German green cards for
IT men
Berlin:
There is good news for IT professionals. The German government has
decided to offer another 10,000 green cards to IT professionals in
2002. The official announcement will be made by Chancellor Gerhard
Schroeder during
his forthcoming visit to New Delhi and Bangalore next week.
This takes the total amount of Green Cards offered by the German
government to 20,000 since the policy was first announced in
August, 2000.
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Govt to privatise
oil, power in 3 years
New
Delhi: In a bid to attain the Tenth Five Year Plan target of
mobilising Rs 80,000 crore from the sale of government equity in
PSUs, Disinvestment Ministry is believed to be preparing a
three-year roadmap that may include divestment in bluechip
undertakings in telecom, power and oil sectors.
"We are working on a three-year roadmap for disinvestment of
various PSUs. This would also include public sector companies in
telecom, power and oil sector," said an official.
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Service tax for
all, if VAT enforced
Bangalore:
Not only professionals but even dhobis and barbers, will have to
pay service tax from April 2002, if the Centre agrees to one of
the unanimous demands by states once the Value Added Tax (VAT)
comes into effect from April 1, 2002.
The service tax from these segments is expected to fetch a
whopping Rs 63,675 crore and states are insistent on it in order
to offset the revenue shortfall after switch over to VAT. Though
not widely known, service taxation is taxation of any service
rendered as against taxes on goods. It is done by every country
which has adopted VAT.
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