The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
Infosys wins relief as DGGI dismisses 32403 crore GST notice
Infosys has received a significant relief as the Directorate General of Goods and Services Tax Intelligence (DGGI) has closed a GST notice amounting to ₹32,403 crore. This development marks a crucial turning point for the company in its ongoing regulatory challenges.
delhi high court rules aws payments not taxable as royalty or fees
The Delhi High Court ruled that payments made by Indian entities to Amazon Web Services for cloud computing services are not subject to taxation as royalties or technical fees. The court dismissed the income tax department's petition, affirming that such services cannot be taxed under the Income Tax Act or the India-US tax treaty.
Patanjali Ayurved under investigation for suspicious financial transactions and regulatory issues
Patanjali Ayurved is under investigation by the Ministry of Corporate Affairs for suspicious financial transactions flagged as potentially irregular by economic intelligence agencies. The company has two months to respond to the notice, amid ongoing regulatory challenges including tax violations and misleading advertising claims. Ramdev and Patanjali face multiple legal cases related to these issues, impacting the shares of its listed subsidiary, Patanjali Foods Ltd, which have dropped nearly 10% this month.
delhi high court rules cloud payments to aws are not taxable royalties
The Delhi High Court ruled that payments made by Indian companies to AWS for cloud services are not taxable as royalties. Customers receive a non-exclusive, non-transferable license to access these services, which does not meet the criteria for "royalty" under the India-US DTAA. This decision is a significant development in the taxation of foreign cloud service payments.
US Threatens Apple with Tariffs Amid Production Shift Concerns
The US is imposing a significant tariff on Apple, threatening a 25% duty if the company does not manufacture iPhones domestically. This follows ongoing scrutiny of Huawei and aims to secure the chip supply chain while potentially raising iPhone prices and exacerbating Apple's sales decline in China. Following President Trump's warning, Apple shares dropped by 3%.
Federal Government Appeals Court Ruling on Credit Suisse Executive Bonuses
The Federal Department of Finance is appealing a Federal Administrative Court ruling that deemed the cancellation of bonuses for former Credit Suisse executives unlawful. The FDF argues that the court did not consider the extraordinary circumstances surrounding the UBS takeover, which were unforeseen by lawmakers. The case will now be decided by the Federal Supreme Court.
credit suisse fined 510 million for tax evasion of us clients
Credit Suisse Services AG has pleaded guilty to conspiring to hide over $4 billion from the US IRS through at least 475 offshore accounts, facilitating tax evasion for US individuals. This tax fraud spanned more than a decade, from January 2010 to July 2021, with a separate incident involving Singapore accounts continuing until June 2023. The bank, now owned by UBS, faces a $510 million fine following a lengthy investigation by US law enforcement.
senator calls for prosecution after credit suisse tax evasion settlement
Oregon Senator Ron Wyden is urging federal prosecution following Credit Suisse's $511 million settlement in a tax evasion case. The Senate Finance Committee's 2023 investigation revealed that the bank allegedly concealed over $700 million offshore for Americans to evade taxes. Wyden asserts that the settlement validates the investigation's findings and is calling for accountability from the Trump Administration.
credit suisse fined 510 million for conspiring to hide us tax assets
Credit Suisse Services AG has pleaded guilty to conspiring to hide over $4 billion from the IRS through at least 475 offshore accounts, resulting in a $510 million penalty. The bank aided U.S. customers in evading tax obligations by maintaining undeclared accounts and falsifying records. Following a merger with UBS AG, the latter discovered and froze some undeclared U.S. accounts, agreeing to cooperate with ongoing investigations.
credit suisse faces us justice department scrutiny for tax evasion scheme
The US Department of Justice has charged Credit Suisse for tax evasion related to over USD 2 billion in undeclared accounts held by US taxpayers at its Singapore branch from 2014 to 2023. This action highlights ongoing concerns regarding financial institutions' compliance with tax regulations.
Seems like the connection with the server has been lost. It can be due to poor or broken network. Please hang on while we're trying to reconnect...
Oh snap! Failed to reconnect with the server. This is typically caused by a longer network outage, or if the server has been taken down. You can try to reconnect, but if that does not work, you need to reload the page.
Oh man! The server rejected the attempt to reconnect. The only option now is to reload the page, but be prepared that it won't work, since this is typically caused by a failure on the server.