In response to new US subsidies intended to boost local manufacture of electric cars (EVs), Chinese automakers are turning to Morocco. Chinese companies have made significant investments in this North African nation in an effort to benefit from the $7,500 credit offered to US automobile buyers. These investments are concentrated in Morocco because of its…
Payrollers are anticipating the release of the FY25 Budget by Finance Minister Nirmala Sitharaman with great anticipation, as they hope significant tax reforms will alleviate financial burdens. According to a Deloitte report, the salaried class is advocating for a reorganization of tax slabs, incentives for purchasing electric vehicles (EVs), adjustments to housing rent allowance (HRA) rates, and a greater emphasis on affordable housing. Calls for Tax Regime Parity The recently introduced personal tax system underwent revisions with the introduction of the Budget 2023. Specifically, the basic exemption threshold was raised from Rs 2.5 lakh to Rs 3 lakh, while the surcharge on revenues beyond Rs 5 crore was reduced from 37% to 25%. These changes were…
