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SMUGGLING IMPACT OF HIGH TAXES
World's highest-consuming 10 pc causing environmental damage of up to USD 5.7 trn annually: StudyThe world's top consumers, mainly in the US and EU, cause trillions in environmental damage annually. Biodiversity loss and climate change ...- Banking liquidity falls to fiscal-year low, pushes up money market ratesMoney market rates have risen as banking system liquidity dropped to its lowest this fiscal year. Advanced tax outflows caused this liquidi...
- Despite West Asia crisis, net direct tax mopup grows 15% to Rs 5.2 lakh croreIndia's direct tax collections have seen a significant rise of over 14 percent. This growth is driven by strong advance tax payments from c...
- Scientists just trained AI to spot hidden seahorses, shark fins, and sea cucumbers in airport X-ray scans, and the 86% to 96% detection rates could give customs officers a new way to catch marine wildlife smugglersWildlife traffickers hide marine species in luggage. Australian scientists created an AI system using 3D X-ray scans to find seahorses, sha...
- Hi(gh) Gasoline! US retail sales in May rise on auto powerAmerican shoppers spent more in May than anticipated. This boost came from tax refunds and a stock market rise. However, this spending has ...
- Five reforms India needs before the next shockIndia faces economic vulnerabilities from external crises. Five reforms are proposed to build resilience. These include reducing gold and c...
- As oil roundtrips, AI booms, and US consumers spend, economists' Fed outlooks hit the extremesEconomists are divided on the U.S. economic outlook, with some predicting rate cuts due to consumer weakness and falling real wages, while ...
- New tax regime: 7 ways for salaried employees to reduce their tax liability while filing ITR for FY 2025-26Salaried individuals can still reduce their tax liability under the new tax regime for FY 2025-26. Key deductions include employer contribu...
- How Brexit is estimated to have hit the UK economyBritain's economy shows weak growth since leaving the European Union. Various researchers estimate significant losses in GDP, productivity,...
- Stuck in acres of mediocre: External shocks expose India's slide into middle-income stagnationIndia's economy is experiencing a slowdown. High growth and low inflation mask underlying issues of weak demand and poor productivity. This...
- The US is using an Iranian smuggling tactic to sneak oil out of the GulfThe US military is secretly guiding oil tankers through the Gulf of Oman. This operation uses drones and helicopters to facilitate ship-to-...
- India’s gold hunger stays unshaken as higher duties fail to close the import floodgatesIndia's insatiable thirst for gold remains resilient even in the face of increased import duties. Prior to the tax increase, there was a no...
- The U.S. is using an Iranian smuggling tactic to sneak oil out of the GulfAmerica's military is secretly guiding oil tankers in the Gulf of Oman. This operation uses drones and helicopters to help ships transfer o...
- Trump threatens 100% tariff on French wine over digital tax, says will have 'no choice'US President Donald Trump has issued a stern warning to France. He threatens to impose 100% tariffs on all French wines and champagne. This...
- Model arrested at Mumbai airport with ganja worth ₹11.82 crore arriving from ThailandMumbai Customs officials apprehended a model at Chhatrapati Shivaji Maharaj International Airport. She arrived from Thailand and was found ...
- Ahmedabad customs recover smuggled gold worth over Rs 4 crore from flight arriving from DubaiAhmedabad customs officials intercepted a significant gold haul. The precious metal was discovered concealed within a speaker box on IndiGo...
- Trump says US military strike killed leader of Venezuela's Tren de Aragua gangU.S. forces, under President Trump's direction, conducted a lethal strike killing Hector Rusthenford Guerrero Flores, known as Nino Guerrer...
- Philip Morris India calls for stronger enforcement and collaboration to disrupt illicit tobacco ecosystemAs per the Tobacco Institute of India (TII), in India, illicit cigarettes represent nearly one-fourth of the domestic market, with estimate...
- India's gold tariff hike fuels smuggling revival, squeezes banks and refinersIndia's decision to raise gold import duties to 15% is triggering a fresh surge in smuggling, as illegal operators exploit a widening price...
- Smugglers are hard at work as higher duty puts the shine on goldThe recent spike in import duties in India has inadvertently fueled a rise in gold smuggling activities. Traders are noting a marked increa...
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