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Sales Tax Increase Would Kill Retail Jobs and Deal Serious Setback to Michigan's Recovery
A general sales tax increase to fund road repairs would be devastating to Michigan's retail industry and deliver a serious blow to the state's economic recovery, Michigan Retailers Association (MRA) President and CEO James P. Hallan said today.

ADB not satisfied with utilisation of 'available' funds in Pakistan
The Asian Development Bank (ADB) has raised concern that despite being available, funds are not being spent properly on developmental projects in Pakistan.

Pak's secret deal with IMF will fool masses by camouflaging controversial tax
The Pakistan government has reached a secret understanding with the International Monetary Fund, under which the Reformed General Sales Tax will be imposed in the next fiscal budget, but will not be named as RGST or VAT because the government may not be able to get the relevant financial legislation passed through the National Assembly.

Pak not to introduce Reformed General Sales Tax
The International Monetary Fund (IMF) has agreed with Pakistan to give relaxation on the much-debated and much-controversial Reformed General Sales Tax (RGST), as Islamabad assured the international donor that it would bring Plan-B which would generate more revenue than the RGST in the coming budget 2011-12.

Pakistan fails to convince IMF to release final tranche of $11.3bn loan
The Pakistani delegation to the International Monetary Fund-World Bank spring meetings is set to return home without any agreement on the release of the final tranche of an 11.3-billion-dollar loan package to the country.

Economic crisis-hit Pakistan to seek second IMF loan to pay off first
Pakistan has decided in principle to seek another International Monetary Fund (IMF) programme to return its previous loan taken from the same organisation, according to sources.

IMF unveils wish-list for economic crisis-hit Pakistan
The International Monetary Fund (IMF) has expressed its concerns over rising debt, higher government borrowing and quasi-fiscal operations (subsidies) in Pakistan, and unveiled a 'wish-list' that Pakistani authorities must adhered to during the remaining period of the current fiscal year.

Pak Govt mulling presidential ordinance to impose new taxes
The Pakistan Government is considering imposing new taxes- 15 per cent flood income tax surcharge and 2.5 per cent special excise duty- through a presidential ordinance, as it expects stiff opposition from political parties in parliament in this regard.

IMF warns Pak Govt. to enforce tax reforms or lose much-needed funds
The International Monetary Fund (IMF) has categorically warned the Pakistan Government to enforce the controversial Reformed General Sales Tax (RGST), or the financial crisis-hit country will not get any funds.

Budget aimed at encouraging voluntary compliance: Revenue Secretary
Revenue Secretary Sunil Mitra on Thursday said that the main aim of the budget proposals for 2011-12 was to broaden the tax base, moderate tax burden and ensure voluntary compliance.

CII welcomes inclusive growth oriented Budget 2011-12
The Confederation of Indian Industry (CII) on Monday welcomed the budget proposals for 2011-12 presented in Parliament by Union Finance Minister Pranab Mukherjee.

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