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Infrastructure Finance Secretariat, DEA organises workshop to sensitise empaneled Transaction Advisers (TAs) for Public Private Partnership (PPP) Projects

Ministry of Finance

azadi ka amrit mahotsav

Infrastructure Finance Secretariat, DEA organises workshop to sensitise empaneled Transaction Advisers (TAs) for Public Private Partnership (PPP) Projects

Posted On: 03 AUG 2022 6:55PM by PIB Delhi

The Infrastructure Finance Secretariat in the Department of Economic Affairs (DEA), Ministry of Finance today organised a workshop to sensitize the empaneled transaction advisers for PPP projects which was attended by representatives of 12 empaneled Transaction Advisers (TAs) for Public Private Partnership (PPP) Projects.

The empanelment of TAs aims to provide quality advisory support to Project Sponsoring Authorities (PSAs) in transaction of PPP projects. The empanelment will help to make the process of appointment of transaction advisors/consultant seamless and efficient.

During the workshop, the Transaction Advisers were sensitized with the manual developed by the DEA for the use of the panel which is a step by step guide that can be referred by the PSAs to on-board a transaction adviser for structuring their PPP projects. The manual details out the steps for establishing project requirements; defining objectives of the assignment, developing terms of reference for the assignment, defining eligibility criteria, identifying key personnel for executing the project, publishing RfP etc. The PSAs can use the pre-defined templates and criteria’s for selecting the TAs or can tweak the same as per the requirement specific to the project.  

The Transaction Advisers were also sensitized regarding DEA schemes for financial support to PPPs which inter alia include Viability Gap Funding (VGF) Scheme to support economically justified but commercially unviable projects, and the India Infrastructure Project Development Fund (IIPDF) to fund PPP project development expenses including costs of engaging TAs. Further, TAs were also informed about PPP project appraisal mechanisms at the DEA.

The TAs were sensitized about their support required in areas of awareness creation of DEA schemes, providing desired levels of handholding support in document preparation, data sharing and other interventions required to bridge the gap between the stakeholders involved in PPP projects.

****

RM/MV/KMN

(Release ID: 1848023) Visitor Counter : 381




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Infrastructure Finance Secretariat, DEA organises workshop to sensitise empaneled Transaction Advisers (TAs) for Public Private Partnership (PPP) Projects

Ministry of Finance

azadi ka amrit mahotsav

Infrastructure Finance Secretariat, DEA organises workshop to sensitise empaneled Transaction Advisers (TAs) for Public Private Partnership (PPP) Projects

Posted On: 03 AUG 2022 6:55PM by PIB Delhi

The Infrastructure Finance Secretariat in the Department of Economic Affairs (DEA), Ministry of Finance today organised a workshop to sensitize the empaneled transaction advisers for PPP projects which was attended by representatives of 12 empaneled Transaction Advisers (TAs) for Public Private Partnership (PPP) Projects.

The empanelment of TAs aims to provide quality advisory support to Project Sponsoring Authorities (PSAs) in transaction of PPP projects. The empanelment will help to make the process of appointment of transaction advisors/consultant seamless and efficient.

During the workshop, the Transaction Advisers were sensitized with the manual developed by the DEA for the use of the panel which is a step by step guide that can be referred by the PSAs to on-board a transaction adviser for structuring their PPP projects. The manual details out the steps for establishing project requirements; defining objectives of the assignment, developing terms of reference for the assignment, defining eligibility criteria, identifying key personnel for executing the project, publishing RfP etc. The PSAs can use the pre-defined templates and criteria’s for selecting the TAs or can tweak the same as per the requirement specific to the project.  

The Transaction Advisers were also sensitized regarding DEA schemes for financial support to PPPs which inter alia include Viability Gap Funding (VGF) Scheme to support economically justified but commercially unviable projects, and the India Infrastructure Project Development Fund (IIPDF) to fund PPP project development expenses including costs of engaging TAs. Further, TAs were also informed about PPP project appraisal mechanisms at the DEA.

The TAs were sensitized about their support required in areas of awareness creation of DEA schemes, providing desired levels of handholding support in document preparation, data sharing and other interventions required to bridge the gap between the stakeholders involved in PPP projects.

****

RM/MV/KMN

(Release ID: 1848023) Visitor Counter : 338




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Infrastructure Finance Secretariat, DEA organises workshop to sensitise empaneled Transaction Advisers (TAs) for Public Private Partnership (PPP) Projects

Ministry of Finance

azadi ka amrit mahotsav

Infrastructure Finance Secretariat, DEA organises workshop to sensitise empaneled Transaction Advisers (TAs) for Public Private Partnership (PPP) Projects

Posted On: 03 AUG 2022 6:55PM by PIB Delhi

The Infrastructure Finance Secretariat in the Department of Economic Affairs (DEA), Ministry of Finance today organised a workshop to sensitize the empaneled transaction advisers for PPP projects which was attended by representatives of 12 empaneled Transaction Advisers (TAs) for Public Private Partnership (PPP) Projects.

The empanelment of TAs aims to provide quality advisory support to Project Sponsoring Authorities (PSAs) in transaction of PPP projects. The empanelment will help to make the process of appointment of transaction advisors/consultant seamless and efficient.

During the workshop, the Transaction Advisers were sensitized with the manual developed by the DEA for the use of the panel which is a step by step guide that can be referred by the PSAs to on-board a transaction adviser for structuring their PPP projects. The manual details out the steps for establishing project requirements; defining objectives of the assignment, developing terms of reference for the assignment, defining eligibility criteria, identifying key personnel for executing the project, publishing RfP etc. The PSAs can use the pre-defined templates and criteria’s for selecting the TAs or can tweak the same as per the requirement specific to the project.  

The Transaction Advisers were also sensitized regarding DEA schemes for financial support to PPPs which inter alia include Viability Gap Funding (VGF) Scheme to support economically justified but commercially unviable projects, and the India Infrastructure Project Development Fund (IIPDF) to fund PPP project development expenses including costs of engaging TAs. Further, TAs were also informed about PPP project appraisal mechanisms at the DEA.

The TAs were sensitized about their support required in areas of awareness creation of DEA schemes, providing desired levels of handholding support in document preparation, data sharing and other interventions required to bridge the gap between the stakeholders involved in PPP projects.

****

RM/MV/KMN

(Release ID: 1848023) Visitor Counter : 304




Read More

Infrastructure Finance Secretariat, DEA organises workshop to sensitise empaneled Transaction Advisers (TAs) for Public Private Partnership (PPP) Projects

Ministry of Finance

azadi ka amrit mahotsav

Infrastructure Finance Secretariat, DEA organises workshop to sensitise empaneled Transaction Advisers (TAs) for Public Private Partnership (PPP) Projects

Posted On: 03 AUG 2022 6:55PM by PIB Delhi

The Infrastructure Finance Secretariat in the Department of Economic Affairs (DEA), Ministry of Finance today organised a workshop to sensitize the empaneled transaction advisers for PPP projects which was attended by representatives of 12 empaneled Transaction Advisers (TAs) for Public Private Partnership (PPP) Projects.

The empanelment of TAs aims to provide quality advisory support to Project Sponsoring Authorities (PSAs) in transaction of PPP projects. The empanelment will help to make the process of appointment of transaction advisors/consultant seamless and efficient.

During the workshop, the Transaction Advisers were sensitized with the manual developed by the DEA for the use of the panel which is a step by step guide that can be referred by the PSAs to on-board a transaction adviser for structuring their PPP projects. The manual details out the steps for establishing project requirements; defining objectives of the assignment, developing terms of reference for the assignment, defining eligibility criteria, identifying key personnel for executing the project, publishing RfP etc. The PSAs can use the pre-defined templates and criteria’s for selecting the TAs or can tweak the same as per the requirement specific to the project.  

The Transaction Advisers were also sensitized regarding DEA schemes for financial support to PPPs which inter alia include Viability Gap Funding (VGF) Scheme to support economically justified but commercially unviable projects, and the India Infrastructure Project Development Fund (IIPDF) to fund PPP project development expenses including costs of engaging TAs. Further, TAs were also informed about PPP project appraisal mechanisms at the DEA.

The TAs were sensitized about their support required in areas of awareness creation of DEA schemes, providing desired levels of handholding support in document preparation, data sharing and other interventions required to bridge the gap between the stakeholders involved in PPP projects.

****

RM/MV/KMN

(Release ID: 1848023) Visitor Counter : 286




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India Might Add 28% To Its Existing Crypto Tax

You are here: Home / News / World / India Might Add 28% To Its Existing Crypto Tax

India Might Add 28% To Its Existing Crypto Tax

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People with knowledge of the situation indicated that an Indian cabinet panel will meet next week to talk about imposing a goods and services tax on cryptocurrency transactions.

The council, made up of the finance ministers of the federal government and the states, is looking to expand the tax net in order to more effectively track transactions involving virtual digital assets, according to the people, who declined to be named due to restrictions on speaking with the media. Beginning on June 28, the panel will convene for two days in Chandigarh, in northern India.

The individuals added that although conversations may be done about including it in the highest tax bracket of 28 percent, the panel is unlikely to decide on a rate in the forthcoming meeting.

India thinks a hefty 30% tax is not enough

In an effort to gauge the extent of the local cryptocurrency market and keep track of users, India’s Finance Minister Nirmala Sitharaman levied a 30 percent tax on revenue from the transfer of virtual assets and a 1 percent source tax on all cryptocurrency transactions earlier this year. The action was perceived as resolving doubt over the legality of cryptocurrency transactions.

Due to the ambiguity around whether digital currencies should be treated as products or services and the absence of a legal framework, there is still uncertainty over the implementation of a sales tax on them.

We previously reported that the federal government is already working on legislation to either regulate or strengthen regulations. However, it is envisaged that this would only happen until a worldwide agreement on the regulation of such assets emerges.

As global central banks have started to raise interest rates to rein in growing inflation, digital currencies and other risky assets have been under attack all year. This year, Bitcoin has decreased by almost 50%, while Ether has decreased by 70%


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Dow Jones Newswires: Epsilon Energy replaces CEO, CFO in leadership shuffle

Epsilon Energy Ltd. EPSN, -6.50% said Jason Stabell will become the company’s new chief executive and Andrew Williamson will take over as finance chief on July 1 in a leadership transition.

The company said Thursday that Chief Executive Mike Raleigh is resigning from the company and the board of directors, effective June 30. Finance Chief Lane Bond is retiring and will take on a transitional consulting role on July 1.

Stabell will join the board when he takes over as CEO. He has worked in the energy industry since 1998, with a focus on upstream exploration and production. He was previously chief executive of Merlon International LLC.

Williamson has also spent his entire career in the energy business. He recently served as the corporate strategy manager for Petrosantander Inc. He was also corporate development manager and vice president of finance at Merlon International.


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India will consider 28% additional tax on crypto sales next week

India will consider 28% additional tax on crypto sales next week India will consider 28% additional tax on crypto sales next week Zeynep Geylan · 7 hours ago · 2 min read

India's federal and state finance ministers will come together at a panel on 28-29 June to discuss whether to implement a new tax on crypto transactions.

2 min read

Updated: June 23, 2022 at 12:59 am

India will consider 28% additional tax on crypto sales next week

Cover art/illustration via CryptoSlate

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Federal and Finance Ministers of India will join a panel on 28-29 June to decide whether to implement an additional 28% tax on cryptocurrency transactions.

The tax in question will be implemented in addition to the 30% crypto income tax already in place.

It has been said that the panel won’t be able to finalize a rate during the two-day meeting, reportedly. However, it is certain that they’ll discuss a rate in the highest tax slab of 28%.

Income tax wasn’t enough

The 30% crypto income tax came into effect in February 2022. India’s finance minister Nirmala Sitharman described the tax law as another step toward positive crypto regulations.

Sitharman said:

“Any income from transfer of any virtual digital asset shall be taxed at the rate of 30%. No deduction in respect of any expenditure or allowance shall be allowed while computing such income, except cost of acquisition.”

Within a few months after the new tax rate, crypto trading volume dropped by 30%. The tax rate also pushed major exchanges like Coinbase and FTX to consider leaving the Indian market completely.

However, Indian authorities didn’t think the 30% taxation on income was enough. A few months after the tax implementation, India’s former finance minister came forward to say crypto is like gambling, and more taxation is needed to discourage people from participating in crypto.

He urged the current government to increase the tax rate to 40 or 50% and said:

“There is no advantage of cryptocurrency for this country. I request the youth of this nation to not go towards cryptocurrency.”

Incoming additional taxations

In addition to the 30% crypto income tax, the Indian government is looking to apply two additional taxes to the crypto industry.

DeFi

The 30% tax rate was applied to profits earned through centralized exchange platforms. To avoid the heavy taxation, many Indians turned to DeFi projects, which were not within the scope of the crypto income tax.

However, the Indian government realized the shift in investors’ behaviors and moved on to take extra precautions.

It was revealed in May 2022 that India’s Central Board of Direct Taxes (CBDT) has been looking for ways to introduce an additional 20% taxation on income earned through DeFi.

Transactions

The 28% tax rate the council will discuss next week was first proposed by India’s Goods and Service Tax Council (GST) also in May 2022.

The GST considered crypto the same as gambling, betting, and lottery. The GST set up a law committee to classify crypto’s scope among these activities and propose an appropriate tax rate.

The committee in question mentioned the possibility of going with the 28% additional tax rate for crypto transactions to discourage Indians from crypto.


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