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Arun Jaitley defends surcharge levy, says rich must pay more

Arun Jaitley defends surcharge levy, says rich must pay more

Finance Minister Arun Jaitley Friday justified levy of 10 percent surcharge on rich saying the resources in a largely non-tax compliant society will have to come from the more affluent.

US sets capital surcharges for largest 8 banks

The US Federal Reserve set Monday tough new capital surcharges for the country's eight largest banks in a new post-economic crisis effort to reel in "too-big-to-fail" institutions.

Economic Survey 2013-14: Bad taxes like cess, surcharge need to go

Referring to the Goods and Services Tax, the survey said there is consensus that the GST will be a major milestone for indirect tax reform in India.

Economists for lowering of interest rate, removal of cess

Economists Tuesday asked Finance Minister Arun Jaitley to lower interest rate, rationalise subsidies, remove all cess and surcharge, do away with the retrospective tax amendments and scrap dividend distribution tax to revive investment cycle and promote growth.