provides ancillary support services is not justified: ITAT (See Breaking News) TP - ALP for benchmarking electricity transactions should include gross rate charged by State Electricity Authority, which includes mandatory charges such as demand and penal charges: ITAT (See Breaking News) DTAA - Provisions of the DTAA are not triggered by DDT paid by a domestic company u/s 115-O: ITAT (See Breaking News) I-T - Proviso to Sec 149 provides that up to A.Y 2021-22 (period before amendment), period of limitation as prescribed in erstwhile provisions of Section 149(1)(b) would be applicable: ITAT (See Breaking News) I-T - Income from distribution of standardized software products by distributor, who does not own intellectual property, cannot be characterized as FTS: ITAT (See Breaking News) I-T - If international transactions between parties relating to non-exclusive distributorship and sale of software, were found to be at arm's length, no further attribution of profit can be made to PE: ITAT (See Breaking News) INTL - Interest paid u/s 201(1A) for delayed deposit of TDS is not compensatory in nature & does not qualify as allowable business expenditure u/s 37(1): ITAT (See Breaking News) INTL - Disallowance u/s 40(a)(i) sustainable where assessee paid a substantial sum to an international consultant, thereby creating an employer-employee relationship attracting TDS u/s 192: ITAT (See Breaking News) I-T - Procedure u/s 144C(1) has to be followed by Assessing Officer only if he proposes to make any variation which is prejudicial to interest of eligible assessee: 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.