News Update

GST - Govt notifies fresh tax rates for GTA + renting of motor cab + jobwork of printing of newspapers & journals + composite supply of works contract to Govt agencies + exempts services provided by and to FIFA + services by Fair Price Shop + Crop Insurance Schemes + LLP to be construed as Partnership firm + services of plumbing & house-keeping through e-commerce platforms liable to registrationNITI Aayog To Launch 'Mentor India' CampaignFM reviews macro economic stability of economyMoS, PMO calls for 'Make in India' health moduleI-T - Whether Explanation to Sec 37(1) gets attracted even if there is no specific material to suggest participation of assessee in alleged kickbacks - NO: HCTreading the GST Path XXX What is "cab"?Apex Court rules Triple Talaq is unconstitutionalTrump warns Pakistan against providing shelter to terror groupsITC claim on Railway Receipt in lieu of Tax InvoiceComposite and mixed supply under GST - Golmaal ReturnsHM launches Digital Police Portal; FIRs can now be filed online in 34 States & UTsI-T - Contributions to provident fund not recognized as valid deduction u/s 80C(2)(vi), is deemed as short-deductions u/s 192 and hence taxable as 'Income from other sources' : ITATIndia's exclusive rights to explore polymetallic nodules from seabed extendedCX - Being busy with procedural requirement under GST is no ground to grant adjournment: CESTATChennai Airport Customs seizes gold worth Rs 4.6 Crore; One person arrestedGovt appoints CISF ADG Dharmendra Kumar as DG of Railway Protection ForceGlobal Forum releases compliance ratings for 10 tax jurisdictions (See 'Brief' in 'TII')PM for soil testing by hand-held devices; calls for involving startupsST - Warehouses are specifically covered under term Railways and they need not necessarily belong to railways - no tax liability on construction of warehouse for CWC in railway premises: CESTATTourism earns about Rs 15000 Cr in July monthPM congratulates OPS being sworn as TN Dy CM; to be Finance Minister alsoI-T - Whether even if assessee returns no exempt income in a particular AY, disallowance of certain expenditure incurred to earn such exempt income is warranted u/s 14 rw Rule 8D - NO: HCImport policy of Urad / Moong dal is revised from 'free' to ‘restricted’CX - When Tribunal decides that goods are exempted under notf. 50/2003, it would have direct impact on rate of duty, therefore, appeal would lie before SC: HCI-T - Remuneration paid to Artist for loss of business occasioned by virtue of non-compete agreement, is revenue receipt, if she is allowed to work elsewhere subject to payment of 5% of her earnings: HCPower Minister calls for 3Ds approach - De-carbonisation, decentralisation & digitalisationMAT Report - CBDT notifies New Form 29B with exhaustive AnnexureWhether the Government has allowed Tax payable under reverse charge to be paid through ITC? (See 'TOG Insight' in Taxongo.com)Domestic Airlines carried 657 lakhs pax between Jan to July, 2017 - A growth of 17% in trafficInter-state supply-who is liable to pay IGST?Rosneft, Russian energy giant, wraps up deal to buy 49% stake in Essar OilStreet Lighting Scheme illuminates 50,000 km of roadsI-T - Whether if a conditional grant comes from abroad, a foreign country is to be construed as a person or authority as per Explanation 10 to Section 43(1) - NO: ITAT
 
Time to arrest decline in public investment: OECD Report

By TIOL News Service

PARIS, JULY 14, 2017: THE OECD has called for correcting the steady decline in public investment since 2009 as government have responded differently to new demands on them with many raising spending on social services, trimming public sector employment and most stabilising day-to-day running costs at a lower level.

The report also looks at the pay of public agents like police, immigration officers and tax inspectors. It finds that police officers on central government payroll earn an average of USD 64,795 (at purchasing power parity) while police inspectors earn USD 81,952. Adjusted for differences in gross domestic product (GDP) per capita, police officers earn the most in Greece, Spain and Portugal.

The report further made findings that Denmark, Norway and Sweden have the highest levels of government employment, at nearly 30% of total employment. Asian countries rely less on public sector staff with government jobs making up only 6% of employment in Japan and 7.6% in Korea. Central government revenues in the OECD area were 72.5% financed by taxes in 2015 (from 47.6% in Norway to 91% in Belgium), 16.1% by social contributions (the highest being the US at 33.7%), and the rest by asset sales, grants and other revenues.

The most decentralised OECD countries are Switzerland, with over 90% of government staff working at the sub-central level, then Canada and Japan. The most centralised are Turkey and Ireland with around 90% employed at the central level of government. Ten countries (Canada, Greece, Ireland, Italy, Latvia, Luxembourg, Sweden, Switzerland, Mexico and the UK) say spending reviews helped them meet 90% or more of their fiscal objectives but nine could not assess their success. The share of OECD citizens voicing confidence in their governments fell to 42% in 2016 from 45% in 2007 (2016 Gallup World Poll).

Women make up 53% of judges in OECD countries but only 29% of parliamentarians and 28% of ministers. Canada, France, Slovenia and Sweden have gender parity in cabinet posts as of 2017, but women hold only one post in Turkey and zero in Hungary. The use of digital government services has tripled in OECD countries since 2006, with around 36% of OECD citizens submitting forms via public authorities' websites in 2016.

The fifth edition of the OECD's biennial comparison of public sector performance in major economies, finds the biggest share of public investment (a third) goes into economic areas like transportation and energy. The next biggest share (15%) goes on defence. Restoring public investment in areas like infrastructure, technology, green energy and education should have a positive impact on future employment and healthcare.

Considering the findings made by the Government at a Glance 2017, it can be said that before crisis, the government had spended around 40.9% of GDP in OECD countries in 2015, up from 38.8% in 2007. The number of government jobs as a share of total employment remained little changed at 18.1% in 2015 versus 17.9% in 2007, although some countries have reported workforce reductions.


POST YOUR COMMENTS