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Abu Dhabi, UAESunday 16 December 2018

Modi is penalising the elderly and middle classes with his new tax

Readers discuss taxes, philanthropy and the Mueller probe in the US

Indian prime minister Narendra Modi's new tax will penalise the elderly and middle classes, our readers say / AP
Indian prime minister Narendra Modi's new tax will penalise the elderly and middle classes, our readers say / AP

In reference to your story Modi unveils pre-election budget in bid to woo voters by Samanth Subramanian (February 1), the finance minister has presented the 2019 election manifesto of the ruling BJP party in the guise of the financial budget for 2018/19.

The new tax on long-term equity gains is entirely regressive. The stocks market was one of the few segments which was ambling along well. However the new tax of 10 per cent on equity gains will dampen growth of the market. India is keen to lure foreign investors. The new levy will act as a dampener.

The middle classes in India are also severely indignant about the tax on equity gains. Many salaried citizens invest in stocks to provide for their later years. Now their old age funds stand depleted by 10 per cent. Investing in high-return stocks is an investment decision requiring some acumen. The government has decided to take 10 per cent of the gains, for no reason whatsoever.

Rajendra Aneja, Dubai

The UAE might be small but its contributions to the world are immense

Referring to your article Mayor Bloomberg: UAE’s impact much larger than its size (February 1), the collaboration in healthcare between the UAE and Johns Hopkins Hospital to launch the Sheikh Khalifa Stroke Institute in Baltimore and Abu Dhabi is a heartening development. The UAE merits the praise lavished on it by former New York mayor Michael Bloomberg. The UAE might be small but its contributions to the world are immense. It has established a reputation on the global stage for its philanthropy.

K Ragavan, India

Pricing is a problem when it comes to VAT

I refer to your article VAT in the UAE: tax now a routine part of life, say traders (February 1): the biggest problem is pricing. Suppose an item costs Dh18.37 and you are carrying Dh20, the shop can only give you Dh1.50 in coins. Who pockets the extra 13 fils? The shop does. With high volume sales at coffee shops and other places, businesses are making extra income on top at the expense of the consumer.

Name withheld by request

New checks will enhance the UAE's security

In response to your article New security checks for UAE expats come into effect (February 3), on the one hand, it's an additional hassle to produce an additional document. But on the other, it will definitely enhance the safety we enjoy in this country. Therefore the new checks are worth any extra hassle. Well done.

Nicola Siotto, Dubai

Will Mueller be allowed to continue his investigation?

In reference to your article Fact-checking the disputed Republican memo on the Russia probe (February 2), firing special counsel Robert Mueller, who is investigating Russia's interference in the US election, for conflict of interest would automatically be a guilty verdict for US president Donald Trump. The fact that the Democrats are doing everything they can to stop the memo from coming is perhaps proof that they are innocent and the memo is fake.

Roshan Coelho, Muscat

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