The most obvious argument against the proposal is simply that uniform taxation is better than selective tax exemptions. If a lower capital gains tax rate is preferable, then the goal should be to make a smaller cut that applies to all assets. Exempting a single kind of asset is likely to lead to abuses. You might think that boosting crypto is important now, but which sector or asset will be selected next for special treatment? It may be one you don't think deserves it.
Many of the leading supporters of Trump's campaign were crypto-connected companies. You don't have to think this tax proposal is some kind of payback to realise that this creates problems of perception. Next time around, companies will offer campaigns financial support in the expectation of more favourable tax and regulatory treatment.
This story is from the December 10, 2024 edition of Financial Express Delhi.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the December 10, 2024 edition of Financial Express Delhi.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
White-collar hiring up 9% in December
AI/ML, OIL & GAS, FMCG MAJOR GROWTH DRIVERS
Manu, Gukesh Among 4 to Be Awarded Khel Ratna
DOUBLE OLYMPIC-MEDAL-LIST Manu Bhaker and chess world champion D Gukesh were among four winners of the Major Dhyan Chand Khel Ratna award announced by the Sports Ministry, which also named an unprecedented 17 para-athletes in the list of 32 Arjuna awardees to honour their resounding success at the Paris Paralympics.
Captain Rohit to miss Sydney Test, 'opts to rest'
THE EARLY HINT of India captain Rohit Sharma sitting out of the final Test of the Border-Gavaskar Trophy at Sydney came from head coach Gautam Gambhir.
Climate Change Mitigation Needs Funding
At the fourth edition of the IE Thinc: CITIES series, presented by The Indian Express with Omidyar Network India and moderated by Amitabh Sinha, Editor (Climate and Science), panellists discussed how municipal bodies can leverage capital markets to solve climate-related problems
Norms for capex release...
THE BALANCE OF ₹55,000 crore is untied advances to states for projects identified by the states.
Indices soar nearly 2%
EQUITY INDICES OF China, Hong Kong, and Thailand declined by up to 2.66%, while Indonesia (up 1.18%), Australia (up 0.53%), and Singapore (up 0.35%) ended with gains.
When Big Idea Met Big Tech
AI IN ADVERTISING
Rein in tax terrorism
WE NEED A TRANSPARENT SYSTEM THAT CURBS LITIGATION AND A QUICK RESOLUTION PROCESS
A 'Made in China' crisis awaits big auto
When Jaguar's \"COPY nothing\" brand reboot hit late last year, one self-styled car enthusiast replied on X: \"What the actual hell is this?\" Jaguar's response: \"The future.\" That remains to be seen. But the ad, unfamiliar and unsettling, does at least work as a portent of what's coming for the global auto industry.
H-1B Visa Flip-Flop
Trump must convince hardliners that giving US access to the world's best and brightest is essential to its future
