Nigerians to pay 5% Value Added Tax on online purchases

Economist Jayati Gosh believes a windfall tax is a "no-brainer". "The difficulty is how do you establish how much is windfall? It's very complicated," Ghosh tells FRANCE 24. She is a professor of economics at the University of Massachusetts Amherst and the newly appointed co-chair of the Independent Commission for the Reform of International Corporate Taxation.

Economist Jayati Gosh believes a windfall tax is a "no-brainer". "The difficulty is how do you establish how much is windfall? It's very complicated," Ghosh tells FRANCE 24. She is a professor of economics at the University of Massachusetts Amherst and the newly appointed co-chair of the Independent Commission for the Reform of International Corporate Taxation.

A government plan calls for a tax on Spain's "big fortunes" would help offset inflation relief measures to assist low and middle-income Spaniards.

The currency took a beating from investors after the government announced plans to cut billions in tax revenues. The new Conservative Party government under Prime Minister Liz Truss has been in power for just 20 days.

There is a run on the pound and panic in the markets over the UK's biggest tax cut for the rich in half a century. New Prime minister Liz Truss taking the concept of 'going for broke' to a whole new level with an almighty gamble that the deficit will take care of itself once all the investment pours in.

UK Prime Minister Liz Truss admits she "could have laid the ground better" for her plan to reduce taxes for the wealthy. Four weeks into the job, she faces scrutiny from her own party over her handling of the scandal.

Vladimir Putin poses with Moscow's four proxy leaders of eastern Ukraine provinces annexed this Friday in a ceremony at the Kremlin. For the Russian president, it is not mission accomplished but rather no going back in a war directed at Ukraine and the West.

Just ten days after presenting his controversial mini-budget, UK Finance Minister Kwasi Kwarteng has had to retract one of its key features. Those with annual incomes above £150,000 will not see their taxes cut in the end. The U-turn comes after days of market turmoil and political pressure.

The US president said he disagreed with Liz Truss' now-abandoned plan to fight inflation with tax cuts. The embattled UK leader is now scrambling to present a new budget with the help of her new finance minister.

Truss answered questions both from the opposition and her own Conservative Party, after she reversed course on her controversial tax-cut plans.

Farmers have criticized a plan that could see them pay for greenhouse gas emissions produced by their livestock. The government says it is in talks with farmers over the proposed tax.

The highest court in the US has rejected a plea by the former president to block the release of tax returns.