GoalTide Daily Current Affairs 2020
Current Affair 1:
G7 leaders called for the world to become net zero and nature positive.
G7 leaders recently announced that “our world must not only become net zero, but also nature positive, for the benefit of both people and the planet.” This represents a real paradigm shift in how nations, businesses, investors and consumers view nature.
But now there is a new worldview gathering pace: "nature positive." What is Nature Positive?
A nature positive approach enriches biodiversity, stores carbon, purifies water and reduces pandemic risk. In short, a nature positive approach enhances the resilience of our planet and our societies.
Farming, overfishing, mining and deforestation have now reached such a scale that they are reducing the resilience of the biosphere. About half of habitable land on Earth is used for farming, resulting in the world's single largest source of greenhouse gases and ecosystem destruction. We are also exceeding planetary boundaries, creating a dual nature and climate emergency.
A nature positive approach contributes to solving both. At its heart, the goal is to halt and reverse the destruction of nature by 2030 with a full recovery of a resilient biosphere by 2050.
Current Affair 2:
Tax Inspectors Without Borders (TIWB)
Tax Inspectors Without Borders (TIWB), a joint initiative of the United Nations Development Programme (UNDP) and the Organisation for Economic Cooperation and Development (OECD), launched its programme in Bhutan today. India was chosen as the Partner Jurisdiction and has provided the Tax Expert for this programme. The focus of the programme will be in the area of International Taxation and Transfer Pricing.
The objective of the TIWB Initiative is to enable sharing of tax audit knowledge and skills with tax administrations in developing countries through a targeted, real-time “learning by doing” approach.
Current Affair 3:
Agreement between India and Saint Vincent and The Grenadines for the Exchange of Information and Assistance in Collection with respect to Taxes
The Union Cabinet, chaired by the Prime Minister Mr. Narendra Modi has approved an Agreement between the Republic of India and Saint Vincent and The Grenadines for the Exchange of Information and Assistance in Collection with respect to Taxes.
Details of the Agreement:
- This is a new Agreement between the Republic of India and Saint Vincent and The Grenadines. There was no such agreement in past between the two countries.
- Agreement mainly proposes to facilitate exchange of information between the two countries and to help each other in collection of tax claims.
- Agreement also contains tax examination abroad provisions which provide that a country may allow the representatives of the other country to enter its territory (to the extent permitted under its domestic laws) to interview individuals and examine records for tax purposes.
Impact:
Agreement between the Republic of India and Saint Vincent and The Grenadines will help in facilitating the exchange of information between the two countries including sharing of information held by the banks and other financial institutions encompassing the information regarding the legal and beneficial ownership. It will also facilitate the assistance in collection of the tax claims between the two countries. Thus, it will strengthen India's commitment to fight offshore tax evasion and tax avoidance practices leading to generation of unaccounted black money.
Background:
There was no such agreement with Saint Vincent and The Grenadines in the past and India was negotiating this agreement since a long time. Finally, Saint Vincent and The Grenadines agreed to conclude this agreement with India which will promote tax cooperation between the two countries through exchange of information and assistance in collection of outstanding tax claims between the two countries.
Current Affair 4:
Antarctic Treaty
The Antarctic Treaty was signed in Washington on 1 December 1959 by the twelve countries whose scientists had been active in and around Antarctica during the International Geophysical Year (IGY) of 1957-58. It entered into force in 1961 and has since been acceded to by many other nations. The total number of Parties to the Treaty is now 54.
Some important provisions of the Treaty:
- Antarctica shall be used for peaceful purposes only
- Freedom of scientific investigation in Antarctica and cooperation toward that end… shall continue
- Scientific observations and results from Antarctica shall be exchanged and made freely available
India became a member of this treaty in 1983.
The Secretariat of the Antarctic Treaty is located in downtown Buenos Aires, Argentina.
Current Affair 5:
Peter Pan Syndrome
The Bombay High Court on Monday granted bail to a 23-year-old rape accused. The man allegedly sexually assaulted a 14-year-old girl. The ground on which the Bombay High Court granted bail was that the accused suffered from a psychological condition known as Peter Pan Syndrome.
Peter Pan Syndrome is a psychological condition that is used to describe an adult — more in men than women — who is socially immature. Peter Pan was a care-free young boy, who never grew up.
What are the symptoms of Peter Pan Syndrome?
As Peter Pan Syndrome hasn’t officially been diagnosed as a health disorder, there aren’t clearly-defined symptoms or characteristics or even reasons which cause it. However, according to HealthLine, it could affect one’s daily routine, relationships, work ethic, and result in attitudinal changes.
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