With only over a month to go for the budget 2015, IT bigwigs including Vishal Sikka of Infosys, Suresh Senapathy of Wipro, Anil Chanana of HCL, R Chadrasekaran, president Nasscom met the Finance Minister today to present the demands of the IT sector.

Speaking to the press later, Sikka said they had conveyed their point of view regarding efficiency and ease of doing business in India.

The industry also put forth their suggestion on double taxation issue. He said there are some issues like double taxation and trading software products like physical goods etc which were spoken about.

On the e-commerce front, he said there is a lot that can be done to improve the ability to get digital data centre infrastructure in India.

Sikka said he would love to see start-ups flourish in India.

Australia To Reform Employee Share Scheme Taxation by Mary Swire, Tax-News.com, Hong Kong 14 January 2015

The Australian Government is consulting on draft legislation to improve tax arrangements for Employee Share Schemes (ESS).

The reforms are being introduced as part of the Coalition Governments broader Industry Innovation and Competitiveness Agenda. According to Small Business Minister Bruce Billson, The way weve done business in the past around ESS is not conducive to the commercialization of great Australian ideas.

The proposals would reverse some of the changes made in 2009 by the Labor administration, which affect the point at which rights issued as part of an ESS are taxed. Under Labors rules, options are taxed when they are provided to an employee. The Coalition Government intends for the tax point to occur when there is an actual material value to be derived from the options.

The Government also proposes the introduction of a further tax concession for employees of certain small start-up firms. Eligible companies would be able to issue shares or options to their employees at a small discount. This discount would generally be exempt from up-front taxation.

Last, the reforms would allow the Australian Taxation Office (ATO) to work with industry representatives to develop safe harbor valuation methods, which would be supported by standardized documentation. This should streamline the process of establishing and maintaining an ESS.

Billson said: We have designed these changes to increase the international competitiveness of our tax system and allow innovative Australian firms to attract and retain high-quality employees in the globally competitive labor market. We have listened to enterprising Australians during extensive consultations, and we have heard time and time again that the current taxation regime for Employee Share Schemes is uncompetitive and unattractive.

The consultation closes on February 6.

At the beginning of each New Year, experts give their predictions about the economy, politics, weather, and a host of other topics. Will there be war or peace? Poverty or prosperity? Progress or stagnation? People everywhere are hoping that this year will be better than last, but no one knows what will happen.

As Michiganders, we can be sure our future will grow more perilous with heavier taxation (gross per capita income has plummeted 68 percent under Snyders failed policies [he has/will add $3.5 billion in new taxes/fees] and working families are flocking out of the state at alarming rates), more personal intrusions by our state government, fewer social and medical services for those in need, degradation of our environment (state lands being drilled and fracked), and more corruption on the political and corporate levels.

In the Bible, Paul told Timothy, In the last days perilous times will come; ... evil men and impostors will grow worse and worse, deceiving and being deceived. People will be selfish, greedy, boastful, and conceited; they will be insulting, liars, irreligious; they will be unkind, merciless, slanderers, violent, and fierce; they will hate the good; they will be treacherous, reckless, and swollen with pride; they will love pleasure rather than God; they will hold to the outward form of religion, but reject its real power. Keep away from such people.

Therefore, our world will be getting darker -- on one hand -- yet as the spiritual darkness of our world grows deeper, a greater burden (opportunity) will be placed upon the local churches and people of faith to rise against the injustices.

Do you have the power, the courage -- the backbone?

William Courliss

Union City

ISLAMABAD - The Pakistan Economy Watch (PEW) on Tuesday said that tobacco related deaths can be reduced through enhanced taxation on the cigarette industry. Tobacco in any form is extremely harmful, it kills around 500 people daily in Pakistan damaging households and economy, said PEW President Dr Murtaza Mughal.

Speaking at a function after bring nominated as general secretary of the Pakistan National Heart Association (PANAH), he said that over 25 million Pakistani are smokers harming themselves, co-workers and family members. Dr Murtaza said that a World Health Organisation reports says that by 2030, mortality from smoking-related disease is expected to rise to 10 million with over 70 per cent of these deaths will be in developing countries.

Around twelve hundred youths and start smoking in Pakistan everyday continue it for the rest of their lives as a result of tobacco advertisements and promotion. Dr Murtaza said that government should ban tobacco ads, enforce anti-smoking laws properly and slap 100 per cent additional tax on cigarette manufacturers. Earlier, members of PANAH said that that they want a socially active person like Dr Murtaza to serve masses through this platform.