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20% Tax On International Credit Card Spends | Tax Compliance Or 'Tax Terror'? | Beyond The Headline
Posted
May 18, 2023
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36:34Now PlayingTmanna Inamdar will talk about Rackus over credit card tax in today's episode of Beyond the Headline. Tax evasion is a significant issue in our nation. The government is constantly working to narrow the taxivation loophole because just 6% of the population really pays taxes. However, a recent effort to end taxivation may have gone too far. According to a circular from the Reserve Bank of India, LRS (Liberelized Reminent Scheme) will now cover credit card purchases made outside of India.
A few panellists have agreed to join us. According to Ashwini Kakkar, Managing Partner of Indventure, "the new proposed TCS will completely destroy the travel industry."
#tax #creditcard #rbi #tamannainamdar #beyondtheheadline #mirrornow
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