Wednesday , February 1, 2023 |   21:19:52 IST
INTL TAXATION INTL MISC TP FDI LIBRARY VISA BIPA NRI
About Us Contact Us Newsletters
 
NEWS FLASH
 
Time limit for furnishing TP report reduced (See 'TII Brief') TDS u/s 196A - Tax Treaty benefits to be allowed (See 'TII Brief') FB proposes to omit double taxation on distribution of income to non-resident ODI holders (See 'TII Brief') Sec 44BB - Presumptive tax for non-resident - No set of brought forward loss to be allowed (See 'TII Brief') Deeming provision of Sec 9 extended to gift received by non-ordinarily resident (See 'TII Brief') Personal Income Tax - income slabs reduced to 5 Cigarettes - NCCD on specified cigarettes to be revised - 16% hike in prices Personal Income Tax - sops for middle class - those with income upto Rs 5 lakhs - rebate limit increased to Rs 7 lakhs in new tax regime Govt allows carry forward of losses on strategic disinvestment Salaried class and pensioners - standard deduction under new tax regime - Rs 52500/- standard deduction for income of Rs 15 lakhs Personal Income Tax - highest surcharge rate reduced to 25% in new tax regime Govt to focus on macro economic stability: FM New income tax regime to be default tax regime; citizens can nonetheless choose to avail new tax regime 3 Centres of Excellence for AI development to be set up 50 more airports, helipads to be revived for regional connectivity Union Budget 2023 - 50 destinations to be selected for promotion of tourism Govt to promote coastal shipping for cargo and passengers DTAA - payment made by assessee towards reimbursement of expenses, being salary cost of assigned employees & being subject to TDS u/s 192 of the Act, cannot be treated as Fees For Technical Service u/s 9(1)(vii) r/w Article 12 of India-Japan DTAA: ITAT (See 'Breaking News') I-T - It can't be held that assessee does not have business PE in India, if in case of its group company, it has been judicially held that the said non-resident entities have fixed place business PE in India: ITAT (See 'Breaking News') TP - for correct application of TNMM, it is necessary to select comparables which are functionally similar & engaged in similar line of business as that of assessee: ITAT (See 'Breaking News') TP - brand promotion cannot be treated as an international transaction; comparability adjustment using TNMM is invalid: ITAT (See 'Breaking News') TP - ALP determined after following recognized method of benchmarking and margin, need not be disturbed: ITAT (See 'Breaking News') I-T - If one income is to be taxed in hands of non-resident assessee u/s 5(2), then burden is on AO to show that such income is falling within definition of income chargeable to tax in his hands: ITAT (See 'Breaking News')
 
TII SEARCH
 
 
   
Home >> News Brief
 

OECD inflation rises to 10.7% in October month
By TII News Service
Dec 06, 2022 , Paris

    

YEAR-on-year inflation in the OECD as measured by the Consumer Price Index (CPI) rose to 10.7% in October 2022, from 10.5% in September (Figure 1). Similarly to the previous month, double-digit inflation was recorded in 18 out of 38 OECD countries, with the highest rates observed in Estonia, Hungary, Latvia, Lithuania and Türkiye (all above 20%).

Food inflation continued to rise in the OECD in October (to 16.1%, from 15.3% in September), reaching its highest rate since May 1974, with rises in 33 of 38 OECD countries. Energy inflation continued to fall in the OECD as a whole (to 28.1%, from 28.8%). Nevertheless, it remained above 10% in 35 OECD countries, and above 30% in 13 of them. Excluding food and energy, year-on-year inflation in the OECD was stable, at 7.6% in October.

Year-on-year inflation in the G7 rose slightly to 7.8% in October, from 7.7% in September.Among G7 economies,inflation continued to decrease in the United States, while it was stable in Canada and increased in the remaining countries. The greatest increase (by 3.0 percentage points) was recorded in Italy, reflecting a very strong rise in energy inflation. Food and energy inflation continued to be the main contributors to headline inflation in France, Germany, Italy and Japan, while inflation excluding food and energy was the main driver of inflation in Canada, the United Kingdom and the United States (Figure 2).

In the euro area, year-on-year inflation as measured by the Harmonised Index of Consumer Prices (HICP) rose to 10.6% in October, from 9.9% in September, with food price inflation, energy price inflation and inflation excluding food and energy all increasing in October. Eurostat’s flash estimate for the euro area in November 2022 points to a decrease in year-on-year inflation to 10.0%, with energy price inflation estimated to have fallen to 34.9% from 41.5% in October, while inflation excluding food and energy is estimated to have been stable (at 5.0%).

In the G20, year-on-year inflation was stable at 9.5% in October. Outside the OECD, year-on-year inflation rose in Argentina, but decreased in China, Brazil, India and Indonesia, while remaining broadly stable in Saudi Arabia and South Africa.

 
 
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 © 2010-2023 | Privacy Policy | Taxindiainternational.com Pvt. Ltd. OPC All rights reserved.