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India losing over Rs 70,000 crore in taxes to other countries

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India losing over Rs 70,000 crore in taxes to other countries

Countries are losing over $427 billion in tax each year owing to international corporate tax abuse and private tax evasion. India’s annual tax loss aggregates to $10.3 billion.

These are the findings of the first study led by The Tax Justice Network (TJN), which is an independent research based international network, that was published in alliance with other organisations.

‘The State of Tax Justice – 2020’, which is the inaugural edition of the report, explains that of the $427 billion in tax globally lost by countries each year to tax havens, $245 billion (or 57.4%) is directly lost owing to corporate tax abuse by multinational corporations (MNCs) and $182 billion (or 42.6%) owing to private tax evasion.

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The report analyses data that was self-reported by MNCs to tax authorities, owing to the Base Erosion and Profit Shifting (BEPS) project spearheaded by the Organisation for Economic Co-operation and Development (Oecd).

MNCs paid billions less in tax dues by shifting $1.38 trillion worth of profit out of the countries where they were generated and into tax havens, where corporate tax rates are extremely low or non-existent. Private tax evaders paid less tax than they should have by storing a total of over $10 trillion in financial assets offshore, adds the report.

Alex Cobham, chief executive of the Tax Justice Network, said: “A global tax system that loses over $427 billion a year is not a broken system, it’s a system programmed to fail …” “The pandemic has exposed the grave cost of turning tax policy into a tool for indulging tax abusers instead of for protecting people’s wellbeing. Now more than ever we must reprogramme our global tax system to prioritise people’s health and livelihoods over the desires of those bent on not paying tax. We are calling on governments to introduce an excess profit tax on large MNCs that have been short-changing countries for years, targeting those whose profits have soared during the pandemic while local businesses have been forced into lockdown. For the digital tech giants who claim to have our best interests at heart while having abused their way out of billions in tax, this can be their redemption tax. A wealth tax alongside this would ensure that those with the broadest shoulders contribute as they should at this critical time,” added Cobham.

Also Read: BIGG BOSS 14: KAMYA PUNJABI COMPARES KAVITA KAUSHIK TO SIDHARTH SHUKLA, CALLS PAVITRA’S OUTBURST ‘JOKE OF THE SEASON’

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Excess belly fat is your 40s? Study explains why it happens

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Excess belly fat is your 40s? Study explains why it happens

A study led by City of Hope Medical Center and UCLA has found that a certain type of fat cell in the middle age is responsible for fat accumulation in the belly area. This development challenges the conventional notion about middle-age weight gain. The study, which was conducted in India, revealed that a new type of fat cell is responsible for fat accumulation.

The belly area. The findings suggest that the mid-life belly may not be due to diet or the absence of regular workout, but rather a new type of fat cell that develops in middle age. The study also highlighted the Festival of Crickit Quiz and photos from the century of leadership. The study also highlighted the upcoming release of Rajamouli Prabhas’ Baahubali theatres.

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A study by researchers from the City of Hope Medical Center and UCLA found that the human body starts rapidly making fat around their 40s, in the deep belly area. The researchers tracked fat formation in mice of different ages, finding that mice of 12 months (equivalent to 40 years in humans) demonstrated sudden fat formation in the belly area. They also observed similar.

Patterns in mice that are observed in humans in middle age – expanded waistlines, reduced energy expenditure, and insulin resistance. These changes indicate metabolic differences that can increase the risk of diabetes and heart diseases. The researchers identified a new fat cell precursor called “CP-A” (committed preadipocyte, age-enriched), which appeared middle age.

Rapidly developed into mature fat cells. They also examined the fat tissue of humans and observed the same CP-A cells in middle-aged humans. The research team from City of Hope Medical Center and UCLA concluded that despite the low turnover rate of adipocytes in young adults, adipogenesis is unlocked during middle age, explaining why the human body starts.

Why Belly Fat Increases in Your 40s

  1. Slower Metabolism: As you age, your body’s metabolism tends to slow down. This means you burn fewer calories at rest, making it easier to gain weight if dietary habits and physical activity levels remain unchanged. This slowdown can lead to a gradual increase in body fat over time. ​
  2. Hormonal Changes: In women, the transition to menopause brings a decrease in estrogen levels, which can lead to fat being redistributed to the abdominal area. In men, a decline in testosterone levels can result in increased fat accumulation around the belly. ​
  3. Loss of Muscle Mass: Aging is associated with a gradual loss of muscle mass, known as sarcopenia. Since muscle tissue burns more calories than fat tissue, a decrease in muscle mass can lead to a slower metabolism and increased fat accumulation. ​
  4. Lifestyle Factors: Sedentary behavior, poor dietary choices, high stress levels, and inadequate sleep can contribute to weight gain and the accumulation of belly fat. These factors can disrupt hormonal balance and increase cravings for unhealthy foods

Health Implications

Excess abdominal fat, particularly visceral fat that surrounds internal organs, is associated AS with an increased risk of developing chronic conditions such as heart disease, type 2 diabetes, and certain cancers. ​

  • Regular Exercise: Engage in a combination of aerobic exercises (like walking, cycling, or swimming) and strength training to build muscle mass and boost metabolism.​
  • Balanced Diet: Focus on a diet rich in whole foods, including fruits, vegetables, lean proteins, and whole grains. Limit intake of processed foods, sugary beverages, and excessive alcohol.​

By understanding the factors contributing to belly fat in your 40s and adopting a proactive approach, you can manage your weight and maintain overall health Rapidly making fat.

  • Group Media Publication
  1. Construction, Infrastructure and Mining   
  2. General News Platforms – IHTLive.com
  3. Entertainment News Platforms – https://anyflix.in/

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