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Tax havens - a big challenge
Experts estimate annual global revenue loss of $200b as result of abuse of tax havens
Salaried class contributed Rs69.4 billion or 7.8% of the total income tax collection in the first half, which was higher by 20% when compared with the same period of last year. PHOTO: FILE
ISLAMABAD:
The Panama Papers, Luxembourg Leaks and Paradise Leaks clearly reveal how tax evasion and money laundering are being carried out on a massive scale through tax havens across the globe.
The ill-gotten and tax-evaded money channeled/ laundered through tax havens has become a global issue for the developing and the developed economies alike.
Early financial education for the benefit of youth 14 Mar 2021 / 22:43 H.
EVER since the pandemic has taken a toll on the world economy, talks about financial literacy have been going around more frequently, given the challenging situation involving livelihoods and the critical need for people to have sufficient savings to survive rainy days. This particularly points at youths, who have become more vulnerable economically, and more concerning is their low level of financial literacy. Hence, this calls for practical action plan, and it needs to start from the core foundation of the society – education.
A study conducted by the Organisation of Economic Cooperation and Development (OECD) on 26 countries, including Malaysia, has shown that overall, financial literacy is already at its low. Specifically, youth aged 18 to 29, financial literacy appears to be at a lower level, on the back of poor financial knowledge and less prudent financial behaviour.
WASHINGTON, March 12 US President Joe Biden’s stimulus programme is being hailed as both boosting domestic growth and spurring the global recovery, but the IMF warned that policymakers will need to be alert to risks posed by the massive spending as well as low interest rates. The package,.
US stimulus offers significant boost to global economy: IMF | Bangladesh Sangbad Sangstha (BSS) bssnews.net - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bssnews.net Daily Mail and Mail on Sunday newspapers.