U.S. President Donald Trump announced on Tuesday that he warned Taiwan Semiconductor Manufacturing Company (TSMC) that it would incur a tax penalty of up to 100% if it fails to build its new factories in the United States.
In a stern warning to the automaker, the Indian government told a Mumbai court that quashing Volkswagen's demand to cancel a $1.4 billion tax bill would have "catastrophic consequences" and could encourage companies to withhold information and delay inquiries.
Brazil’s government on Tuesday unveiled a long-promised income tax reform aimed at exempting individuals earning up to 5,000 reais (approximately $881) per month from paying income tax.
A lawyer for an Indian unit of German carmaker Volkswagen, said on Monday the country's $1.4 billion tax demand could become a matter of survival for its business in the country, as it continues to contest the order.
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