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Category: Taxation

  • MIL-OSI Asia-Pac: Union Government releases tax devolution of ₹1,78,173 crore to State Governments, including one advance instalment of ₹89,086.50 crore in addition to regular instalment due in October, 2024

    Source: Government of India

    Union Government releases tax devolution of ₹1,78,173 crore to State Governments, including one advance instalment of ₹89,086.50 crore in addition to regular instalment due in October, 2024

    Advance instalment released in view of upcoming festive season and to enable States to accelerate capital spending and finance their development/ welfare related expenditure

    Posted On: 10 OCT 2024 1:25PM by PIB Delhi

    The Union Government has released tax devolution of ₹ 1,78,173 crore to State Governments on 10th October, 2024, as against the normal monthly devolution of ₹89,086.50 crore. It includes one advance instalment, in addition to the regular instalment due in October, 2024.

    This release is in view of the upcoming festive season and to enable States to accelerate capital spending, and also finance their development/ welfare related expenditure.

    State-wise breakup of amounts released is given below in the table:

     

    State-wise distribution of Net Proceeds of Union Taxes and Duties for October, 2024

     

    Sl. No

    Name of State

    Total (₹ Crore)

    1

    ANDHRA PRADESH

    7,211

    2

    ARUNACHAL PRADESH

    3,131

    3

    ASSAM

    5,573

    4

    BIHAR

    17,921

    5

    CHHATTISGARH

    6,070

    6

    GOA

    688

    7

    GUJARAT

    6,197

    8

    HARYANA

    1,947

    9

    HIMACHAL PRADESH

    1,479

    10

    JHARKHAND

    5,892

    11

    KARNATAKA

    6,498

    12

    KERALA

    3,430

    13

    MADHYA PRADESH

    13,987

    14

    MAHARASHTRA

    11,255

    15

    MANIPUR

    1,276

    16

    MEGHALAYA

    1,367

    17

    MIZORAM

    891

    18

    NAGALAND

    1,014

    19

    ODISHA

    8,068

    20

    PUNJAB

    3,220

    21

    RAJASTHAN

    10,737

    22

    SIKKIM

    691

    23

    TAMIL NADU

    7,268

    24

    TELANGANA

    3,745

    25

    TRIPURA

    1,261

    26

    UTTAR PRADESH

    31,962

    27

    UTTARAKHAND

    1,992

    28

    WEST BENGAL

    13,404

     

    ****

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    MIL OSI Asia Pacific News –

  • MIL-OSI Europe: OLAF and partners strengthen efforts against tobacco smuggling

    Source: European Anti-Fraud Offfice

    The European Anti-Fraud office (OLAF), in cooperation with the Irish Revenue – Tax and Customs, organised the annual OLAF Tobacco Conference from 8-10 October in Dublin, Ireland. The event brought together over 90 representatives from key stakeholders including customs and national police authorities of EU member states and third countries, the World Customs Organization, EUROPOL and representatives from the industry.

    Participants discussed strategies and latest trends and exchanged best practices in order to enhance international cooperation in combating tobacco smuggling. During the conference, OLAF presented an overview of developments on water pipe tobacco and new generation tobacco products. These new products, which include tobacco pouches, heated tobacco products and electronic cigarettes, have gained popularity among consumers in recent years, especially young consumers, as alternatives to traditional cigarettes. This trend presents a unique challenge for regulators and enforcement agencies. 

    The illegal tobacco trade poses a significant threat to public health, deprives the EU and member states of substantial tax revenues and fuels organised crime networks. It undermines anti-smoking and public health campaigns, and violates the strict rules that the EU and Member States have on manufacturing, distribution and sale. In 2023, international operations involving the European Anti-Fraud Office (OLAF) led to the seizure of 616 million illicit cigarettes, 140 tonnes of raw tobacco and 6 tonnes of water pipe tobacco, saving an estimated €150 million in revenue loss in the EU.

    The global nature of tobacco smuggling requires a united response. The goal of the conference was to build stronger, more robust and coordinated international efforts to combat the illegal tobacco trade, thereby protecting public health, safeguarding revenues, and disrupting the illicit networks involved in smuggling operations. 

    MIL OSI Europe News –

  • MIL-OSI USA: RELEASE: $52 Million Multistate Settlement with Marriott for Data Breach of Starwood Guest Reservation Database

    Source: US State of Hawaii

    RELEASE: $52 Million Multistate Settlement with Marriott for Data Breach of Starwood Guest Reservation Database

    Posted on Oct 9, 2024 in Latest Department News, Newsroom

     

    DEPARTMENT OF COMMERCE AND CONSUMER AFFAIRS

    KA ʻOIHANA PILI KĀLEPA

    OFFICE OF CONSUMER PROTECTION

     

    JOSH GREEN, M.D.

    GOVERNOR | KE KIAʻĀINA

     

    NADINE Y. ANDO

    DIRECTOR | KA LUNA HOʻOKELE

    THOMAS MANA MORIARTY

    EXECUTIVE DIRECTOR

              

    FOR IMMEDIATE RELEASE

    October 9, 2024

    $52 Million Multistate Settlement with Marriott for Data Breach of Starwood Guest Reservation Database

     

    HONOLULU — The state of Hawai‘i Department of Commerce and Consumer Affairs Office of Consumer Protection announced today that a coalition of 50 attorneys general has reached a settlement with Marriott International, Inc. as the result of an investigation into a large multiyear data breach of one of its guest reservation databases. The Federal Trade Commission, which has been coordinating closely with the states throughout this investigation, has reached a parallel settlement with Marriott. Under the settlement with the attorneys general, Marriott has agreed to strengthening its data security practices using a dynamic risk-based approach, provide certain consumer protections, and make a $52 million payment to states. The state of Hawai‘i will receive$438,045.00 from the settlement.

    Marriott acquired Starwood in 2016 and took control of the Starwood computer network within the same year. However, from July 2014 until September 2018, intruders in the system went undetected. This led to the breach of 131.5 million guest records pertaining to customers in the United States. The impacted records included contact information, gender, dates of birth, legacy Starwood Preferred Guest information, reservation information, and hotel stay preferences, as well as a limited number of unencrypted passport numbers and unexpired payment card information.

    Shortly after the breach of the Starwood database was announced, a coalition of 50 attorneys general launched a multistate investigation into the breach. Today’s settlement resolves allegations by the attorneys general that Marriott violated state consumer protection laws, personal information protection laws, and, where applicable, breach-notification laws by failing to implement reasonable data security measures and remediate data security deficiencies, particularly when attempting to use and integrate Starwood into its systems.

    “When companies choose to collect and store consumer data, they must take steps to secure it,” stated Executive Director of the Office of Consumer Protection, Mana Moriarty. “We will continue to hold businesses accountable for their failure to do so.”

    Under the terms of the settlement, Marriott has agreed to strengthen and continually improve its cybersecurity practices. Some of the specific measures include:

    • Implementation of a comprehensive Information Security Program. This includes new overarching security program mandates, such as incorporating zero-trust principles, regular security reporting to the highest levels within the company, including the Chief Executive Officer, and enhanced employee training on data handling and security.
    • Data minimization and disposal requirements, which will lead to less consumer data being collected and retained.
    • Specific security requirements with respect to consumer data, including component hardening, conducting an asset inventory, encryption, segmentation to limit an intruder’s ability to move across a system, patch management to ensure that critical security patches are applied in a timely manner, intrusion detection, user access controls, and logging and monitoring to keep track of movement of files and users within the network.
    • Increased vendor and franchisee oversight, with a special emphasis on risk assessments for “Critical IT Vendors,” and clearly outlined contracts with cloud providers.
    • In the future, if Marriott acquires another entity, it must timely further assess the acquired entity’s information security program and develop plans to address identified gaps or deficiencies in security as part of the integration into Marriott’s network.
    • An independent third-party assessment of Marriott’s information security program every two years for a period of 20 years for additional security oversight.

    These settlement terms are grounded in a well-developed risk-based approach in which Marriott not only needs to conduct an annual enterprise level risk assessment, but it must also perform risk analyses throughout the year for changes to security controls. Those ongoing risk assessments must address the criteria of “harm to others” – which would include potential harm to consumers.

    As part of the settlement, Marriott will give consumers specific protections, including a data deletion option, even if consumers do not currently have that right under state law. Marriott must offer multifactor authentication to consumers for their loyalty rewards accounts, such as Marriott Bonvoy, as well as reviews of those accounts if there is suspicious activity.

    Connecticut, Maryland, and Oregon as well as the District of Columbia, Illinois, Louisiana, Massachusetts, North Carolina, and Texas co-led the multistate investigation, assisted by the Executive Committee of Alabama, Arizona, Arkansas, Florida, Nebraska, New Jersey, New York, Ohio, Pennsylvania, and Vermont, and were joined by Alaska, Colorado, Delaware, Georgia, Hawai‘i, Idaho, Indiana, Iowa, Kansas, Kentucky, Maine, Michigan, Minnesota, Mississippi, Missouri, Montana, Nevada, New Hampshire, New Mexico, North Dakota, Oklahoma, Rhode Island, South Carolina, South Dakota, Tennessee, Utah, Virginia, Washington, West Virginia, Wisconsin, and Wyoming.

    ###

    Media Contact:

    William Nhieu

    Communications Officer
    Department of Commerce and Consumer Affairs
    Email:     [email protected]

    Phone: 808-586-7582

    MIL OSI USA News –

  • MIL-OSI Asia-Pac: PRESS RELEASE – THE MINISTRY OF CUSTOMS AND REVENUE IN RECEIPT OF DONATED EQUIPMENT & SAFETY GEAR FROM THE AUSTRALIA BORDER FORCE

    Source: Government of Western Samoa

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    The Australian Border Force (ABF) has further strengthened its partnership with Samoa’s Ministry of Customs and Revenue (MCR) through the donation of essential equipment and safety gear. The handover ceremony held at the Customs Office in Matautu on Wednesday 2nd October 2024, was officiated by Reverend Elder Molī Molī of the EFKS Matautu-tai parish. The ceremony also marked another milestone in the long-standing relationship between Samoa and Australia.

    Australia’s High Commissioner to Samoa, H.E Will Robinson, reaffirmed the commitment to enhancing border security with the delivery of equipment, including two Smiths high scan cabinet X-ray units, Narcotic Identification Kits, four personal radiation detectors, and personal protective equipment (PPE’s) including high viz vests and safety boots. In addition, ABF experts also provided two weeks of specialized training for Customs and Biosecurity officers, focusing on the safe operation of the equipment and advanced inspection techniques.

    The Deputy Prime Minister of Samoa who is also Minister for MCR, Hon. Tuala Tevaga Iosefo Ponifasio, accepted the kind donation and expressed sincerest gratitude to the Australian government and ABF for their ongoing support. He emphasized the importance of the donation in safeguarding Samoa’s borders and acknowledged ABF Inspector Michelle Bond for her role in facilitating the initiative. He also urged MCR staff to ensure that the new equipment be put to good use to enhance the Ministry’s border enforcement efforts, ultimately benefiting Samoa.

    The ceremony concluded with the signing of Memorandum of Understanding and exchange of gift certification relative to the donated items between the ABF and MCR.

    End

    SOURCE – Ministry of Customs & Revenue Samoa

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    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: His Excellency Will Robinson Remarks Gifting Ceremony for MCR from ABF – 2 October 2024

    Source: Government of Western Samoa

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    • Reverend Moli Moli

    • Deputy Prime Minister, Tuala Tevaga Iosefo Ponifasio

    • CEO of the Ministry of Customs and Revenue, Fonoti Talaitupu Li’a-Taefu

    • DCEO Customs Services, Lealataua Sophia Laifai-Oloapu

    • The team of Customs and Revenue Management

    Faafetai tele lava for the opportunity to share a few brief words this morning.

    This handover is yet another milestone in our Samoa-Australia Partnership – a partnership built on shared values, trust, and a common purpose.

    We both want to ensure the safety and security of our people and our borders.

    Deputy Prime Minister – on behalf of the Australian Government, I am pleased to officially hand over this equipment.

    This includes two Smiths 6040 x-ray units, narcotics identification kits, four RadEye personal radiation detectors, and a comprehensive set of personal protective gear.

    It is our hope that this equipment contributes to Samoa’s continued efforts in securing its borders – not only for CHOGM, but beyond.

    Australia has worked closely with Samoa to provide training and support alongside this equipment.

    It builds on the current technology training delivered by the Australia’s Department of Home Affairs, in partnership with the Australian Border Force.

    This training has included essential sessions such as Cabinet X-ray training, Narcotic Identification Kit testing training, Container X-ray image analysis training, Subject Matter Expert Advanced Operator training, Ionscan 500DT Operator training and RadEye PRD operator training.

    Australia is proud to stand alongside Samoa.

    We know that by working together, we can face the challenges of today’s evolving global security landscape.

    Our cooperation strengthens the safety of our borders and our shared Blue Pacific.

    But what makes our partnership truly thrive is not just the sharing of resources, but the exchange of knowledge.

    This is a two-way learning process, where we grow and learn from each other.

    In that spirit, Fonoti, I hope my colleague Michelle has been an asset to your ministry, just as I know she has gained so much from working with your outstanding team.

    I want to thank everyone involved in this important initiative, particularly the dedicated personnel at the Ministry of Customs and Revenue and the Australian Border Force.

    Your hard work and commitment are the foundations of this partnership.

    I look forward to continuing our close cooperation as we work together for a safer future.

    Faafetai tele lava. Soifua ma ia manuia.

    Photos by the Government of Samoa (Pule Puleina)

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    MIL OSI Asia Pacific News –

  • MIL-OSI Banking: Danmarks National­bank’s comments on the Economic Council’s discussion paper, Autumn 2024

    Source: Danmarks Nationalbank

    Danmarks Nationalbank generally shares the Chairmanship’s assessment of the outlook for the Danish economy and the risk outlook. Interest rate rises in recent years have contributed to slowing growth in the Danish and international economy and to a fall in inflation. This has prompted the European Central Bank (ECB) and others to ease monetary policy again. Like the Chairmanship, Danmarks Nationalbank believes that the development of the Danish economy has been characterised by a dichotomy in recent years. On the one hand, there has been a slowdown in growth in most parts of the domestic economy, while on the other, there has been an increase in exports, in particular driven by production abroad under Danish ownership, known as merchanting and processing (M&P). Like the Chairmanship, Danmarks Nationalbank assesses that M&P activities as such have only a minor impact on the domestic cyclical position. M&P is expected to make a significant contribution to growth in the Danish economy over the next few years, while the rest of the export-oriented industries are also expected to grow. Domestic demand is expected to pick up as real wage growth and gradually looser monetary policy translate into increased private consumption and investment.

    The Chairmanship believes that the Danish economy is currently experiencing a boom with more than normal pressure on the labour market. Danmarks Nationalbank shares the view that there is still some pressure on the labour market, although it has eased compared to a few years ago. However, Danmarks Nationalbank believes that the pressure on the labour market, measured by the employment gap, has eased to a greater extent and that it is currently smaller than the Chairmanship’s assessment. This is supported by a number of indicators such as the labour shortages and number of vacancies reported by companies, both of which indicate that the pressure has eased compared to a few years ago. Unlike the Chairmanship, Danmarks Nationalbank believes that the Danish economy is currently in an approximately neutral cyclical position.

    Danmarks Nationalbank share the Chairmanship’s expectations that wage growth will slow down next year due to less pressure on the labour market and significantly lower inflation. However, Nationalbanken also expect lower wage increases than the Chairmanship. Inflation is currently fuelled by domestic factors, and Danmarks Nationalbank expects to a larger extend than the Chairmanship that the current high wage increases will lift inflation going forward. Nationalbanken therefore expect slightly higher consumer price increases than the Chairmanship next year.

    Like the Chairmanship, Danmarks Nationalbank believes that monetary and fiscal policy is still needed to contribute to an appropriate development in the business cycle in Denmark, which will support stable price development. Nationalbanken has raised interest rates significantly since the summer of 2022 as a result of the tightening of monetary policy implemented by the ECB in the euro area to bring down inflation. The Chairmanship believes that monetary policy has dampened activity in recent years and will also dampen activity next year, whereas fiscal policy is expected to counteract this in 2025. Specifically, the Chairmanship estimates that fiscal policy has been eased by around 1 per cent of GDP in 2025 compared to 2023. Based on the assessment of the current situation of high capacity pressures, the Chairmanship believes that fiscal policy should be tightened. From a purely stabilisation point of view, it is considered appropriate to tighten fiscal policy to return it approximately to the level of 2023.

    In the current situation with continued high wage increases and some pressure on the labour market, including low unemployment, Danmarks Nationalbank shares the Chairmanship’s assessment that this is a good time to ease fiscal policy to the extent proposed in the government’s proposal for the 2025 budget. However, Danmarks Nationalbank believes that a tightening of the magnitude recommended by the Chairmanship would be too much. This is due to the fact that inflation has fallen sharply and that pressure on the labour market has been reduced over the past few years. Danmarks Nationalbank also believes that monetary policy and financial conditions remain tight in Denmark.

    Danmarks Nationalbank agree with the Chairmanship that the green tripartite agreement (“Agreement on a Green Denmark”) is a step towards uniform taxation of carbon emissions in Denmark, but that the effective tax level, including the proposed basic deduction, is still lower in agriculture than in other industries. Danmarks Nationalbank also shares the Chairmanship’s assessment that there is a risk of the reductions assumed in the agreement not being realised, partly because the agreement involves untested technologies. Thus, it remains unclear whether the carbon tax level is sufficient to ensure the fulfilment of the objectives of the Climate Act. Clarity on future tax levels contributes to price and financial stability by clarifying risks associated with emission-intensive business models.

    Danmarks Nationalbank contributed to the work of the “Expert Group for a Green Tax Reform” in 2023 by assessing the impact of carbon taxes on agriculture on banks and mortgage credit institutions. Danish banks and mortgage credit institutions are generally expected to be well equipped to handle any losses resulting from a carbon tax. This is due to their ongoing profits, a decrease in the institutions’ total lending to the industry and a generally high level of security in underlying collateral.

    MIL OSI Global Banks –

  • MIL-OSI: STS Cloud and Cloudbeds unveil powerful integration to transform hotel group sales and event operations

    Source: GlobeNewswire (MIL-OSI)

    Charleston, SC, Oct. 09, 2024 (GLOBE NEWSWIRE) — SalesAndCatering.com and Cloudbeds have announced a two-way integration that will empower hotels, resorts, and conference centers to optimize hotel group sales and event management.  By combining Cloudbeds’ innovative property management system (PMS) with STS Cloud’s robust event management and sales capabilities, hoteliers can prevent overbookings, optimize room and event inventory, and deliver personalized service to win more deals. 

    The integration enables hotel staff to manage every aspect of group and event bookings, from room blocks to event contracts, while automatically syncing data with Cloudbeds in real time. Sales managers can easily create and manage contracts, banquet event orders (BEOs), and special requests from any device, enhancing both the guest experience and hotel efficiency. By automating many of the time-consuming aspects, like room block management and rate tracking, hotel teams can operate more efficiently,  maximize revenue from group stays, and focus on creating exceptional guest experiences.

    “Efficiency is a key factor in maximizing hotel group sales and meeting revenue,” said Ryan Hamilton, Co-founder of STS Cloud. “We designed STS Cloud to streamline every part of the sales process—from pipeline management and group block creation to event orders and digital contracts. Our integration with Cloudbeds takes this a step further by allowing sales teams to check room availability and automatically sync room blocks directly into the PMS. This seamless connection not only saves time but also boosts productivity, enabling teams to focus on closing deals and enhancing overall hotel operations. We prioritize quality partnerships and are excited to build a strong relationship with Cloudbeds.”

    The key features of the STS Cloud and Cloudbeds partnership include:

    • Seamless integration:  Room block and rate information will flow effortlessly from STS Cloud into Cloudbeds’ Property Management System (PMS), while STS Cloud will simultaneously pull real-time inventory, pickup, and room rates from Cloudbeds, ensuring hotels maintain accuracy and efficiency in managing their bookings.
    • Efficient event management: Event planners and sales teams can easily create and manage contracts, banquet event orders (BEOs), and special requests directly from their mobile devices, enabling personalized service for every event.
    • Revenue optimization: The platform offers robust tools to upsell additional services such as catering, banquet services, and amenities, helping hotels increase revenue from group bookings.
    • Flexible deployment options: STS Cloud supports both SaaS and on-premise deployment, providing hotels of all sizes with a solution that fits their unique needs.

    “Our collaboration with STS Cloud creates a powerful solution for hotels,” said Richard Castle, Co-Founder of Cloudbeds. “We share a common belief in user-friendly design, advanced functionality,  and expert customer support, which makes for happier, more efficient hotel staff. This two-way integration optimizes group sales and event management. We look forward to growing this partnership to drive even more value for our customers.”

    For more information about the STS Cloud and Cloudbeds integration, visit salesandcatering.com and cloudbeds.com.

    END

    About SalesAndCatering.com

    SalesAndCatering.com provides the most affordable full-featured Sales and Catering systems for hospitality.  Its STS Cloud Sales and Catering system is widely installed and engineered to give property sales teams the sales tools that help them achieve their goals. SalesAndCatering.com’s systems are developed and supported by the company’s US-based offices. It is a trusted full-service sales and catering partner that delivers solutions via a software-as-a-service model that ensures greater client communication to streamline the sales process and maximize staff productivity. SalesAndCatering.com’s systems help hotel companies meet revenue goals through anytime-anywhere data access and integration with multiple PMS systems.  STS Cloud delivers unparalleled performance to help you thrive in today’s competitive sales environment.

    For more information, please visit salesandcatering.com.

    About Cloudbeds

    Cloudbeds is the leading platform redefining the concept of PMS for the hospitality industry, serving tens of thousands of properties in more than 150 countries worldwide. Built from the ground up to be masterfully unified and scalable, the award-winning Cloudbeds Platform brings together built-in and integrated solutions that modernize hotel operations, distribution, guest experience, and data & analytics. Founded in 2012, Cloudbeds has been named a top PMS, Hotel Management System and Channel Manager (2021-2024) by Hotel Tech Report, World’s Best Hotel PMS Solutions Provider (2022) by World Travel Awards, and recognized in Deloitte’s Technology Fast 500 in 2023.

    Attachment

    The MIL Network –

  • MIL-OSI Banking: IMF Staff and Tajikistan Authorities Reach Staff-Level Agreement on the First Review of the Policy Coordination Instrument (PCI)

    Source: International Monetary Fund

    October 9, 2024

    End-of-Mission press releases include statements of IMF staff teams that convey preliminary findings after a visit to a country. The views expressed in this statement are those of the IMF staff and do not necessarily represent the views of the IMF’s Executive Board. Based on the preliminary findings of this mission, staff will prepare a report that, subject to management approval, will be presented to the IMF’s Executive Board for discussion and decision.

    • IMF staff and the Tajikistan authorities have reached a staff-level agreement on the first review under the Policy Coordination Instrument (PCI). The PCI aims to maintain macroeconomic stability, strengthen the authorities’ policy frameworks, and support their efforts to foster more sustainable and inclusive growth.
    • Macroeconomic performance remains favorable with real GDP growth at 8.3 percent during January-August 2024, and twelve-month inflation slowing to 3.6 percent in August. The current account remained in surplus in the first half of 2024, with international reserves at comfortable levels.
    • Policy priorities are to enhance revenue mobilization, rationalize tax exemptions, modernize FX and public debt markets, enhance banking supervision and macroprudential oversight, and improve governance and transparency of SOEs and other entities to strengthen the favorable business climate.

    Dushanbe, Tajikistan: An International Monetary Fund (IMF) team led by Mr. Matthew Gaertner held discussions with the Tajikistan authorities during September 23-October 4, 2024, for the first review of the Policy Coordination Instrument (PCI) [[1]].

    At the conclusion of the mission, Mr. Gaertner issued the following statement:

    “The IMF mission held productive discussions with the Tajikistan authorities and reached staff-level agreement on the policies needed to complete the first review under the PCI. The successful completion of the review is subject to approval by IMF management and the IMF Executive Board. Consideration by the Board is expected in November 2024.

    “Real GDP continued to grow at 8.3 percent during January-August 2024, supported by strong growth in services and construction. Inflation declined to 3.6 percent in August from 3.8 in December, remaining below the lower bound of the National Bank of Tajikistan’s target range. The current account remained in surplus during the first half of 2024 with strong financial inflows supporting comfortable levels of FX reserves. The authorities recorded a fiscal deficit well below the program’s target in the first half of the year, anchoring a continued reduction in public debt. The banking system is stable, with robust growth in deposits and credit. Strong GDP growth and low inflation are expected to continue in 2025 but geopolitical and climate risks create uncertainty over the medium-term outlook.

    “Program implementation has remained on track, with most of the quantitative targets for end-June 2024 being met and all reform targets being observed. The quantitative targets on net international reserves and the fiscal deficit were met comfortably. Improvements in revenue mobilization and debt management remain central to program objectives. Fiscal reforms have focused on quantifying losses from inefficient tax exemptions and implementing a Medium-Term Revenue Plan aiming to increase fiscal space for priority social and development spending. In line with the updated Debt Management Strategy, the Ministry of Finance (MOF) has started issuing government securities at market-based rates to diversify financing sources.

    “Under the PCI, the authorities have improved monitoring of fiscal risks from state-owned enterprises (SOE), bringing all companies with state ownership of at least 20 percent under the monitoring of the MOF. Monetary and exchange rate policy reforms have centered on improving the functioning of the FX market by rationalizing the system supporting remittances and money transfers through the banking system and improving the mechanism for executing government FX transactions to better reflect prevailing market rates.

    “Looking ahead, the authorities will aim to continue to rationalize tax exemptions and tax administration, modernize FX and public debt markets, improve banking supervision and macroprudential oversight, and enhance governance and transparency of SOEs and other public and private entities to support a favorable business climate and foster more sustainable and inclusive growth. Enhanced exchange rate flexibility is essential to strengthen resilience to shocks and support the transition to an interest-rate based framework. The authorities have proposed to expand the fiscal reform agenda through new measures aiming to develop a plan to streamline tax exemptions and including all companies with a minimum of 20 percent state ownership in the 2024 Statement of Fiscal Risks.

    “The IMF team would like to thank the authorities for their excellent cooperation and constructive discussions.”

    [[1]] The IMF’s Policy Coordination Instrument (PCI) is designed for countries that do not need balance of payments financial support. The PCI helps countries design effective economic programs that, once approved by the IMF’s Executive Board, signal to donors, multilateral development banks, and markets the Fund’s endorsement of a member’s policies.

    IMF Communications Department
    MEDIA RELATIONS

    PRESS OFFICER: Angham Al Shami

    Phone: +1 202 623-7100Email: MEDIA@IMF.org

    @IMFSpokesperson

    MIL OSI Global Banks –

  • MIL-OSI Russia: IMF Staff and Tajikistan Authorities Reach Staff-Level Agreement on the First Review of the Policy Coordination Instrument (PCI)

    Source: IMF – News in Russian

    October 9, 2024

    End-of-Mission press releases include statements of IMF staff teams that convey preliminary findings after a visit to a country. The views expressed in this statement are those of the IMF staff and do not necessarily represent the views of the IMF’s Executive Board. Based on the preliminary findings of this mission, staff will prepare a report that, subject to management approval, will be presented to the IMF’s Executive Board for discussion and decision.

    • IMF staff and the Tajikistan authorities have reached a staff-level agreement on the first review under the Policy Coordination Instrument (PCI). The PCI aims to maintain macroeconomic stability, strengthen the authorities’ policy frameworks, and support their efforts to foster more sustainable and inclusive growth.
    • Macroeconomic performance remains favorable with real GDP growth at 8.3 percent during January-August 2024, and twelve-month inflation slowing to 3.6 percent in August. The current account remained in surplus in the first half of 2024, with international reserves at comfortable levels.
    • Policy priorities are to enhance revenue mobilization, rationalize tax exemptions, modernize FX and public debt markets, enhance banking supervision and macroprudential oversight, and improve governance and transparency of SOEs and other entities to strengthen the favorable business climate.

    Dushanbe, Tajikistan: An International Monetary Fund (IMF) team led by Mr. Matthew Gaertner held discussions with the Tajikistan authorities during September 23-October 4, 2024, for the first review of the Policy Coordination Instrument (PCI) [[1]].

    At the conclusion of the mission, Mr. Gaertner issued the following statement:

    “The IMF mission held productive discussions with the Tajikistan authorities and reached staff-level agreement on the policies needed to complete the first review under the PCI. The successful completion of the review is subject to approval by IMF management and the IMF Executive Board. Consideration by the Board is expected in November 2024.

    “Real GDP continued to grow at 8.3 percent during January-August 2024, supported by strong growth in services and construction. Inflation declined to 3.6 percent in August from 3.8 in December, remaining below the lower bound of the National Bank of Tajikistan’s target range. The current account remained in surplus during the first half of 2024 with strong financial inflows supporting comfortable levels of FX reserves. The authorities recorded a fiscal deficit well below the program’s target in the first half of the year, anchoring a continued reduction in public debt. The banking system is stable, with robust growth in deposits and credit. Strong GDP growth and low inflation are expected to continue in 2025 but geopolitical and climate risks create uncertainty over the medium-term outlook.

    “Program implementation has remained on track, with most of the quantitative targets for end-June 2024 being met and all reform targets being observed. The quantitative targets on net international reserves and the fiscal deficit were met comfortably. Improvements in revenue mobilization and debt management remain central to program objectives. Fiscal reforms have focused on quantifying losses from inefficient tax exemptions and implementing a Medium-Term Revenue Plan aiming to increase fiscal space for priority social and development spending. In line with the updated Debt Management Strategy, the Ministry of Finance (MOF) has started issuing government securities at market-based rates to diversify financing sources.

    “Under the PCI, the authorities have improved monitoring of fiscal risks from state-owned enterprises (SOE), bringing all companies with state ownership of at least 20 percent under the monitoring of the MOF. Monetary and exchange rate policy reforms have centered on improving the functioning of the FX market by rationalizing the system supporting remittances and money transfers through the banking system and improving the mechanism for executing government FX transactions to better reflect prevailing market rates.

    “Looking ahead, the authorities will aim to continue to rationalize tax exemptions and tax administration, modernize FX and public debt markets, improve banking supervision and macroprudential oversight, and enhance governance and transparency of SOEs and other public and private entities to support a favorable business climate and foster more sustainable and inclusive growth. Enhanced exchange rate flexibility is essential to strengthen resilience to shocks and support the transition to an interest-rate based framework. The authorities have proposed to expand the fiscal reform agenda through new measures aiming to develop a plan to streamline tax exemptions and including all companies with a minimum of 20 percent state ownership in the 2024 Statement of Fiscal Risks.

    “The IMF team would like to thank the authorities for their excellent cooperation and constructive discussions.”

    [[1]] The IMF’s Policy Coordination Instrument (PCI) is designed for countries that do not need balance of payments financial support. The PCI helps countries design effective economic programs that, once approved by the IMF’s Executive Board, signal to donors, multilateral development banks, and markets the Fund’s endorsement of a member’s policies.

    IMF Communications Department
    MEDIA RELATIONS

    PRESS OFFICER: Angham Al Shami

    Phone: +1 202 623-7100Email: MEDIA@IMF.org

    @IMFSpokesperson

    https://www.imf.org/en/News/Articles/2024/10/09/pr-24361-tajikistan-imf-and-authorities-reach-agreement-on-1st-rev-of-pci

    MIL OSI

    MIL OSI Russia News –

  • MIL-OSI Economics: Professionals & Students Gather in Mexico City for First IADC Latin America Regional Forum

    Source: International Association of Drilling Contractors – IADC

    Headline: Professionals & Students Gather in Mexico City for First IADC Latin America Regional Forum

    On 25 September, IADC headquarters and the IADC Latin America Chapter hosted the first-ever IADC Latin America Regional Forum in Mexico City. The event drew 160+ attendees, including 25 students. We were pleased to sponsor students from the Universidad Nacional Autónoma de México (UNAM), Universidad Juárez Autónoma de Tabasco (UJAT), and Universidad Olmeca to attend the forum.

    With its top panels and speakers, this forum explored specific issues affecting this sector. Regional operations have their own unique requirements, and IADC’s Latin America Regional Forum explored those opportunities and challenges. 

    PROGRAM HIGHLIGHTS: 

    • Mexico’s Unlocked Potential 
    • Contractor Panel
    • Oil & Gas Industry Key Mexican Tax Considerations
    • Enhancing Red Zone Safety in the Drilling Industry
    • Education & Retention: How PAE has Fostered a Culture of Learning and Growth in Well Control & Well Integrity
    • Valaris Basic Training Rig Initiative
    • Cultivating Excellence: Strategies for Building a Culture of Continuous Learning & Innovation in Oil & Gas Companies
    • The Positive Effects of a Bottom-up Approach to Safety
    • Keynote Presentation: The Trion Project, First Deepwater Development in Mexico
    • Latin America Drilling Forecast: Well Mix & Potential Risks
    • Key Technologies to Maximize Performance & Minimize Risks in Integrated Services Drilling Projects
    • From Enabling to Optimizing with Controlled Mud Level MPD
    • Operator Panel

    Thank you to everyone who contributed to the success of this inaugural event! 

    MIL OSI Economics –

  • MIL-OSI Canada: Taxpayers’ Ombudsperson releases 2023–2024 Annual Report 

    Source: Government of Canada News (2)

    Canada’s Taxpayers’ Ombudsperson, Mr. François Boileau, released his annual report, Fair Access to Service, which was tabled yesterday in the House of Commons by Ms. Iqra Khalid, Parliamentary Secretary to the Minister of National Revenue. The report provides an overview of the activities of the Office of the Taxpayers’ Ombudsperson (OTO) between April 1, 2023, and March 31, 2024.

    OTTAWA, October 9, 2024 — Canada’s Taxpayers’ Ombudsperson, Mr. François Boileau, released his annual report, Fair Access to Service, which was tabled yesterday in the House of Commons by Ms. Iqra Khalid, Parliamentary Secretary to the Minister of National Revenue. The report provides an overview of the activities of the Office of the Taxpayers’ Ombudsperson (OTO) between April 1, 2023, and March 31, 2024.

    The report details how the OTO influenced service improvements at the Canada Revenue Agency (CRA) by reviewing service issues and complaints. It also includes three recommendations to the Minister of National Revenue and the Chair of the Board of Management to improve the CRA’s service to Canadians.

    Through the lens of how the OTO’s work can be a catalyst for change at the CRA, the first section of the report examines complaint trends for the 2023–2024 fiscal year, during which the OTO made a difference by:

    • answering over 4500 enquiries
    • receiving over 2800 complaints
    • referring almost 1400 complaints to CRA Service Feedback
    • prioritizing over 500 complaints and requesting that the CRA review the taxpayer’s issue urgently

    These were the highest number of complaints and enquiries the OTO has ever received outside of the COVID-19 pandemic.

    The report also explains how the OTO influenced change at the CRA through requests for service improvement, and it describes the CRA’s actions resulting from these requests. For example, in March 2024, the Ombudsperson requested that the CRA make changes to prevent an issue blocking callers from reaching its contact centres during regular hours of service. As a result, the CRA changed its telephone system to allow callers to access its Individual Tax, Benefits, and Business Enquiries telephone lines during all hours in which the contact centres were open across Canada, regardless of the area code or time zone of the caller.

    Additionally, the report analyzes the CRA’s efforts to make sure vulnerable and hard-to-reach populations get the benefits and credits they are entitled to. It analyzes the CRA’s existing programs, including the Community Volunteer Income Tax Program and SimpleFile by Phone, and discusses how they could be improved to better meet Canadians’ needs.

    2023–2024 report highlights:

    Recommendations

    The Taxpayers’ Ombudsperson recommends:

    1.    (…) that the CRA actively work to harmonize the operating hours of the services it provides so that residents across the country receive equal hours of service during the same operating hours depending on the various time zones in the country, to ensure equal availability of services to residents across the country.

    2.    (…) that the CRA define the eligibility criteria for the Community Volunteer Income Tax Program (CVITP) and the Income Tax Assistance – Volunteer Program (ITAVP) in Quebec, to allow self-employed individuals with a modest income and simple expenses, access to free tax clinics where such a service can be made available.

    3.    (…) that the CRA:

    a)    Provide a permanent grant program for organizations participating in the Community Volunteer Income Tax Program (CVITP) and the Income Tax Assistance – Volunteer Program (ITAVP); and

    b)    Continue to provide supplemental grant amounts to those that serve Indigenous communities and those organizations that operate in northern, rural and remote communities.

    Trends in complaints

    1.    Collection actions: The CRA fully resumed collection activities in February 2023 after they were put on hold during the COVID-19 pandemic. When compared with the previous fiscal year (April 1, 2022, to March 31, 2023), this fiscal year saw more than double the number of complaints and more than triple the number of enquiries related to a CRA collection issue.

    2.    Quality of service provided by CRA contact centres: CRA contact centres continued to generate complaints. For many years, Canadians have made us aware of their dissatisfaction with this service. Some of the issues raised by Canadians related to excessive wait times, receiving conflicting or inconsistent information, agent behaviour, and calls being dropped prematurely.

    3.    Delays in receiving notices of assessment and refunds: We heard that the CRA was taking too long to process income tax and benefit returns and send the related notices of assessment.

    4.    Delays in obtaining the Canada child benefit (CCB): Canadians told us that they experienced delays in the CRA processing their CCB applications and in verifying their eligibility. We also heard from Canadians that they received benefits late due to delays in the CRA processing their income tax and benefit returns. We noted these issues particularly when it was not clear to the CRA who was primarily responsible for the care of the child.

    5.    Delays in resolving service complaints: The CRA’s service standard to resolve complaints is 30 business days from when they receive it. We heard from taxpayers who said the CRA took much longer and were not satisfied with the length of time the CRA took to respond.

    Background information

    The Office of the Taxpayers’ Ombudsperson works independently from the CRA. Canadians can submit complaints to the Office if they feel they are not receiving the appropriate service from the CRA. Our main objective is to improve the service the CRA provides to taxpayers and benefit recipients by reviewing individual service complaints and service issues that affect more than one person or a segment of the population.

    The Taxpayers’ Ombudsperson assists, advises and informs the Minister of National Revenue about matters relating to services provided by the CRA. The Ombudsperson ensures, in particular, that the CRA respects eight of the service rights outlined in the Taxpayer Bill of Rights.

    MIL OSI Canada News –

  • MIL-OSI Economics: Professionals & Students Gather in Mexico City for First IADC Latin America Regional Forum

    Source: International Association of Drilling Contractors – IADC

    Headline: Professionals & Students Gather in Mexico City for First IADC Latin America Regional Forum

    On 25 September, IADC headquarters and the IADC Latin America Chapter hosted the first-ever IADC Latin America Regional Forum in Mexico City. The event drew 160+ attendees, including 25 students. We were pleased to sponsor students from the Universidad Nacional Autónoma de México (UNAM), Universidad Juárez Autónoma de Tabasco (UJAT), and Universidad Olmeca to attend the forum.

    With its top panels and speakers, this forum explored specific issues affecting this sector. Regional operations have their own unique requirements, and IADC’s Latin America Regional Forum explored those opportunities and challenges. 

    PROGRAM HIGHLIGHTS: 

    • Mexico’s Unlocked Potential 
    • Contractor Panel
    • Oil & Gas Industry Key Mexican Tax Considerations
    • Enhancing Red Zone Safety in the Drilling Industry
    • Education & Retention: How PAE has Fostered a Culture of Learning and Growth in Well Control & Well Integrity
    • Valaris Basic Training Rig Initiative
    • Cultivating Excellence: Strategies for Building a Culture of Continuous Learning & Innovation in Oil & Gas Companies
    • The Positive Effects of a Bottom-up Approach to Safety
    • Keynote Presentation: The Trion Project, First Deepwater Development in Mexico
    • Latin America Drilling Forecast: Well Mix & Potential Risks
    • Key Technologies to Maximize Performance & Minimize Risks in Integrated Services Drilling Projects
    • From Enabling to Optimizing with Controlled Mud Level MPD
    • Operator Panel

    Thank you to everyone who contributed to the success of this inaugural event! 

    MIL OSI Economics –

  • MIL-OSI Australia: School building funds

    Source: Australian Department of Revenue

    Some school building funds may be eligible to be deductible gift recipients.

    This information will help you to understand the characteristics needed for a school fund to be eligible. If you’re eligible, you can apply for DGR endorsement.

    The word ‘school’ in this section refers to either a school or college.

    Characteristics of a school building fund

    A school building fund has the following characteristics:

    • It is a public fund.
    • It must be operated by or be
    • It meets the key requirements of a school building fund which are

    You can use the checklist to work out if your fund has the characteristics of a school building fund.

    Definition of a school

    A school is a place where people come together to be instructed in an area of knowledge or activity. Schools are not limited to those focused on academic pursuits. They include, but are not limited to, recreational, technical, arts and agricultural schools.

    A school must be an institution and have a real, separate, institutional existence. This may be within or part of another institution.

    Factors that are not required but can help show there is a school, are:

    • a set curriculum
    • instruction or training by suitably qualified persons
    • enrolment of students
    • some form of assessment and correction
    • the creation of a qualification or status that is recognised outside of the organisation.

    Definition of a building

    The term ‘building’ has its ordinary meaning and includes one building, a group of buildings, a part of a building or additions to a building.

    A building should be a permanent structure, roofed and usually with walls and flooring that provides protection from the elements. Therefore, structures such as an outdoor swimming pool, sports oval or a tennis court are not buildings as they are not enclosed and do not provide protection against the elements.

    A permanent structure, such as a covered outdoor learning area that does not have walls is capable of being a building if it is fixed to the ground and has a roof.

    Fixtures are accepted as part of a building. They are affixed to a building and are unable to be detached without substantial damage to the item itself or that to which it is attached. Fixtures include ducted heating systems, fixed air conditioning systems and carpets permanently fixed to the floor.

    Non-fixtures such as computers, furniture, training equipment and laboratory equipment do not form part of the building.

    A building must be used as a school by a qualifying body

    For a building to be characterised as a school building, a qualifying body needs to control the use of the building in its capacity as operator of the school. A qualifying body is a government, a public authority or a non-profit society or association.

    While regard must be given to the actual use of the building, a building may be inferred not to be a school building where the school organisation cannot determine how the building is used.

    The building must be used by a qualifying body for a purpose connected with the instruction provided by the school. A building is ‘used as a school’ as a matter of everyday language where its use for school purposes is substantial. However, a simple mathematical examination of the time the building is ‘used as a school’ is not conclusive.

    The following factors must be considered in determining whether a building is ‘used as a school’:

    • the overall purpose (or purposes) for which the building has been established and maintained
    • the importance of each of the activities carried out to that purpose
    • any connection that the non-school use has towards the school use
    • the extent the school use and non-school use have contributed to that purpose.

    If there is non-school use, whether the building is a school building will depend on how much it limits, detracts from or is incompatible with the instruction provided by the school.

    The following factors are not determinative, but may indicate that a building is ‘used as a school’:

    • amount of time the building is put to school use relative to time put to non-school use
    • number of people involved in the school use relative to number of people involved in its non-school use
    • physical area of the building put to school use relative to physical area put to non-school use
    • extent to which the building has been adapted or modified to accommodate its school or non-school use.

    Where a building’s uses are incidental or ancillary to the provision of instruction in a school building, it may also be considered to be ‘used as a school’.

    Incidental or ancillary buildings include:

    • school tuck-shops
    • toilet blocks
    • school assembly halls
    • school administration office
    • residential accommodation of a boarding school
    • residential accommodation for teachers.

    Any other use of the building must be either integral to its use as a school or be so minor or occasional that it does not interfere with its use as a school.

    A multipurpose building is designed to be put to a variety of different uses. To be a school building, a multipurpose building must satisfy the same requirements to be characterised as a building ‘used as a school’.

    If it’s characterised as a school building, the school building fund can use its funds to contribute towards the cost of any common area. For example, areas put to both school and non-school use such as a hallway or toilet blocks are considered a common area. However, if the common area has been adapted or designed specifically for non-school use, the school building fund cannot provide the money to pay the cost of the adaption or design.

    Use of the school building fund

    A school building fund is solely for providing money to acquire, construct or maintain a building used, or to be used, as a school by a qualifying body. It cannot be used for any other purpose.

    To determine the purpose of the fund, objective circumstances are considered, including the constituent documents of the fund and what the money is provided for. Expenditure on capital improvements and maintenance, as well as installing and maintaining fixtures, are accepted outlays of a school building fund.

    Costs payable from a school building fund include:

    • purchase of land to the extent that it reasonably relates to the area of land occupied by the school building
    • building purchase and construction expenses
    • incidental costs relating to planning, negotiating, financing and obtaining approvals for acquisition or construction
    • fixtures including security related features such as security alarms and lighting and window and door security such as grilles
    • initial repairs
    • additions or extensions to the existing building such as an additional floor, room or permanent structure within the building and the replacement, removal or addition of walls, doors or windows
    • lease payments that relate to the building or land occupied by the building
    • conditions on construction imposed by a local governing body or public authority, to the extent they relate to the ability to construct the school building
    • repairs, painting, plumbing and general maintenance of the school building, including costs of purchasing associated equipment
    • cleaning expenses including cleaning the building’s floor coverings, fixtures and windows
    • building insurance, to the extent it relates to the building
    • security monitoring costs that directly relate to the preservation or protection of a school building
    • administration costs of establishing or promoting the fund, including bank fees, accounting and audit costs, fundraising expenses and reasonable remuneration for the fund’s administrator and staff.

    A school building fund cannot provide funds for:

    • a non-school building
    • the non-school use of a school building
    • other facilities that are not buildings.

    Costs that cannot be paid include:

    • construction of non-school building like a wing of a building designed to be used as a church
    • maintenance costs that relate to the non-school use of a building, like the costs of hiring a cleaner to clean school buildings following weddings unless the fund is fully and promptly reimbursed
    • running expenses of the school that don’t relate to buildings such as water, gas, electricity, sewerage, contents insurance, teaching staff salaries or the general upkeep of furnishings
    • costs of maintaining facilities which are not buildings including sports fields, sports equipment, playgrounds, landscaping and open-air carparks.

    A school building fund may invest or lend its money if this is a bona fide and temporary arrangement and will assist the fund to achieve its objects within a reasonable period. To be a bona fide arrangement, the investment or loan must be designed to make efficient use of the money until such time as it is required for the acquisition, construction or maintenance of the building.

    Taxation Ruling TR 2013/2 Income tax: school or college building funds provides detailed guidance for organisations seeking additional information to determine whether their fund has the characteristics of a school building fund.

    School building fund checklist

    Use our checklist to work out if your fund has the characteristics of a school building fund.

    • Your fund is a public fund.
    • Your fund’s constituent or governing documents clearly show it was established solely to provide money for acquiring, constructing or maintaining a building used, or to be used, as a school.
    • The building is used, or to be used, as a school by a government, public authority or non-profit society or association.
    • Actual payments made by the fund are only for acquiring, constructing or maintaining the building, including acceptable administration costs of the fund.
    • Your fund must be operated by or be an Australian government agency or registered with the ACNCExternal Link.

    If you have worked out that your fund is a school building fund, it also needs to meet other conditions for DGR endorsement.

    MIL OSI News –

  • MIL-OSI USA: How to Replace Lost Documents in North Carolina

    Source: US Federal Emergency Management Agency

    Headline: How to Replace Lost Documents in North Carolina

    How to Replace Lost Documents in North Carolina

    Raleigh NC – When applying for FEMA assistance after Tropical Storm Helene, North Carolinians may need to provide proof of identity, residence and other documentation. Here are some steps to help you replace important documents that were lost or damaged in the storm.

    Insurance policy information: Call your insurance company or agent and ask for a copy of your policy, including the Declaration Page. 

    Birth and death certificates, marriage and divorce documents: Order certificates online: NCDHHS: DPH: NC Vital Records: Order a Certificate

    Driver Licenses: If your driver license has been lost or damaged, you may apply for a replacement at any driver license office. Standard licenses may also be replaced online: Official NCDMV: License Renewal & Replacement (ncdot.gov). If there is a change of address, North Carolina driver license or ID card holders have 30 days to update their address on the credential.

    Social Security Cards: Replace Social Security card | SSA. You may be able to do this online, or you can fill out an application for a Social Security card and bring it to your local office along with unexpired identification. Documents must be original or have a signature, stamp, or raised seal from the issuing agency, no photocopies.

    Medicare Cards: To replace your card, call Medicare at 800-633-4227(TTY 877-486-2048), visit your local Social Security office, request a new card through you online account with Social Security or visit MyMedicare.gov.

    Green Card: Go to uscis.gov and complete the Form I-90 application to replace a permanent resident card, and file it online or by mail. Replace Your Green Card | USCIS.

    Passports: How to Report a Passport Lost or Stolen (state.gov).

    Federal Tax Returns: About Form 4506, Request for Copy of Tax Return.

    Military Records: Request Military Service Records | National Archives.

    For the latest information about North Carolina’s recovery, visit fema.gov/disaster/4827. Follow FEMA on X at x.com/femaregion4 or on Facebook at facebook.com/fema.

    barbara.murien…

    MIL OSI USA News –

  • MIL-OSI USA: Welch Joins Legislation to Build and Renovate Homes for Working Families

    US Senate News:

    Source: United States Senator Peter Welch (D-Vermont)
    WASHINGTON, D.C. — Senator Peter Welch (D-Vt.) joined Senators Martin Heinrich (D-N.M.), Ron Wyden (D-Ore.), and Chris Van Hollen (D-Md.) in introducing the New Homes Tax Credit Act, legislation that will provide tax credits to incentivize new investments and additional resources for home construction and renovations for working families. The New Homes Tax Credit Act will address the lack of housing inventory for individuals and families whose incomes are below 120% of the area median income (AMI), particularly including in areas where middle-income families have historically been priced out. In Burlington, Montpelier, and Rutland this added housing inventory would benefit families with annual combined incomes of up to $142,680, $126,480, and $114,000, respectively. 
    “The housing shortage crisis has been brutal for communities across the country. In Vermont, we’ll need at least 30,000 more homes by 2030. We must find new and innovative ways to encourage new construction and renovations of starter homes for lower and moderate-income communities,” said Senator Welch. “Everyone deserves to have a safe and affordable place to live.”  
    “Every New Mexican who’s looked at buying a home knows: housing prices are too high. To solve that, we need to build and renovate more homes. It’s that simple,” said Senator Heinrich. “My New Homes Tax Credit Act will help boost home construction and renovation for middle-income New Mexicans, growing our local economies and giving more working families a shot at success.”  
    “Democrats are focused on attacking the cost of living, and with rents and home prices climbing every year, the key to solving our housing crisis is to build, build, build. That’s what this bill is all about,” said Senator Wyden. “The housing crisis is no longer just about big cities like Portland, it’s all over Oregon and the entire country – urban centers, suburban communities, even a lot of rural areas. Congress needs to look at every available solution that’ll get more housing built so that families don’t have to break the bank to pay the rent every month.”  
    The New Homes Tax Credit (NHTC) would be administered under the Community Development Financial Institutions (CDFI) Fund. The CDFI Fund certifies Housing Development Entities, which can be CDFIs, government and quasi-governmental entities, or non-profits. Following certification, Housing Development Entities will use the capital raised from exchanging their NHTC with investors to provide funds for construction companies that build or renovate single-family homes.   
    The New Homes Tax Credit Act is supported by the Mortgage Bankers Association, National Association of Home Builders, National Association of Realtors, Homewise, Yes Housing, Inc., Housing New Mexico, and Strong Towns Albuquerque.   
    “With a nationwide shortage of roughly 1.5 million housing units, we must increase the supply of housing to ease the nation’s housing affordability crisis,” said Carl Harris, Chairman of the National Association of Home Builders. “NAHB is pleased to support the Affordable Housing Expansion Tax Credit, which would create a new federal program to help finance the construction or renovation of affordable, entry-level housing. With nearly half of U.S. households unable to afford a $250,000 home, we must adopt policies to make homeownership more accessible and increase production of entry-level housing.”  
    Learn more about the New Homes Tax Credit Act.  
    Access a tool to determine the area medium income across the country here. 
    Read the full text of the bill.  

    MIL OSI USA News –

  • MIL-OSI Security: Drug Trafficker Sentenced to 46 Months in Prison for Fentanyl Distribution and Money Laundering

    Source: Federal Bureau of Investigation (FBI) State Crime News

    Second Defendant Sentenced to 16 Months in Prison for Laundering Drug Proceeds Disguised As International Wire Transfers

    OAKLAND – Christian Grajeda-Varela, a Honduran national who pleaded guilty to fentanyl trafficking and money laundering, was sentenced to 46 months in federal prison.  The sentence was handed down by the Hon. Haywood S. Gilliam, Jr., United States District Judge.

    Grajeda-Varela, 25, was charged by indictment on Aug. 2, 2023, and superseding information on July 15, 2024.  He pleaded guilty on July 17, 2024 to distribution of 40 grams or more of fentanyl and to conspiracy to launder monetary instruments.

    In his plea agreement, Grajeda-Varela admitted that he sold roughly 1.5 pounds of fentanyl in July 2023 to a drug dealer in the Tenderloin neighborhood of San Francisco.  Upon a search of his Oakland residence, federal agents found 109 grams of fentanyl, over six pounds of mannitol (a common mixing agent used to cut or dilute fentanyl), cocaine base, cocaine, and heroin.  Agents also found a kilogram press, cutting boards, and tools to cut drugs, supplies that Grajeda-Varela admitted using to dilute and assist with the distribution of drugs.

    As described in court documents, multiple WhatsApp messages were found on Grajeda-Varela’s phone containing international wire transfer receipts sent from America Latina, a money service business in Oakland.  Grajeda-Varela admitted that, between March and August 2022, he agreed with someone he suspected was involved in the drug trade to commit money laundering by bringing large amounts of cash to America Latina.  Specifically, Grajeda-Varela brought over $235,000 in cash to America Latina for the business to wire to recipients in Mexico and Honduras in the form of roughly 125 international wires.  According to the plea agreement, each of these international wires was structured and transmitted in an amount below $3,000 to avoid mandatory customer information reporting requirements under federal law.

    Grajeda-Varela admitted that he exchanged WhatsApp messages with a woman named “Griselda” who generally accepted the bulk cash he brought in and conducted the international wires for him at America Latina, and that receipts for wires America Latina sent between March and August 2022 were found on his phone as well as on the phone of Griselda Cancelada Liceaga, who owned America Latina.

    Grajeda-Varela further admitted that he knew that the owners of America Latina were structuring the bulk cash into wires of less than $3,000 each that were sent under the names of uninvolved persons to make it appear that each wire was an unrelated family/friend remittance.

    In a separately charged case, Griselda Cancelada Liceaga, 45, of Oakland, was sentenced to 16 months in federal prison.  Liceaga’s sentence was handed down by the Hon. Jeffrey S. White, Senior United States District Judge.

    Liceaga was charged by criminal complaint on Aug. 30, 2022, and pleaded guilty to money laundering conspiracy on May 28, 2024.  According to her plea agreement, while at her money service business America Latina, Liceaga sent multiple international wire receipts via WhatsApp between March and August 2022 to an individual arrested and prosecuted for drug trafficking.  She further admitted to using the names of unrelated persons as the wire senders and did so with the intent to evade the $3,000 transaction reporting requirement under federal law.

    According to her plea agreement, Liceaga was familiar with the reporting requirement because she had received anti-money laundering training from the national wire service companies whose wire services she used.  Liceaga further admitted that prior to opening America Latina, she had worked at another Oakland money service business, Rincon Musical, where she and her co-workers agreed to structure large cash amounts into wire transactions that were each less than $3,000 that they sent out under the names of unrelated persons.

    “We are committed to working with our law enforcement partners to use all tools at our disposal to combat the drug trade in the Northern District of California and beyond,” said United States Attorney Ismail J. Ramsey. “Along with drug traffickers, individuals who engage in and enable the laundering of drug proceeds will be held accountable.”

    “Dismantling the profitability of deadly drug trafficking in our communities makes our streets safer and is a core capability of IRS-CI Special Agents. These sentencings highlight the effectiveness of Organized Crime Drug Enforcement Task Force investigations and the relentlessness in which we pursue those perpetuating the lethal drug epidemic,” said IRS Criminal Investigation (IRS-CI) Oakland Field Office Acting Special Agent in Charge Michael Mosley. “Our Special Agents follow the money. When the money leads us to transnational criminal organizations, we build cases that take those criminals off the streets and puts them behind bars.”

    “This decisive action, taken in collaboration with our law enforcement partners, disrupts the flow of dangerous drugs and eliminates the financial networks that make this crime possible,” said Federal Bureau of Investigation (FBI) Special Agent in Charge Robert Tripp.  “Those who choose to profit from poisoning our communities and endanger public safety will be held accountable. We remain resolute in our mission to dismantle these threats and ensure that justice is served.”

    “The cartels would be out of business without drug distributors and money launderers. Christian Grajeda-Varela and Griselda Cancelada Liceaga blatantly violated the law to line their pockets with ill-gotten gains,” said Drug Enforcement Administration (DEA) Special Agent in Charge Bob P. Beris. “We will be relentless in our pursuit of those who put poison in our community and skirt the law by structuring payments of drug proceeds.”

    The announcements were made by United States Attorney Ismail J. Ramsey, IRS-CI Oakland Field Office Acting Special Agent in Charge Michael Mosley, FBI Special Agent in Charge Robert Tripp, and DEA Special Agent in Charge Bob P. Beris.

    These prosecutions are part of Organized Crime Drug Enforcement Task Force (OCDETF) investigations. OCDETF identifies, disrupts, and dismantles the highest-level drug traffickers, money launderers, gangs, and transnational criminal organizations that threaten the United States by using a prosecutor-led, intelligence-driven, multi-agency approach that leverages the strengths of federal, state, and local law enforcement agencies against criminal networks.

    Assistant United States Attorneys Charles Bisesto and Daniel Pastor prosecuted these cases with assistance from Amanda Martinez and Andy Ding. The prosecution of Grajeda-Varela is the result of an investigation by the FBI and IRS-CI with assistance from the DEA and the Concord Police Department.  The prosecution of Cancelada Liceaga is the result of an investigation by IRS-CI and DEA with assistance from the Oakland Police Department.
     

    MIL Security OSI –

  • MIL-OSI Global: Despite progress on poverty, Mexico’s first female president inherits a shaky economy

    Source: The Conversation – UK – By Nicolas Forsans, Professor of Management and Co-director of the Centre for Latin American & Caribbean Studies, University of Essex

    shutterstock Octavio Hoyos/Shutterstock

    Mexico’s first female president, leftwing academic and climate scientist Claudia Sheinbaum, has set out her agenda. She pledged to maintain the social policies of her mentor and predecessor, the widely popular former president Andrés Manuel López Obrador (commonly known by his initials, AMLO).

    She promised a transition to green energy, and set out the need for new infrastructure in railways, ports and airports. Sheinbaum inherits a US$1.79 trillion (£1.4 trillion) economy closely integrated to that of the US – in fact, Mexico has the second-largest economy in Latin America. It is also the most populous Spanish-speaking country in the world with 128 million people.

    But Sheinbaum also inherits Mexico’s largest budget deficit since the 1980s.

    Despite social policies that have seen 9.5 million Mexicans lifted from poverty during AMLO’s six-year term, 36% of Mexicans are still poor and 7% live in extreme poverty. Access to health services remains problematic, and has worsened for those living in deprivation.

    Gross domestic product per capita, a measure of wealth, actually fell during the previous administration, which means the “average” Mexican is worse off now than at the start of AMLO’s presidency. And next year, the central bank estimates GDP will grow by only 1.2%, which will inevitably constrain Sheinbaum in her early years in office.

    While campaigning, she promised to continue the social and political policies of her predecessor. Now in office, she will not only grapple with the country’s security situation but also navigate serious economic and fiscal challenges.



    Read more:
    As Mexico’s new president takes office, a renewed battle to contain cartel violence begins

    In 2018, AMLO took office in a relatively stable fiscal environment. His predecessor, Enrique Peña Nieto, had implemented significant reforms early in his term aimed at reducing reliance on oil revenues and energy subsidies.

    Nieto also sought to strengthen the country’s two stabilisation funds. The Oil Revenue Stabilisation Fund is aimed at protecting Mexico’s budget from fluctuations in oil revenues. Meanwhile, the Budget Income Stabilisation Fund seeks to stabilise budget revenues from non-oil sources, such as taxes.

    These funds have been crucial for maintaining economic stability given the volatility of commodity prices, especially since oil has historically been a key contributor to Mexico’s public finances. However, under AMLO’s administration, both funds were used to plug gaps, leaving them depleted and raising concerns about the country’s ability to weather economic downturns. The country has not balanced its books since 2007.

    High energy subsidies introduced in 2019 are putting a strain on public finances. Driven by a commitment by AMLO to shield consumers from rising international oil prices, subsidies increased as a result of the COVID pandemic in 2020, and again in 2022 amid the war in Ukraine.

    The recent rise in social spending to fund universal state pensions, social programmes and debt servicing has created considerable strain, pushing the deficit close to 6% of GDP. Mexico’s debt-to-GDP ratio is 50% this year, up from its 2018 level.

    The tax issue

    In most countries, tax revenues are used to fund social investment. But Mexico’s ability to raise taxes has been extremely limited – tax revenues amount to just 17% of the country’s GDP, below the Latin American average of 22%, and well below that of countries in the Organisation for Economic Co-operation and Development (OECD) at 34%.

    Mexico has a large informal economy, with many workers and businesses not registered with tax authorities. Corruption, inefficiencies in tax administration and lack of trust in government institutions have led to low tax compliance, while efforts to increase taxes on the wealthy have met political resistance.

    Mexico has high levels of income inequality, and the wealthiest segments of society contribute relatively little to the overall tax revenue. Instead, the country had historically relied on oil revenues – which have declined – to fund public services and investment.

    AMLO had launched popular social programmes aimed at reducing poverty and inequalities. Now Sheinbaum has promised increased social spending while maintaining “fiscal responsibility” and not reforming tax (at least in her early presidency). That promise seems unrealistic. Without a change of approach, a fiscal crisis looms.

    However, she is expected to be a more pragmatic president than her predecessor. In part because she is less ideology-driven, but also because she won’t have a choice. If she wants to boost the economy and keep reducing poverty, she will need to attract foreign investment and encourage the private sector to play a much bigger role.

    Infrastructure will be a key focus, not least to ensure Mexico can benefit from the process of “near-shoring” – the relocation by multinationals of key processes away from Asia closer to the US market in order to minimise supply chain disruptions.

    Mexico stands to gain from the current desire by many companies to operate closer to the USA. As a result of the US-Mexico-Canada Agreement (USMCA), and its predecessor Nafta (North American Free Trade Agreement), Mexico enjoys tariff-free trade with its northern neighbours.

    But the country has not fully benefited from those opportunities. It lacks a consolidated investment promotion strategy and needs to produce more energy, ensuring it is from cleaner sources.

    It’s expected that Sheinbaum will continue government efforts to lift disadvantaged Mexicans out of poverty.

    Companies keen to invest in Mexico need access to low-emission hydrocarbons, as well as renewable energy. But AMLO viewed oil as a key part of Mexico’s sovereignty, eradicating previous reforms that had opened up the energy sector to private companies and preventing private investment in renewable energy. Instead, public finances were used to prop up ailing state-owned oil monopoly Pemex and national electricity company CFE.

    Given the fiscal challenges Sheinbaum inherits, Mexicans can expect the private sector to play a much greater role in infrastructure investment and in making the green energy transition a reality.

    As mayor of Mexico City, she championed public-private partnerships (PPP) while promoting solar energy. But to entice factories from Asia, she will also have to weaken the grip of the criminal organisations which are believed to control as much as a third of Mexico.

    During her tenure as mayor she halved the number of murders in the capital. But attempting to replicate this success throughout the country will be no small undertaking.

    Nicolas Forsans does not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.

    – ref. Despite progress on poverty, Mexico’s first female president inherits a shaky economy – https://theconversation.com/despite-progress-on-poverty-mexicos-first-female-president-inherits-a-shaky-economy-240136

    MIL OSI – Global Reports –

  • MIL-OSI USA: NASA Terminal Transmits First Laser Communications Uplink to Space 

    Source: NASA

    NASA’s LCOT (Low-Cost Optical Terminal), a ground station made of modified commercial hardware, transmitted its first laser communications uplink to the TBIRD (TeraByte Infrared Delivery), a tissue box-sized payload formerly in low Earth orbit.
    During the first live sky test, NASA’s LCOT produced enough uplink intensity for the TBIRD payload to identify the laser beacon, connect, and maintain a connection to the ground station for over three minutes. This successful test marks an important achievement for laser communications: connecting LCOT’s laser beacon from Earth to TBIRD required one milliradian of pointing accuracy, the equivalent of hitting a three-foot target from over eight American football fields away.
    The test was one of many laser communications achievements TBIRD made possible during its successful, two-year mission. Prior to its mission completion on Sept. 15, 2024, the payload transmitted at a record-breaking 200 gigabits per second. In an actual use case, TBIRD’s three-minute connection time with LCOT would be sufficient to return over five terabytes of critical science data, the equivalent of over 2,500 hours of high-definition video in a single pass. As the LCOT sky test demonstrates, the ultra-high-speed capabilities of laser communications will allow science missions to maintain their connection to Earth as they travel farther than ever before.

    NASA’s SCaN (Space Communications and Navigation) program office is implementing laser communications technology in various orbits, including the upcoming Artemis II mission, to demonstrate its potential impact in the agency’s mission to explore, innovate, and inspire discovery.
    “Optical, or laser, communications can transfer 10 to 100 times more data than radio frequency waves,” said Kevin Coggins, deputy associate administrator and SCaN program manager. “Literally, it’s the wave of the future, as it’ll enable scientists to realize an ever-increasing amount of data from their missions and will serve as our critical lifeline for astronauts traveling to and from Mars.” 

    Historically, space missions have used radio frequencies to send data to and from space, but with science instruments capturing more data, communications assets must meet increasing demand. The infrared light used for laser communications transmits the data at a shorter wavelength than radio, meaning ground stations on Earth can send and receive more data per second. 
    The LCOT team continues to refine pointing capabilities through additional tests with NASA’s LCRD (Laser Communications Relay Demonstration). As LCOT and the agency’s other laser communications missions continue to reach new milestones in connectivity and accessibility, they demonstrate laser communications’ potential to revolutionize scientists’ access to new data about Earth, our solar system, and beyond. 
    “It’s a testament to the hard work and skill of the entire team,” said Dr. Haleh Safavi, project lead for LCOT. “We work with very complicated and sensitive transmission equipment that must be installed with incredible precision. These results required expeditious planning and execution at every level.” 

    Experiments like TBIRD and LCRD are only two of SCaN’s multiple in-space demonstrations of laser communications, but a robust laser communications network relies on easily reconfigurable ground stations on Earth. The LCOT ground station showcases how the government and aerospace industry can build and deploy flexible laser communications ground stations to meet the needs of a wide variety of NASA and commercial missions, and how these ground stations open new doors for communications technology and extremely high data volume transmission. 
    NASA’s LCOT is developed by the agency’s Goddard Space Flight Center in Greenbelt, Maryland. TBIRD was developed in partnership with the Massachusetts Institute of Technology Lincoln Laboratory (MIT-LL) in Lexington. TBIRD was flown and operated as a collaborative effort among NASA Goddard; NASA’s Ames Research Center in California’s Silicon Valley; NASA’s Jet Propulsion Laboratory in Southern California; MIT-LL; and Terran Orbital Corporation in Irvine, California. Funding and oversight for LCOT and other laser communications demonstrations comes from the (SCaN) Space Communications and Navigation  program office within the Space Operations Mission Directorate at NASA Headquarters in Washington. 

    MIL OSI USA News –

  • MIL-OSI Security: Connecticut Real Estate Agent Sentenced to Prison for Defrauding Clients in Long Running Short Sale Fraud Scheme

    Source: Federal Bureau of Investigation (FBI) State Crime Alerts (b)

    BOSTON – A real estate agent was sentenced today in federal court in Boston in connection with a multi-year scheme to defraud his clients by engaging in fraudulent short sales of government and bank-owned properties to straw buyers acting at the direction of the defendant and a co-conspirator.

    Sheldon Haag, 34, of Glastonbury, Conn. was sentenced by U.S. District Court Judge Leo T. Sorokin to one year and one day in prison and two years of supervised release. Haag was also ordered to forfeit $277,331 and to pay restitution in an amount to be determined at a later date. In June2023, Haag pleaded guilty to one count of conspiracy to commit wire fraud.

    Haag and another real estate agent, James Macchio, used straw buyers to acquire properties owned by the clients of a brokerage where they worked, which included banks, federal agencies, bankruptcy trustees and other mortgage holders. The straw buyers included a shell company set up by a co-conspirator as a purported construction company. Haag and his co-conspirators hid their involvement as the de facto buyers of short sale properties from their clients, the owners of the properties, and used their inside knowledge as the owner’s broker to minimize sale prices in order to maximize their gain from later “flipping” the properties.

    While perpetrating the “flipping scheme,” Haag and his co-conspirators further defrauded clients by submitting fraudulent renovation bids from contractors to their own clients, including from the fake construction company they controlled through a co-conspirator. Once their clients accepted a fraudulent bid, Haag and his co-conspirators would hire different contractors at much lower cost and pocket the difference between the fraudulent bid and the actual cost of property repairs.

    Macchio pleaded guilty in May 2024 and is scheduled to be sentenced on Nov. 19, 2024.

    Acting United States Attorney Joshua S. Levy; Jodi Cohen, Special Agent in Charge of the Federal Bureau of Investigation, Boston Division; Harry Chavis, Jr., Special Agent in Charge of the Internal Revenue Service Criminal Investigation, Boston Field Office; and Christopher Algieri, Special Agent in Charge of the U.S. Department of Veterans Affairs, Office of Inspector General, Northeast Field Office made the announcement today. The United States Department of Housing and Urban Development provided valuable assistance. Assistant U.S. Attorney Kriss Basil of the Securities, Financial & Cyber Fraud Unit prosecuted the case.

    MIL Security OSI –

  • MIL-OSI Asia-Pac: “Indian Telecom Services Performance Indicator Report” for the Quarter April-June, 2024

    Source: Government of India

    Ministry of Communications

    “Indian Telecom Services Performance Indicator Report” for the Quarter April-June, 2024

    Posted On: 09 OCT 2024 5:36PM by PIB Delhi

    TRAI today has released the “Indian Telecom Services Performance Indicator Report” for the Quarter ending 30th June, 2024. This Report provides a broad perspective of the Telecom Services in India and presents the key parameters and growth trends of the Telecom Services as well as Cable TV, DTH & Radio Broadcasting services in India for the period covering 1st April, 2024 to 30th June, 2024 compiled mainly on the basis of information furnished by the Service Providers.

    Executive Summary of the Report is enclosed. The complete Report is available on TRAI’s website (http://www.trai.gov.in and under the link http://www. trai.gov.in/release-publication/reports/performance-indicators-reports). Any suggestion or any clarification pertaining to this report, Shri Amit Sharma, Advisor (F&EA), TRAI may be contacted on Tel. +91-20907772 and e-mail: advfea2@trai.gov.in.

    *****

    SB/DP/ARJ

     

    The Indian Telecom Services Performance Indicators

    April–June, 2024

    Executive Summary

     

    1. Total number of Internet subscribers increased from 954.40 million at the end of Mar-24 to 969.60 million at the end of Jun-24, registering a quarterly rate of growth 1.59%. Out of 969.60 million internet subscribers, number of Wired Internet subscribers are 42.04 million and number of Wireless Internet subscribers are 927.56 million.

    Composition of internet subscription

    1. The Internet subscriber base is comprised of Broadband Internet subscriber base of 940.75 million and Narrowband Internet subscriber base of 28.85 million.
    2. The broadband Internet subscriber base increased by 1.81% from 924.07 million at the end of Mar-24 to 940.75 million at the end of Jun-24. The narrowband Internet subscriber base decreased from 30.34 million at the end of Mar-24 to 28.85 million at the end of Jun-24.
    1. Wireline subscribers increased from 33.79 million at the end of Mar-24 to 35.11 million at the end of Jun-24 with a quarterly rate of growth 3.90% and, on Y-O-Y basis, wireline subscriptions also increased by 15.81% at the end of QE Jun-24.
    2. Wireline Tele-density increased from 2.41% at the end of Mar-24 to 2.50% at the end of Jun-24 with quarterly rate of growth 3.67%.
    3. Monthly Average Revenue per User (ARPU) for wireless service increased by 2.55%, from Rs.153.54 in QE Mar-24 to Rs.157.45 in QE Jun-24. On Y-O-Y basis, monthly ARPU for wireless service increased by 8.11% in this quarter.
    1. Prepaid ARPU per month increased from Rs.150.74 in QE Mar-24 to Rs.154.80 in QE Jun-24 and Postpaid ARPU per month also increased from Rs.187.85 in QE Mar-24 to Rs.189.17 in QE Jun-24.                               
    2. On an all-India average, the overall MOU per subscriber per month decreased by 2.16% from 995 in Q.E. Mar-2024 to 974 in Q.E. Jun-2024. 
    1. Prepaid MOU per subscriber is 1010 and Postpaid MOU per subscriber per month is 539 in QE Jun-24.
    1. Gross Revenue (GR), Applicable Gross Revenue (ApGR) and Adjusted Gross Revenue (AGR) of Telecom Service Sector for the Q.E. Jun-24 has been Rs.86,031 Crore, Rs.83,087 crore and Rs.70,555 Crore respectively.  GR decreased by 2.16%, ApGR decreased by 1.02% and AGR increased by 0.13% in Q.E. Jun-24, as compared to previous quarter. 
    1. The Y-O-Y rate of growth in GR, ApGR and AGR in Q.E. Jun-24 over the same quarter in last year has been 6.34%, 6.05% and 7.51% respectively.
    1. Pass Through Charges decreased from Rs.13,482 Crore in QE Mar-24 to Rs.12,561 Crore in QE Jun-24 with quarterly rate of decline 6.84%. The Y-O-Y rate of decline 4.99% has been recorded in pass-through charges for QE Jun-24.
    2. The License Fee increased from Rs.5,637 Crore for the QE Mar-24 to Rs.5,645 Crore for the QE Jun-24. The quarterly and the  Y-O-Y rates of growth in license fees are 0.14% and 7.62% respectively in this quarter.  

    Service-wise composition of Adjusted Gross Revenue

    1. Access services contributed 82.40% of the total Adjusted Gross Revenue of telecom services. In Access services, Gross Revenue (GR), Applicable Gross Revenue (ApGR), Adjusted Gross Revenue (AGR), License Fee, Spectrum Usage Charges (SUC) and Pass Through Charges increased by -0.69%, 1.32%, 2.83%, 2.81%, 0.35% and -6.93% respectively in QE Jun-24.
    2. The number of telephone subscribers in India increased from 1,199.28 million at the end of Mar-24 to 1,205.64 million at the end of Jun-24, registering a rate of growth 0.53% over the previous quarter. This reflects Year-On-Year (Y-O-Y) rate of growth 2.70% over the same quarter of the last year. The overall Tele-density in India increased from 85.69% as in QE Mar-24 to 85.95% as in QE Jun-24.

    Trends in Telephone subscribers and Tele-density in India

    1. Telephone subscribers in Urban areas increased from 665.38 million at the end of Mar-24 to 667.13 million at the end of Jun-24 however Urban Tele-density decreased from 133.72% to 133.46% during the same period.
    2. Rural telephone subscribers increased from 533.90 million at the end of Mar-24 to 538.51 million at the end of Jun-24 and Rural Tele-density also increased from 59.19% to 59.65% during the same period.
    1. Out of the total subscription, the share of Rural subscription increased from 44.52% at the end of Mar-24 to 44.67% at the end of Jun-24.

    Composition of Telephone Subscribers

       

    1. With a net increase of 5.04 million subscribers during the quarter, the total wireless subscriber base increased from 1,165.49 million at the end of Mar-24 to 1,170.53 million at the end of Jun-24, registering a rate of growth 0.43% over the previous quarter. On Y-O-Y basis, wireless subscriptions also increased at the rate of 2.36% during the year.  
    2. Wireless Tele-density increased from 83.27% at the end of Mar-24 to 83.45% at the end of Jun-24 with quarterly rate of growth  0.21%.
    3. During this quarter, the following parameters in terms of QoS benchmarks have been fully complied by wireline service providers: –
      1. Fault incidences (No. of faults per 100 subs/month) (≤ 7)
      2. % Fault repaired by next working day (for rural and hilly areas) (≥ 75%)
      3. % Fault repaired within 7 days (for rural and hilly areas) (100%)
      4. Point of Interconnection (POI) Congestion (No. of PoIs not meeting benchmark) (≤ 0.5%)
      5. Metering and billing credibility- post-paid (≤ 0.1%)
      6. Metering and billing credibility- pre-paid (≤ 0.1%)
      7. Resolution of billing/charging/credit & validity complaints within 4 weeks (98% within 4 weeks)
      8. Resolution of billing/charging/credit & validity complaints within 6 weeks (100% within 6 weeks)
      9. Period of applying credit/waiver/adjustment to customer’s account from the date of resolution of complaints (100% within 1 week of resolution of complaint)
      10. Accessibility of call centre/ customer care (≥ 95%)
    5. The following parameters have shown improvement, as compared to the previous quarter, in QoS by wireline service providers: –
      1. Accessibility of call centre/ customer care ≥ 95%
      2. %age of calls answered by the operators (voice to voice) within ninety seconds ≥ 95%
    7. During this quarter, list of Parameters which are fully complied, as compared to the previous quarter, by all the Cellular Mobile service providers: –

     

    1. Call Set-up Success Rate and Session Establishment Success Rate for Circuit Switched Voice or VoLTE as applicable (within licensee’s own network) ≥ 95%
    2. Network QoS DCR Spatial Distribution Measure [Network_ QSD (90,90)] ≤ 2%
    3. Network QoS DCR Temporal Distribution Measure [Network_ QTD (97,90)] ≤ 3%
    4. Connections with good voice quality, Circuit Switched Voice Quality and VoLTE quality ≥ 95%
    5. Down Link (DL) Packet Drop Rate or DL-PDR ≤ 2%
    6. Up Link (UL) Packet Drop Rate or UL-PDR ≤ 2%
    7. Point of Interconnection (POI) Congestion (No. of POIs not meeting the benchmark) ≤ 0.5%
    8. Metering and billing credibility – postpaid ≤ 0.1%
    9. Metering and billing credibility – prepaid ≤ 0.1%
    10. Resolution of billing/charging/validity complaints – 98% within 4 weeks
    11. Resolution of billing/charging/validity complaints – 100% within 6 weeks
    12. Accessibility of call centre/ customer care ≥ 95%
    13. Termination / Closure of service < 7 days
    14. Time taken for refund of deposits after closures (100% within 60 days)

     

    1. The following parameters have shown deterioration, as compared to the previous quarter, in QoS by Cellular Mobile service providers: –

     

    1. BS Accumulated downtime (not available for service) (%age) <=2%
    2. Worst affected BSs due to downtime (%age) <=2%
    3. SDCCH/ Paging Channel Congestion/ RRC Congestion (%age) <=1%
    4. TCH, RAB and E-RAB Congestion (%age) <=2%
    5. Period of applying credit/ waiver/ adjustment to customer’s account from the date of resolution of complaints – 100% within 1 week of resolution of complaint
    6. Percentage of calls answered by the operators (voice to voice) within ninety seconds ≥ 95%

     

    1. A total of approximately 912 private satellite TV channels have been permitted by the Ministry of Information and Broadcasting (MIB) for uplinking only/downlinking only/both uplinking & downlinking.  
    1. As per the reporting done by broadcasters in pursuance of the Tariff Order dated 3rd March 2017, as amended, out of 902 permitted satellite TV channels which are available for downlinking in India, there are 362 satellite pay TV channels as on 30th June, 2024. Out of 362 pay channels, 259 are SD satellite pay TV channels and 103 are HD satellite pay TV channels.  
    2. During the QE 30th June 2024, there were 4 pay DTH service providers in the country.
    1. Pay DTH has attained total active subscriber base of around 62.17 million. This is in addition to the subscribers of the DD Free Dish (free DTH services of Doordarshan). The total active subscriber base has increased from 61.97 million in March 2024 to 62.17 million in June 2024.
    2. Apart from the radio channels operated by All India Radio – the public broadcaster, as per the data reported by FM Radio operators to TRAI, as on 30th June 2024, there are 388 operational private FM Radio channels in 113 cities operated by 36 private FM Radio operators. As compared to the previous quarter, there is no change in the number of operational private FM Radio channels, cities and FM Radio operators.
    1. The advertisement revenue reported by FM Radio operators during the quarter ending 30th June 2024 in respect of 388 private FM Radio channels is Rs.428.45 crore as against Rs.491.98 crore in respect of 388 private FM Radio channels for the previous quarter. 
    1. As on 30th June, 2024, 499 Community Radio stations are operational.

    SNAPSHOT

    (Data as on Q.E. 30th June, 2024)

    Telecom Subscribers (Wireless+Wireline)

    Total Subscribers

    1,205.64 Million

    % change over the previous quarter

    0.53%

    Urban Subscribers

    667.13 Million

    Rural Subscribers

    538.51 Million

    Market share of Private Operators

    91.97%

    Market share of PSU Operators

    8.03%

    Tele-density

    85.95%

    Urban Tele-density

    133.46%

    Rural Tele-density

    59.65%

    Wireless Subscribers

    Total Wireless Subscribers

    1,170.53 Million

    % change over the previous quarter

    0.43%

    Urban Subscribers

    635 Million

    Rural Subscribers

    535.53 Million

    Market share of Private Operators

    92.51%

    Market share of PSU Operators

    7.49%

    Tele-density

    83.45%

    Urban Tele-density

    127.03%

    Rural Tele-density

    59.32%

    Total Wireless Data Usage during the quarter

    56,183 PB

    Number of Public Mobile Radio Trunk Services (PMRTS)

    65,223

    Number of Very Small Aperture Terminals (VSAT)

    2,51,840

    Wireline Subscribers

    Total Wireline Subscribers

    35.11 Million

    % change over the previous quarter

    3.90%

    Urban Subscribers

    32.13 Million

    Rural Subscribers

    2.98 Million

    Market share of PSU Operators

    26.08%

    Market share of Private Operators

    73.92%

    Tele-density

    2.50%

    Rural Tele-density

    0.33%

    Urban Tele-density

    6.43%

    No. of Village Public Telephones (VPT)

                68,606

     

    No. of Public Call Office (PCO)

             16,958

     

    Telecom Financial Data

    Gross Revenue (GR) during the quarter

    Rs. 86,031/- crore

    % change in GR over the previous quarter

    -2.16%

    Applicable Gross Revenue (ApGR) during quarter

    Rs. 83,087/- crore

    % change in ApGR over the previous quarter

    -1.02%

    Adjusted Gross Revenue (AGR) during the quarter

    Rs.70,555/- crore

    % change in AGR over the previous quarter

    0.13%

    Share of Public sector undertakings in Access AGR

    3.53%
     

    Internet/Broadband Subscribers

    Total Internet Subscribers

    969.60 Million

    % change over previous quarter

    1.59%

    Narrowband subscribers

    28.85 Million

    Broadband subscribers

    940.75 Million

    Wired Internet Subscribers

    42.04 Million

    Wireless Internet Subscribers

    927.56 Million

    Urban Internet Subscribers

    562.27 Million

    Rural Internet Subscribers

    407.33 Million

     

    M

    Total Internet Subscribers per 100 population

    69.12

    Urban Internet Subscribers per 100 population

    112.48

    Rural Internet Subscribers per 100 population

    45.12

    Total Outgoing Minutes of Usage for Internet Telephony

    87.01 Million

    No. of Public Wi-Fi Hotspots

    1,64,909

    Aggregate Data Consumed (TB) for Public Wi-Fi Hotspots during the quarter

    13,094

    Broadcasting & Cable Services

    Number of private satellite TV channels permitted by the Ministry of I&B for uplinking only/downlinking only/both uplinking and downlinking

    902

    Number of Pay TV Channels as reported by broadcasters

    362

    Number of private FM Radio Stations (excluding All India Radio)

    388

    Number of total active subscribers with pay DTH operators

    62.17 Million

    Number of Operational Community Radio Stations

    499

    Number of pay DTH Operators

    4

    Revenue & Usage Parameters

    Monthly ARPU of Wireless Service

    Rs.157.45

    Minutes of Usage (MOU) per subscriber per month – Wireless Service

    974

    Wireless Data Usage

    Average Wireless Data Usage per wireless data subscriber per month

    21.30 GB

    Average revenue realization per GB for wireless data usage during the quarter

    Rs.8.31

    (Release ID: 2063567)

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: More than 34.84 lakh audit reports filed on e-filing portal of Income Tax Department upto 7th October, 2024

    Source: Government of India

    More than 34.84 lakh audit reports filed on e-filing portal of Income Tax Department upto 7th October, 2024

    About 34.09 lakh Tax Audit Reports (TARs) filed for AY 2024-25 with Y-o-Y growth of 4.8%

    Posted On: 09 OCT 2024 5:48PM by PIB Delhi

    More than 34.84 lakh audit reports, including about 34.09 lakh Tax Audit Reports (TARs), have been filed for AY 2024-25 on the e-filing portal till the end of the due date. There is an increase in the filing of Tax Audit Reports (TARs) for the AY 2024-25 by around 4.8% compared to the filings of TARs on the due date for AY 2023-24.

    To assist taxpayers, the department conducted extensive outreach programmes through emails, SMSs, webinars, social media campaigns and messages on the Income Tax portal to create and raise awareness among the tax payers about filing TARs and other audit forms by the due date. Various user awareness videos were uploaded on the Income Tax portal to provide guidance. These concerted efforts have been helpful to taxpayers and tax professionals in timely compliance in filing TARs in Form Nos. 10B, 10BB, 3CA-CD, 3CB-CD and other audit reports in Form Nos. 29B, 29C, 10CCB, etc.

    The e-filing Helpdesk team handled around 1.23 lakh queries from taxpayers during September and October 2024, proactively supporting them throughout the filing period. The team assisted taxpayers and tax professionals in resolving complexities and facilitated the smooth submission of audit forms. Helpdesk support was provided through inbound calls, outbound calls, live chats, WebEx, and co-browsing sessions. The team also supported the resolution of queries received on the Department’s X handle (formerly Twitter) through Online Response Management (ORM), by proactively reaching out to taxpayers and stakeholders and providing assistance to them on various issues in near real-time basis.

    ****

    NB/KMN

    (Release ID: 2063573) Visitor Counter : 24

    MIL OSI Asia Pacific News –

  • MIL-OSI USA: H.R. 9711, Congressional Budget Office Scheduling Reform Act

    Source: US Congressional Budget Office

    Categories24/7 OSI, MIL-OSI, United States Government, US Congressional, US Congressional Budget Office

    By Fiscal Year, Millions of Dollars

    2025

    2025-2029

    2025-2034

    Direct Spending (Outlays)

    0

    0

    0

    Revenues

    0

    0

    0

    Increase or Decrease (-) in the Deficit

    0

    0

    0

    Spending Subject to Appropriation (Outlays)

    0

    0

    0

    Increases net direct spending in any of the four consecutive 10-year periods beginning in 2035?

    No

    Statutory pay-as-you-go procedures apply?

    No

    Mandate Effects

    Increases on-budget deficits in any of the four consecutive 10-year periods beginning in 2035?

    No

    Contains intergovernmental mandate?

    No

    Contains private-sector mandate?

    No

    MIL OSI USA News –

  • MIL-OSI USA: Brown Calls on Administration to Provide Disaster Loans to Small Businesses Affected by May Explosion in Downtown Youngstown

    US Senate News:

    Source: United States Senator for Ohio Sherrod Brown

    WASHINGTON, D.C. – Today, U.S. Senator Sherrod Brown (D-OH) called on the Biden Administration to grant Ohio’s request to make Economic Injury Disaster Loans (EIDL) available to Youngstown businesses impacted by the downtown Realty Tower explosion on May 28, 2024.

    In a letter to U.S. Small Business Administration (SBA) Administrator Isabella Casillas Guzman and Associate Administrator Francisco Sánchez Jr., Brown detailed the impact of the explosion on local businesses and urged SBA to provide assistance. The letter follows an official request from the state that was submitted on Monday.

    “While downtown businesses have re-opened, many were significantly impacted and have requested help. Following the May explosion, I heard directly from businesses, workers, and residents who were negatively affected by the explosion. Business owners shared the economic challenges this emergency brought, and I urge you to answer their call for support,” Brown wrote.

    In July, Brown called on the Secretary of the Treasury and the IRS Commissioner to declare that relief payments Youngstown residents received from the Red Cross, the United Way, and Enbridge Gas in connection to the explosion be deemed tax exempt. Brown is pushing the IRS to declare the tragic explosion “of a catastrophic nature,” and qualify the payments as nontaxable. Earlier that week, Brown hosted a roundtable with government officials, businesses, workers and residents of downtown Youngstown who have been negatively affected by the May 28 Realty Tower Explosion. Brown and residents discussed the ongoing recovery efforts.

    Full text of the letter can be found HERE or below.

    Dear Administrator Casillas Guzman and Administrator Sanchez: 

    I write to urge you to act swiftly on the request by Ohio Governor Mike DeWine for the Small Business Administration (SBA) to make Economic Injury Disaster Loans (EIDL) available to Youngstown businesses impacted by the downtown explosion on May 28, 2024. 

    The explosion resulted in one fatality, nine serious injuries, and massive property damage. In addition, the event displaced hundreds of residents from their homes, forced several businesses to close temporarily, and required the demolition of a historic building.

    While downtown businesses have re-opened, many were significantly impacted and have requested help. Following the May explosion, I heard directly from businesses, workers, and residents who were negatively affected by the explosion. Business owners shared the economic challenges this emergency brought, and I urge you to answer their call for support. In his request for SBA EIDL assistance, Governor DeWine has found that the sustained losses to businesses meet the threshold for SBA disaster assistance and that businesses are in need of financial assistance not otherwise available on reasonable terms.

    I fully support Governor DeWine’s request and urge your prompt consideration. Thank you for your attention to this urgent matter. 

    Thank you,

    MIL OSI USA News –

  • MIL-OSI USA: Rep. Gabe Vasquez Touts Good Paying Jobs, Inflation Reduction Act at Array Technologies

    Source: United States House of Representatives – Representative Gabe Vasquez’s (NM-02)

    ALBUQUERQUE, N.M. – Today, October 2, U.S. Representative Gabe Vasquez (N.M.-02) toured Array Technologies and spoke with executives, site leaders and New Mexico’s Energy, Minerals and Natural Resources Department officials about the impact of the Inflation Reduction Act (IRA) on solar manufacturing.

    “New Mexico’s homegrown company, Array Technologies, is creating domestic manufacturing jobs thanks to the Inflation Reduction Act. These jobs are leading the way to securing our domestic energy supply and harnessing the power of our natural resources. Array’s new facility in my district will employ over 300 New Mexicans, powering the growth of the West Mesa,” said Vasquez. “Array’s expansion is expected to inject over $300 million into the local economy over the next decade. This is the kind of economic impact that strengthens our district and keeps families here in New Mexico.” 

    During the roundtable, they discussed plans for the new production facility in the district and how these investments will bring more good-paying jobs to the area. Array Technologies, an Albuquerque-based global leader in solar tracking systems, recently broke ground on a new production facility on Albuquerque’s West Side. 

    The IRA is a game changer for renewable energy. The 45X Advanced Manufacturing Production Tax Credit is directly supporting the growth of solar manufacturing at Array. This credit incentivizes domestic production, which means more investments in local workforces and supply chains. These efforts, along with the strategic investments in solar manufacturing, are part of Vasquez’s broader commitment to ensuring New Mexico remains a hub for renewable energy innovation.

    Once fully operational, Array’s new facility will increase production of solar tracker systems, key elements of utility-scale solar installations. Thanks to the domestic content bonus credit from the IRA, Array is on track to offer 100 percent U.S.-made solar trackers by 2025, strengthening local supply chains and creating more opportunities.

    ###

    MIL OSI USA News –

  • MIL-OSI USA: Congressman Alford Joins Chairman Jason Smith at Ways & Means Event in Kansas City to Prevent the Harris 2025 Tax Hike

    Source: United States House of Representatives – Representative Mark Alford (Missouri 4th District)

    RAYMORE, Mo. – This week, U.S. Congressman Mark Alford (MO-04) joined Ways and Means Committee Chairman Jason Smith (MO-08) and U.S. Congressman Ron Estes (KS-04) to host a roundtable discussion at Superior Linen Supply Company in Kansas City.
     
    During the discussion, the Representatives heard from local business leaders across various industries about how Congress can build on the success of the 2017 Trump tax cuts and prevent the Biden-Harris administration’s promised $7 trillion tax hike next year.
     

    “It was an honor to join Chairman Jason Smith and the Ways and Means Committee for a critical roundtable discussion at Superior Linen Supply Co. in Kansas City. This meeting allowed us to directly speak with local business and insurance leaders, whose firsthand experiences are vital in shaping our legislative efforts. The Tax Cuts and Jobs Act has been a fundamental tool in easing business constraints and cutting taxes. Hearing from the folks who are directly impacted by this key law is critical in providing Congress with real-world insights that guide our decisions as we work on a tax package next year,” said Congressman Alford.
     
    “After more than 100 Tax Teams events in 19 states, one thing is clear – American families, small businesses, and farmers who are already struggling in the Biden-Harris economy cannot afford a tax increase next year. I appreciated the opportunity to meet with local job creators in my home state of Missouri to hear their perspectives on how disastrous the Biden-Harris tax hikes would be and discuss how Congress can build on the success of the Trump tax cuts in 2025 to not only prevent the Democrats’ planned tax increases, but also deliver real relief to workers, families, and businesses,” said Chairman Smith. 
     
    The roundtable in Kansas City is the latest in over a hundred events the Ways and Means Committee Tax Teams have held in communities across the United States to prepare legislative solutions before the expiration of key provisions of President Trump’s signature 2017 tax law.
     

    During the event, Representatives Alford and Estes and Chairman Smith heard directly how vital provisions from the Trump tax cuts, including the Section 199A small business deduction and Opportunity Zones, are to American businesses’ ability to expand, hire new employees, invest in their communities, and grow wages.
     
    Roundtable participants underlined the consequences they will face if the Trump tax cuts’ small business provisions were allowed to expire, which would increase the tax rate paid by small businesses to over 43 percent.
     
    Roundtable attendees included:

    -Superior Linen
    -H&R Block
    -Lockton Companies
    -Xtreme Gymnastics & Motus Ninjas
    -Rieger Distillery
    -Crossland Construction
    -Burns & McDonnell
    -T-Mobile
    -4-State Supply
    -Black & Veatch
    -J.E. Dunn
     
    To learn more about the work of the Ways and Means Committee Tax Teams, click here.

    MIL OSI USA News –

  • MIL-OSI USA: Fuel for Hurricane Milton

    Source: NASA

    As Florida and other southeastern states were reeling from Hurricane Helene’s effects in early October 2024, another tropical threat brewed over the Gulf of Mexico. Hurricane Milton began as a tropical storm on October 5, and by October 7, it had reached Category 5 hurricane strength. Forecasters expect Milton to make landfall late on October 9 in the Tampa Bay area and sweep across central Florida.
    Sea surface temperatures in the Gulf of Mexico—well above average for this time of year—helped fueled the storm’s rapid intensification. Rapid intensification occurs when a tropical cyclone’s maximum sustained wind speeds increase at least 30 knots (35 miles per hour) over a 24-hour period. Milton strengthened at nearly triple that rate, with winds increasing from 80 to 175 miles per hour in 24 hours from October 6–7.
    These maps show sea surface temperatures on October 6, using data from the Short-Term Prediction Research and Transition (SPoRT) project based at NASA’s Marshall Space Flight Center. Surface waters above 82 degrees Fahrenheit (27.8 degrees Celsius)—the temperature generally required to sustain and intensify hurricanes—are dark red. The map on the right is overlaid with brightness temperature data, acquired by the VIIRS (Visible Infrared Imaging Radiometer Suite) on the NOAA-21 satellite in the early morning of October 7, to show the location of Milton’s storm clouds.
    The SPoRT team focuses on improving weather forecasts using satellite data from NASA and NOAA. Its Sea Surface Temperature Composite product, shown here, is a blend of observations from multiple satellite sensors. SPoRT updates this high-resolution composite twice daily, providing global maps of sea surface temperatures, trends, and anomalies to decision-makers. Each update is promptly available to users, which include the National Weather Service, NOAA nowCOAST, and the NASA Disasters Mapping Portal.
    In addition to unusually warm ocean waters, low vertical wind shear aided Milton’s intensification, said Patrick Duran, a hurricane expert with the SPoRT project. The storm is embedded in a low-shear environment, meaning there is little difference in the speed and direction of lower-level and upper-level winds. This allows a hurricane to build vertically.
    Another contributing factor could have been Milton’s relatively small size. Smaller hurricanes are more prone to rapid increases or decreases in strength, Duran noted. “In this case, Milton’s small size likely facilitated its rapid intensification,” he said.

    At 10:28 a.m. EDT October 7, the space station flew over Hurricane Milton and external cameras captured views of the category 5 storm, packing winds of 175 miles an hour, moving across the Gulf of Mexico toward the west coast of Florida. pic.twitter.com/MTtdUosiEc
    — International Space Station (@Space_Station) October 7, 2024

    On the morning of October 8, the hurricane had neared the northern coast of the Yucatan Peninsula, where destructive winds and storm surge were expected. That same morning, the National Hurricane Center reported that Milton underwent an eyewall replacement cycle, an internal storm process often associated with declining wind speeds but growth in the area of the wind field.
    The storm is projected to turn northeast and accelerate toward Tampa Bay, Florida, on October 8 and 9, according to the National Hurricane Center. Forecasters warned of heavy rainfall in the state ahead of the storm’s arrival on land, as well as life-threatening wind and storm surge as it approaches and then crosses the Florida Peninsula. Most counties along the Gulf Coast, which include major population centers such as Tampa and Fort Myers, were under evacuation orders as of October 8.
    As Milton completes its transit of the gulf, fluctuations in strength are likely as the storm structure changes, said the National Hurricane Center. Nonetheless, it will remain an extremely dangerous storm. “Even if the maximum wind speed decreases in the coming days, the storm will likely grow in size,” said Duran. “This could increase its impacts, especially by increasing storm surge along the coast.” The National Weather Service warns of storm surge accompanied by large waves for hundreds of miles along Florida’s gulf coast, with water levels reaching as much as 10–15 feet above the ground around Tampa Bay.
    NASA’s Disasters Response Coordination System has been activated to support agencies responding to the storm, including the Federal Emergency Management Agency (FEMA) and the Florida Geospatial Information Office. The team will be posting maps and data products on its open-access mapping portal as new information becomes available about flooding, power outages, precipitation totals, and other topics.
    NASA Earth Observatory images by Wanmei Liang, using sea surface temperature data from NASA’s Short-Term Prediction Research and Transition (SPoRT) center; VIIRS brightness temperature data from NASA EOSDIS LANCE, GIBS/Worldview, and the Joint Polar Satellite System (JPSS); and hurricane track data from NOAA’s National Hurricane Center. Story by Lindsey Doermann.

    MIL OSI USA News –

  • MIL-OSI: TomTom provides enhanced navigation to IVECO commercial vehicles

    Source: GlobeNewswire (MIL-OSI)

    • TomTom and IVECO renew their multi-year collaboration, with TomTom’s navigation, maps, and traffic data powering IVECO’s commercial vehicles
    • Leveraging TomTom’s expertise, IVECO provides its customers with an enhanced navigation solution to make logistics safer and more efficient

    AMSTERDAM, Oct. 09, 2024 (GLOBE NEWSWIRE) — TomTom (TOM2), the location technology specialist, has been selected by IVECO, a brand of Iveco Group and a market-leading manufacturer of light, medium, and heavy commercial vehicles, to power its navigation solution in vehicles globally.

    IVECO’s new light commercial vehicle Daily, the electric eDaily, and heavy-duty S-Way truck will come equipped with TomTom’s full stack navigation, featuring maps, custom truck routing, real-time traffic information, and connected services. The solution is further enhanced with advanced connectivity, designed to maximize uptime and enable over-the-air updates, ensuring navigation updates, maintenance, and repair operations are efficient and convenient for drivers and operators. The result is a solution that improves routing accuracy, reduces travel times, and enhances the user experience.

    “We’re excited to expand our collaboration with IVECO to develop new solutions that cater to the ever-evolving needs of fleet drivers and operators, and the logistics industry at large,” said Mike Schoofs, Chief Revenue Officer, TomTom. “By providing businesses with seamless access to up-to-date and precise location data, we enable enhanced navigation for fully electric, mixed, or gas-powered fleets to help optimize their activities.”

    “At IVECO, we continually strive to enhance our service offering to provide complete mobility solutions that cater to our customers’ specific needs,” said Lorenzo Marangio, Head of Service Solutions, IVECO. “By leveraging TomTom’s industry-leading maps, navigation software, and traffic insights, we can offer an advanced navigation solution tailored to better optimize fleet deliveries, improve the driver experience, and increase our customer’s overall business productivity.”

    About TomTom: 

    Billions of data points. Millions of sources. Thousands of communities.

    We are the mapmaker bringing it all together to build the world’s smartest map. We provide location data and technology to drivers, carmakers, businesses and developers. Our application-ready maps, routing, real-time traffic, APIs and SDKs empower the dreamers and doers to move our world forward.

    Headquartered in Amsterdam with 3,700 employees around the globe, TomTom has been shaping the future of mobility for over 30 years.

    http://www.tomtom.com

    For further information:

    Media Relations

    mediarelations@tomtom.com

    Investor Relations 

    ir@tomtom.com

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/2e5d7189-7035-4b6e-892b-d8502c756a35

    The MIL Network –

  • MIL-OSI United Kingdom: UK’s world-class film sector handed major jobs and growth boost by tax reliefs

    Source: United Kingdom – Executive Government & Departments

    Film and the creative industries to form key part of government’s mission to grow the economy in all parts of the UK

    • Independent film productions costing up to £15 million to benefit from an increased tax relief of 53%
    • Move will empower UK filmmakers to create more independent films and co-produce with other countries

    The next generation of indie films have been handed a major boost by the government with the introduction of a tax relief uplift, which will create jobs and drive growth by making more British hits like Aftersun and Billy Elliot possible.

    The Independent Film Tax Credit (IFTC), confirmed today by the Chancellor and Culture Secretary as the London Film Festival gets underway, will mean that for the first time productions with a budget up to £15 million will be eligible for a relief of 53% on qualifying expenditure. Films with a budget up to £23.5 million are also eligible for the IFTC and the relief will be tapered.

    The creative industries are a key part of the economy, generating £125 billion a year, and form a central part of the Government’s mission to grow the economy. The UK film sector is already worth £1.36 billion and employs more than 195,000 people, with the potential to grow further thanks to these reliefs.

    British indie films like Rye Lane, Rocks, Bait and Pride tell award-winning stories about our country, celebrating parts of our culture that often get less exposure. This relief will allow more stories like these to be told, enabling more people to see their lives and experiences reflected on screen.

    To support the Government’s commitment on more distinctly home-grown content and talent, for films to meet the criteria for this new relief, they must have a UK writer or director, or be certified as an official UK co-production.

    The announcement comes ahead of the government’s International Investment Summit next Monday which will gather UK leaders, high-profile investors and businesses from across the world to discuss how we can deepen our partnership to drive investment and growth, including in the creative industries.

    The new measures are the latest in a series of interventions from the government to drive growth, which is creating the conditions for confident investment and trusted partnership with business. From major investment in carbon capture to securing billions in investment from Blackstone and Amazon Web Services, this government is committed to working hand in hand with business to drive growth and investment across many sectors.

    Culture Secretary Lisa Nandy said:

    The UK’s first-class independent filmmakers have a track record of creating cult classics and surprise hits that are enjoyed by millions. Their films showcase British culture and creativity to the world while also supporting thousands of jobs and driving economic growth in all parts of the UK.

    These reliefs will pay dividends both culturally and economically, inspire the next generation of talent across the country, deliver more great British content, and sustain a world-leading industry here in the UK.

    Chancellor of the Exchequer, Rachel Reeves, said:

    The creative industries are a crucial part of our economy, and this change will help strengthen them further.

    By supporting growth in this vibrant sector, we can create jobs and continue to show Britain at its best around the world.

    Faye Ward, producer, Rocks, Suffragette, Stan & Ollie, Wild Rose, said:

    We have a tremendous history of filmmaking and talent in Britain. The indie sector is the main pathway for new and original voices and talent to enter into the industry. It’s imperative that we continue telling and making UK stories for which this enhanced tax relief is vital for our industry.

    Amy Jackson, producer of Oscar-nominated Aftersun, The Outfit and The End We Start From, said:

    This is a vital intervention for the UK industry, which I wholeheartedly welcome. Making British indie films is tough, but this enhanced tax relief means that as a producer I now have crucial support to explicitly focus on bringing incredible stories by British talent to the big screen while building out exciting co-production opportunities. The IFTC will make UK indie film a more attractive investment prospect for international partners and co-producers facilitating more creative collaboration and bringing much needed backing to the independent sector across the board.

    BFI Chair Jay Hunt said:

    The speed with which the Government has turned this around shows how vital this intervention is for independent film. It will have a game changing impact across the whole UK screen sector – creatively and economically.

    Ben Roberts, BFI Chief Executive, said: 

    This is great news for UK film and is already having a positive impact across our industry. More films can now be made in the UK that audiences at home and internationally will get to enjoy. Independent filmmaking is vital to our cultural expression and creativity, it builds careers for talent in front of and behind the camera, and also showcases UK creative excellence on a world stage. We’re grateful to Government, the DCMS and the industry for working together to establish this transformative tax relief uplift where it is most needed.

    Andrew M Smith, Corporate Affairs Director, Pinewood Group, said:

    Pinewood is synonymous with great filmmakers of the past and present and independent film has been at our heart since the Studios opened in 1936. This tax relief is fantastic news for the industry as a whole and will bring an injection of support to further nurture the groundbreaking talent of the future and bring a greater diversity and range of stories to our screens.

    Elizabeth Karlsen, producer, Living, Carol, Colette and The Crying Game, said:

    Based on three decades working in independent film in the UK I can say with absolute confidence that this new support for British independent film will be felt far and wide; it will help us nurture new talent, support established talent, and ensure our global reputation for producing outstanding cinema. The creative and economic benefits will be felt through the industry and beyond.” 

    Hakan Kousetta, executive producer, Slow Horses, Hijack and The Essex Serpent, said:  

    Delighted to welcome this vital support for the British independent sector. A thriving independent film sector is a key part of the industry’s ecology. It’s where myself and many others started our careers and is essential if we are to continue to produce some of the world’s best screen talent both behind and in front of the camera.”  

    While the last few years have been challenging, in part because of the end of the pandemic streaming boom and US writers’ strikes halting productions, in recent decades the UK’s film industry has enjoyed strong growth. Tax incentives for film, first introduced in 2007, helped to bring the production of blockbusters to Britain, but the government is ambitious that it can grow further.

    While major film production has flourished, smaller independent films have not received sufficient support. The tax credits uplift announced today will help the independent film sector reach its full potential, creating jobs and contributing to driving economic growth across the country.

    ENDS 

    Notes to editors:

    Productions qualifying for the relief must have started principal photography on or after 1 April 2024, and only expenditure incurred on or after 1 April 2024 can be claimed.

    The statutory instruments will be laid on 9 October and will take effect from 30 October, which is the date from which the BFI certification unit can begin accepting applications.

    Updates to this page

    Published 9 October 2024

    MIL OSI United Kingdom –

  • MIL-Evening Report: Why did Japan’s new leader trigger snap elections only a week after taking office? And what happens next?

    Source: The Conversation (Au and NZ) – By Craig Mark, Adjunct Lecturer, Faculty of Economics, Hosei University

    Japan’s new prime minister, Shigeru Ishiba, has been in the job for just over a week. But today, as had been widely expected, he dissolved Japan’s parliament, the Diet, triggering a snap election for later this month. It’s the fastest dissolution by a postwar leader in Japan.

    The typically short campaign will officially start on October 15, with election day on October 27.

    So, why is this election happening so soon after Ishiba took office? And what could happen next?

    Why hold elections now?

    Ishiba became prime minister on September 27 after finally winning the contest to be leader of the ruling Liberal Democratic Party (LDP) on his fifth attempt. He narrowly beat the ultra-nationalist Sanae Takaichi, denying her bid to become Japan’s first female prime minister.

    By holding a snap election for the House of Representatives, a year before it is required under the Constitution, Ishiba is hoping to catch the opposition parties off guard and secure a more solid mandate to pursue his policy agenda. He’s banking on the public rallying behind a new face and image for his party, following the unpopularity of former Prime Minister Fumio Kishida.

    The LDP should win next month’s election handily, despite the turbulence caused by recent scandals and leadership changes in the party. The LDP is still far ahead of the opposition in recent polling. A large number of people, however, remain uncommitted to any political party.

    The first approval rating poll for Ishiba’s new cabinet was also just over 50%. That’s lower than the polling for Kishida’s first cabinet three years ago. This indicates the public is not as enthusiastic for the new prime minister as the LDP might have hoped.

    The main opposition Constitutional Democratic Party (CDP) has also just elected a new leader, former Prime Minister Yoshihiko Noda. It is hoping to boost its consistently low opinion poll ratings by attempting to project an image of reliability and stability.

    What is Ishiba promising?

    In his first policy statement to the Diet last week, Ishiba pledged to revitalise the economy, particularly through doubling subsidies and stimulus spending for regional areas. He also promised to address wage growth, which remains weak due to cost of living pressures. It has been made worse by the relatively weak yen.

    Ishiba also wants to boost investment in next-generation technologies, particularly artificial intelligence and semiconductor manufacturing. And he indicated he may support an increase in the corporate tax rate. This could tap the massive cash reserves of major corporations to fund regional revitalisation programs. It could also provide more support to families of young children to boost Japan’s sagging birth rate.

    Tax hikes would also be necessary to maintain the higher defence spending that began under former Prime Minister Shinzo Abe and continued under Kishida.

    To appease the conservative wing of his party, which had backed Takaichi in the LDP leadership contest, Ishiba has backtracked on several policy positions he had previously supported. This includes reducing Japan’s reliance on nuclear power, allowing women to keep their family names after marriage, legalising same-sex marriage, and encouraging the Bank of Japan to gradually increase interest rates.

    Ishiba also conceded his proposal to pursue an “Asian-style NATO” will have to remain a longer-term ambition, after officials from India and the US expressed doubts over the proposal.

    Ishiba has confirmed, after some initial uncertainty, that his party will not endorse ten Diet members in the election who were implicated in a slush fund scandal that had damaged Kishida’s government. These Diet members are mainly from the large conservative wing of the party, removing some internal opposition to the new prime minister.

    However, public doubts over Ishiba’s commitment to genuine party reform, as well as infighting from the resentful remaining members of the conservative wing, could also result in a drop in support for the LDP.

    Is there any hope for the opposition?

    If it fares poorly in the election, the LDP could be even more dependent on support from its coalition partner, the Komeito Party, to retain control of the lower house and remain in government.

    The Komeito Party is backed by the Buddhist Soka Gakkai religious movement. It currently has 32 members in the Diet, compared to 258 for the LDP.

    To even have a chance of forming a minority government, the main opposition CDP (which has 99 seats currently) will need to present an appealing alternative policy program, which it has so far been unable to do. Japan has not had a minority government since 1993.

    Should the LDP-Komeito coalition nevertheless drop below the 233 Diet members required to maintain a majority, the second-largest opposition party, the populist, right-wing Japan Innovation Party, could find itself holding the balance of power.

    Ishiba’s challenge in this early election is not only to win enough votes to retain government, but to be electorally successful enough to hold off his rivals from the conservative wing of the LDP. They will be seeking to exploit any future failures by Ishiba to pressure him to step down early.

    If that were to happen, Takaichi would likely be a leadership contender again.

    Craig Mark does not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.

    – ref. Why did Japan’s new leader trigger snap elections only a week after taking office? And what happens next? – https://theconversation.com/why-did-japans-new-leader-trigger-snap-elections-only-a-week-after-taking-office-and-what-happens-next-240888

    MIL OSI Analysis – EveningReport.nz –

  • MIL-OSI United Kingdom: Two new non-executive directors join HMRC Board

    Source: United Kingdom – Executive Government & Departments

    Digital transformation expert Mike Bracken and tax specialist Bill Dodwell have joined the HM Revenue and Customs Board.

    The pair have been appointed as non-executive directors to the board, which is chaired by the Exchequer Secretary to the Treasury, James Murray MP.

    They will bring fresh expertise and experience to the board as it focuses on the minister’s 3 strategic priorities for HMRC:

    • closing the tax gap
    • improving customer service
    • modernising and reforming HMRC

    Jim Harra, HMRC First Permanent Secretary and Chief Executive, said:

    I’m delighted Mike and Bill are joining the board and adding their expert knowledge to the considerable expertise that already exists on the board.

    They will help HMRC to deliver on the minister’s priorities of closing the tax gap, improving customer service, and modernising and reforming HMRC.

    Mike Bracken has led digital operations and transformations in large-scale public and private sector organisations in the UK and Europe. He was the founder and executive director of the UK Government Digital Service (GDS) and the UK’s first Government Chief Data Officer.

    He has advised more than 30 governments and global financial institutions on digital transformation, from Australia to Argentina.

    Mike will chair the board’s Modernisation and Reform Committee.

    Bill Dodwell was Tax Director of the Office of Tax Simplification having been head of tax policy at Deloitte. He has law degrees from King’s College London and Queens’ College Cambridge and is a chartered accountant and chartered tax adviser.

    Bill is a former president of the Chartered Institute of Taxation and was a member of the General Anti-Abuse Rule Advisory Panel.

    Bill will chair the board’s Closing the Tax Gap Committee.

    Both Mike and Bill have been appointed board members by the Commissioners for Revenue and Customs for a fixed term of one year in accordance with the relevant guidance.

    The HMRC Board provides scrutiny, challenge and advice to the Commissioners for Revenue and Customs on HMRC’s operational strategies, performance, capability and risks. It is not decision-making and does not advise on policy development or the affairs of individual taxpayers.

    Updates to this page

    Published 9 October 2024

    MIL OSI United Kingdom –