After demonetization, the Indian government is pushing for digital and Unified Payments Interface (UPI) payments to achieve the much-needed digitization in financial transactions and accountability. The transaction through UPI generates payment track and it helps tax authorities to track transactions for all monitoring purposes including taxation. This is much needed to reduce the influence of cash in the economic system which helps economic planners to take the right decision.
UPI is a mobile Read more [...]
On 8 Oct, a group of 136 nations covering 90 % of the world economy agreed to the OECD-G20 Inclusive Framework on Base Erosion and Profit Shifting (BEPS) after months of negotiations. The framework provides a two-pillar solution to address the tax challenges arising from the digitization and globalisation of the global economy and prevents a race by countries looking to slash tax rates to attract investment. Digitization and globalisation have had a significant effect on economies and people's Read more [...]
The Covid-19 pandemic in 2020 has had major impact on businesses especially on Small and Medium Enterprises (SMEs). The new situation has forced even large profit-making corporations to re-evaluate their business processes to match up with the changing business environment. It is a fact that digital transformation is one such option absorbed by companies invariably, of late. The period of lockdown has witnessed accelerated adaption of digital transformation in order to maintain business continuity Read more [...]