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 Lucknow.
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 Lucknow.
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
A middle-class meltdown
Economic shift, stagnating real income post Covid weigh on spending on daily items
Shyam Benegal cremated with full state honours
Veteran filmmaker Shyam Benegal, a pioneer of India’s parallel cinema movement, was cremated with full state honors on Tuesday.
Champions Trophy: India to play Pakistan on Feb 23
INDIA WILL PLAY all their matches of the Champions Trophy in Dubai with the marquee clash against arch-rivals Pakistan scheduled on February 23, the International Cricket Council (ICC) announced on Tuesday.
Net gains: Secured Virat, cautious Rohit gear up
INDIA GOT A chance to bat in the nets on fresher pitches on Tuesday, their last day of training as Christmas day is a rest day for them.
Local satellites push draws 30 aspirants
The applicants for INSPACe's latest effort in this regard include startups such as Google-backed Pixxel and Baring Private Equity-backed SatSure, as well as larger entities like Tata Group's Tata Advanced Systems.
₹2-cr fine on Deloitte Haskins for Zee audit
In September 2018, the chairman of ZEEL, who is also the promoter of Essel Group of Companies, issued a letter to Yes Bank, and committed ₹200 crore of fixed deposit (FD) of ZEEL as a guarantee for the loans given by the bank to group company Essel Green Mobility.
Labour-intensive exports: Gains likely to be short-lived
India's textile export growth is likely to be short-lived despite a recent surge, driven by factors such as a volatile rupee and instability in neighboring Bangladesh. While this presents opportunities, long-term gains require competitiveness and product diversification.
Economists for FTAs, land & labour reforms
RCEP was signed by the group of countries in November 2020 except India.
Uniting for greater good
COLLABORATIVE PHILANTHROPY IS not a new idea. History has many examples of communities coming together for the common good.
EAM in US to boost bilateral ties
IN WHAT IS expected to be the first high-level contact between the incoming Trump 2.0 administration and the Indian government in its third term, external affairs Minister S Jaishankar is likely to meet the new Trump team in the US.
