0 UPSC EXAM ENGLISH QUIZ 19.12.2024 Daily Quiz 1 / 5 Q1. Consider the following statements: 1. Switzerland will suspend the Most Favoured Nation (MFN) clause in its Double Taxation Avoidance Agreement (DTAA) with India from January 1, 2025. 2. This will increase the tax rate on dividends paid to Indian taxpayers from 5% to 15%. Which of the above statement/statements are correct? 1 only 2 only Both 1 and 2 Neither 1 nor 2 Explanation: Switzerland will suspend the Most Favoured Nation (MFN) clause in its Double Taxation Avoidance Agreement (DTAA) with India from January 1, 2025.This will increase the tax rate on dividends paid to Indian taxpayers from 5% to 10%. Key Facts Regarding MFN Clause in DTAA DTAA between India and Switzerland: DTC IN-CH (India-Switzerland Direct Tax Convention) was signed on 2nd November 1994, to avoid double taxation on income between India and Switzerland. It was revised in 2000 and 2010.Article 11 of the 2010 protocol contains the MFN clause, which forms the basis for withdrawal of the MFN status by Switzerland under DTAA. MFN Clause in Protocol: The MFN clause ensures that lower tax rates offered by India to any third-country Organisation for Economic Cooperation and Development (OECD) member automatically apply to Switzerland as agreed upon after the 2010 protocol.The MFN clause aimed to maintain parity in taxation rates. 2 / 5 Q2. Consider the following statements: 1. Britain's membership in the Indo-Pacific Trade Organization Britain's membership in the Indo-Pacific Trade Organizationhas officially come into effect. 2. United Kingdom officially became the 13th member of the CPTPP . 3. Treaty signed: The former UK government signed the agreement last year, after which most member countries ratified it. Which of the statements given above is/are correct? 1 and 2 are correct 1 and 3 are correct 2 and 3 are correct All of the above Explanation: Britain's membership in the Indo-Pacific Trade Organization Britain's membership in the Indo-Pacific Trade Organization (CPTPP) (Comprehensive and Progressive Agreement for Trans-Pacific Partnership) has officially come into effect. Key Points Membership effective: The United Kingdom officially became the 12th member of the CPTPP (Comprehensive and Progressive Agreement for Trans-Pacific Partnership). Treaty signed: The former UK government signed the agreement last year, after which most member countries ratified it. Economic benefits: The agreement could benefit Britain's weak economy by up to $2.5 billion (about €2.4 billion) annually. 3 / 5 Q3. Consider the following statements: 1. US President-elect Donald Trump has promised to end Daylight Saving Time (DST), calling it “inconvenient and costly to the country”. 2. Daylight Saving Time is a process in which the clock is moved forward by one hour in summer and backward by one hour in autumn. Which of the above statement/statements are correct? 1 only 2 only Both 1 and 2 Neither 1 nor 2 Explanation: US President-elect Donald Trump has promised to end Daylight Saving Time (DST), calling it “inconvenient and costly to the country”. Daylight Saving Time Daylight Saving Time (DST) is a process in which the clock is moved forward by one hour in summer and backward by one hour in autumn. Purpose: Its main purpose is to make better use of natural daylight so that there is more light in the evening and the need for artificial lighting is reduced. Methodology: Countries that follow DST move the clock forward by one hour in summer and back in autumn. 4 / 5 Q4. Consider the following statements: 1. Ayodhya’s Ram Temple won the ‘Sword of Honour’ award for safety excellence. 2. The award recognises the Ram temple project’s commitment to maintaining stringent safety protocols during its construction. 3. The Ram temple has been constructed by using about 25 lakh cubic feet of Bansi Paharpur stone sourced from Rajasthan. Which of the statements given above is/are correct? 1 and 2 are correct 1 and 3 are correct 2 and 3 are correct All of the above Explanation: The Ram temple project in Ayodhya received the prestigious ‘Sword of Honour’ award from the British Safety Council. The award recognises the Ram temple project’s commitment to maintaining stringent safety protocols during its construction. The construction of the first and second floors, including the temple's “Shikhar”. The Ram temple has been constructed by using about 15 lakh cubic feet of Bansi Paharpur stone sourced from Rajasthan. The British Safety Council conducts a comprehensive audit of processes and practices. The Sword of Honour award is one of the highest accolades in safety management. This firm had earlier received the ‘Golden Trophy’ from the National Safety Council for its exemplary safety measures at the temple site. 5 / 5 Q5. Consider the following statements: 1. Preeti Lobana was named Google's new vice president and country manager for India. 2. She takes over from Sanjay Gupta, who recently moved up to a more senior position at Google as President of the Asia Pacific division. Which of the above statement/statements are correct? 1 only 2 only Both 1 and 2 Neither 1 nor 2 Explanation: Preeti Lobana was named Google's new vice president and country manager for India. She takes over from Sanjay Gupta, who recently moved up to a more senior position at Google as President of the Asia Pacific division. Lobana will be crucial in determining Google's approach to enabling all users to benefit from artificial intelligence's (AI) revolutionary potential. Roma Datta Chobey, who served as the interim country manager, will be Lobana's close collaborator in her new position. Roma Datta Chobey will remain in her position as Managing Director of Digital Native Industries at Google India. Lobana, an alumnus of the Indian Institute of Management in Ahmedabad, has demonstrated success in implementing change in large organisations. Your score is LinkedIn Facebook Twitter VKontakte Post navigation ALL EXAM QUIZ 19.12.2024 ALL EXAM QUIZ 20.12.2024
