Latest news with #IRP
Fox News
4 days ago
- Sport
- Fox News
FINAL LAPS: Layne Riggs wins TSport 200 At IRP
Check out Layne Riggs taking the checkered flag at the TSport 200 At IRP at Lucas Oil Indianapolis Raceway Park.
Business Standard
4 days ago
- Business
- Business Standard
SBI Life Insurance registers New Business Premium of Rs. 7,268 crores for the period ended on 30th June, 2025
PRNewswire Mumbai (Maharashtra) [India], July 25: SBI Life Insurance, one of the leading life insurers in the country registered a New Business Premium of Rs. 7,268 crores for the period ended on 30th June, 2025 vis-a-vis Rs. 7,033 crores for the period ended June 30, 2024. Regular premium has increased by 12% over the corresponding period ended on 30th June, 2024. Establishing a clear focus on protection, SBI Life's protection new business premium stood at Rs. 980 crores for the period ended June 30, 2025. Protection Individual new business premium stands at Rs.165 crores for the period ended June 30, 2025. Individual New Business Premium stands at Rs. 4,939 crores with 4% growth over the corresponding period ended on 30th June, 2024. SBI Life's profit after tax stands at Rs. 594 crores for the period ended June 30, 2025 with a growth of 14% over the corresponding period last year. The company's solvency ratio continues to remain robust at 1.96 as on June 30, 2025 as against the regulatory requirement of 1.50. SBI Life's AUM also continued to grow at 15% to Rs. 4,75,813 crores as on June 30, 2025 from Rs. 4,14,772 crores as on June 30, 2024, with the debt-equity mix of 60:40. 94% of the debt investments are in AAA and Sovereign instruments. The company has a diversified distribution network of 323,838 trained insurance professionals and wide presence with 1,146 offices across the country, comprising of strong bancassurance channel, agency channel and others comprising of corporate agents, brokers, Point of sale persons (POS), insurance marketing firms, web aggregators and direct business. Performance for the period ended June 30, 2025 * Private Market leadership in IRP & Ind. NBP with market share of 22.3% & 25% respectively. * Annualized Premium Equivalent (APE) stands at Rs. 3,969 crores with growth of 9%. * Individual New Business sum assured stands at Rs. 66,631 crores with 73% growth. * Improvement in 13M & 61M persistency by 58 bps & 501 bps respectively. * Value of New Business (VoNB) stands at Rs. 1,088 crores with a growth of 12%. * VoNB Margin stands at 27.4%. * Indian Embedded Value (IEV) stands at Rs. 74,257 crores with growth of 20%. * Profit After Tax (PAT) stands at Rs. 594 crores with 14% growth * Robust Solvency ratio of 1.96 * Assets under Management stands at Rs. 4,75,813 crores with 15% growth About SBI Life Insurance SBI Life Insurance ('SBI Life' / 'The Company'), one of the most trusted life insurance companies in India, was incorporated in October 2000 and is registered with the Insurance Regulatory and Development Authority of India (IRDAI) in March 2001. Serving millions of families across India, SBI Life's diverse range of products caters to individuals as well as group customers through Protection, Pension, Savings and Health solutions. Driven by 'Customer-First' approach, SBI Life places great emphasis on maintaining world class operating efficiency and providing hassle-free claim settlement experience to its customers by following high ethical standards of service. Additionally, SBI Life is committed to enhance digital experiences for its customers, distributors and employees alike. SBI Life strives to make insurance accessible to all, with its extensive presence across the country through its 1,146 offices, 27,040 employees, a large and productive network of about 253,799 agents, 62 corporate agents and 9 bancassurance partners with more than 41,000 partner branches, 150 brokers and other insurance marketing firms. In addition to doing what's right for the customers, the company is also committed to provide a healthy and flexible work environment for its employees to excel personally and professionally. SBI Life strongly encourages a culture of giving back to the society and has made substantial contribution in the areas of child education, healthcare, disaster relief and environmental upgrade. In 2024-25, the Company touched over 53,000 direct beneficiaries through various CSR interventions. Listed on the Bombay Stock Exchange ('BSE') and the National Stock Exchange ('NSE'), the company has an authorized capital of ' 20.0 billion and a paid up capital of ' 10.0 billion. The AuM is ' 4,758.1 billion. For more information, please visit our and connect with us on Facebook, Twitter, YouTube, Instagram, and Linkedin. (Numbers & data mentioned above are for the period ended June 30, 2025) Logo:
Time of India
6 days ago
- Business
- Time of India
Live in Oman for 10 years: How to qualify for long-term residency by investment
Oman's investor visa offers self-sponsored 5- and 10-year residency to global investors/Representative Image TL;DR: Oman grants 5- and 10-year renewable residencies to eligible foreign investors. Investment thresholds: OMR 250,000 (USD 650k) for 5 years; OMR 500,000 (USD 1.3 million) for 10 years. Investment options include real estate, business equity, government bonds, or bank deposits. Residency permits include self-sponsorship, multiple entries, and family coverage. As part of its sweeping national reform strategy known as Oman Vision 2040, the Sultanate has actively shifted toward welcoming long-term foreign capital through structured programs. The Investor Residency Program (IRP), launched in 2021 and regulated by Ministerial Decision No. 209/2022, serves as a key pillar in that effort. It allows global investors to obtain either five-year or ten-year renewable residencies, offering them not only a stable base in one of the region's safest and most business-friendly environments, but also a pathway to long-term integration into Oman's private sector landscape. Unlike temporary or employment-linked visas, the IRP provides investors and their families self-sponsorship rights, creating an appealing option for high-net-worth individuals seeking security, stability, and flexibility in the Gulf. With minimal bureaucratic hurdles and a digital-first application model, Oman positions itself as a discreet but powerful player in the competitive GCC residency-by-investment arena. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Top 15 Most Beautiful Women in the World Undo Legal Framework & Authority Responsible Body: Ministry of Commerce, Industry and Investment Promotion (MOCIIP) Regulatory Basis: Ministerial Decision No. 209/2022 Delivery: Administered via the Invest Oman digital portal and affiliated service centres Residency vs Citizenship: Offers long-term stay benefits but does not confer citizenship or nationality Investment Tiers & Permit Duration Under the Investor Residence Programme, Oman offers two main tiers of residency permits, categorized by the amount of investment and the duration of the permit. According to the Ministry of Commerce, Industry and Investment Promotion (MoCIIP), the first tier, known as the long-term residency, grants a 10-year renewable residency to investors who commit at least OMR 500,000 (approximately USD 1.3 million) in eligible investments. These may include purchasing property in designated integrated tourism complexes (ITCs), establishing a business, or investing in government-approved development projects. The second tier, known as the medium-term residency, provides a 5-year renewable residency for those investing OMR 250,000 (around USD 650,000). Both tiers allow the investor to sponsor their spouse, children (up to age 25), and parents. Residency is conditional upon maintaining the investment throughout the permit period, and failure to do so may result in revocation, as outlined by Oman's Decision No. 26/2021 governing the programme. Additionally, in a 2024 update, authorities confirmed that investors are also eligible to apply for property ownership rights, especially within ITC-designated areas, a policy designed to stimulate the real estate and tourism sectors. The programme aims to attract foreign capital and promote long-term economic diversification in line with Oman Vision 2040. Benefits & Family Inclusion The program is designed for comprehensive lifestyle integration. Primary benefits include the right to self-sponsor (no employer or local sponsor needed), freedom to enter and exit Oman multiple times during the visa validity, and eligibility to own and operate businesses with 100% foreign ownership under the Foreign Capital Investment Law. Investors may also access education, healthcare, and leasing rights, similar to Omani residents. Crucially, the IRP allows the inclusion of immediate family members: spouse, minor children, and dependent parents. Family members receive residency for the same duration as the principal investor, creating a full relocation path. While these dependents do not need to make separate investments, they must pass medical and security checks and are subject to minor processing fees. Oman's program does not currently impose a minimum stay requirement, meaning investors can maintain global mobility without needing to reside in the Sultanate full time. This flexibility makes it especially attractive for businesspeople managing operations across different geographies. Application Process Applying for the Investor Residency Programme in Oman is streamlined through the Investment Services Center under the Ministry of Commerce, Industry and Investment Promotion (MoCIIP). The entire process can be completed online via the official 'Invest Easy' portal, which centralizes government services for investors. Applicants must first select their desired residency tier—5-year or 10-year—based on their planned investment amount. They are required to submit a formal application, including personal identification documents (passport copy, civil ID if applicable), proof of investment (e.g., property deeds, business licenses, bank statements), a valid health insurance policy, and a police clearance certificate from their country of residence or origin. Additionally, a medical fitness certificate from an approved Omani health facility is mandatory for all applicants. Once submitted, applications are reviewed by a specialized committee within the MoCIIP. If approved, the investor is granted a residency permit issued by the officials, which can be renewed depending on continued compliance with investment thresholds. Investors may also apply to sponsor their immediate family members during or after the approval process. To improve efficiency and attract more high-net-worth individuals, Oman's government introduced a 'green channel' fast-track option for applicants meeting certain strategic investment criteria, though these are subject to ministry discretion. The entire process typically takes between 5 to 15 working days, provided all documents are complete and verifiable. Oman's Investor Residency Program marks a strategic shift in how the Sultanate positions itself on the global investment map. While less high-profile than neighbouring UAE or Saudi Arabia, Oman's offering is transparent, practical, and legally grounded, making it appealing to investors looking for long-term regional presence without excessive publicity or bureaucracy. With a stable political climate, low crime rates, and one of the most livable environments in the Gulf, Oman's long-term visa option is increasingly being seen not just as a tool for economic development, but as a pathway to quality of life. Whether you're investing in real estate, launching a company, or diversifying assets through bonds or deposits, the IRP offers a dependable route to long-term residency in a country where safety, business autonomy, and serenity converge.
Indian Express
22-07-2025
- Business
- Indian Express
Unused buses at Anik depot: BEST says contract terminated as firm flouted norms
As nearly 100 unused mini buses stay parked idle at the Anik depot in Mumbai for more than a year, the Brihanmumbai Electric Supply and Transport (BEST) undertaking on Tuesday said that the contractor who was running these buses did not adhere to contract terms, leading to its termination. In a statement, BEST said that the parked buses were owned by M P Enterprises, a private operating company that was awarded a contract in December 2019 to run 275 mini buses on a wet lease basis. BEST undertaking stated that throughout the duration of the contract, the operator was repeatedly served with notices for not adhering to contract terms. 'The contract was finally terminated in December 2022 due to failure to meet the requirements as per the prescribed norms,' the statement added. BEST gave several reasons for the cancellation including frequent bus breakdowns, operational irregularities, failure to meet the service level agreement and Provident Fund contribution defaults. The undertaking further added that the operator had ceased operating even prior to the formal cancellation of the contract. After the contract ended, the operator lodged a claim under the Corporate Insolvency Resolution Process (CIRP) in April 2023. An Interim Resolution Professional (IRP) was appointed by the National Company Law Tribunal (NCLT), Mumbai, as part of the process. 'The buses stationed at Anik depot are under the IRP's control,' BEST said. BEST also informed that it has found out that the liquidator is now undertaking the auction of the buses and that the undertaking has already written to the liquidator seeking removal of the buses. 'It should be noted that these buses are not being moved as the matter is under the jurisdiction of the Interim Resolution Professional,' the statement added.
Miami Herald
16-07-2025
- Business
- Miami Herald
What the IRS Really Knows About Your Income in 2025 - Clear Start Tax Reveals How to Stay Ahead of Surprise Tax Bill
IRS tech tools are smarter than ever - Clear Start Tax explains how income mismatches trigger audits, and what taxpayers can do to stay compliant. IRVINE, CA / ACCESS Newswire / July 16, 2025 / With the IRS expanding its data-matching capabilities through advanced systems like the Information Returns Processing (IRP) platform, taxpayers are finding themselves blindsided by CP2000 notices, audits, or unexpected tax bills, sometimes months after filing. According to Clear Start Tax, understanding how the IRS cross-checks income data in 2025 is essential to staying ahead of costly surprises. "The IRS doesn't need to guess - they already have your 1099s, W-2s, and even crypto reports before you file," said the Head of Client Solutions at Clear Start Tax. "Most IRS notices come from mismatches, not criminal intent. But if you ignore them, they can escalate fast." How the IRS Sees Your Income - Before You Even File Contrary to popular belief, the IRS doesn't wait for an audit to catch mistakes - most income mismatches are flagged automatically. The IRS's Information Returns Processing (IRP) system aggregates data from countless sources, comparing it against your tax return behind the scenes. This means the IRS often knows about your income, even if you forget to report it. The IRP system pulls in data from: W-2s from employers1099 forms from banks, brokerages, and gig platformsSSA and unemployment recordsCryptocurrency exchange reports (via Form 1099-DA, coming soon)Mortgage and insurance statementsForeign bank account data (via FATCA agreements) These records are automatically compared against your tax return. If a mismatch appears, a CP2000 notice - or worse, an audit flag - can be triggered without warning. CP2000 Notices Are the First Warning Sign A CP2000 notice is often the first time a taxpayer learns the IRS found a mismatch in their income reporting. It's not an audit - yet - but it carries serious consequences if ignored. The IRS uses these notices to propose changes to your return, often with added taxes, interest, and potential penalties. According to Clear Start Tax, the most common triggers for CP2000 notices in 2025 include: Missing or incorrect 1099-NEC or 1099-K gig incomeReporting investment income incorrectly (e.g., selling crypto without basis data)Overlooking unemployment or early retirement withdrawalsFiling with outdated employer informationOmitting foreign income or failing to disclose foreign accounts "In 2024, the IRS issued over 11 million CP2000 notices," added the Head of Client Solutions. "It's one of their most common enforcement tools - and most people don't even know what it is until they get one." Avoid Surprises by Matching Records Before the IRS Does Once the IRS has flagged your return, it becomes much harder to negotiate or correct errors. That's why Clear Start Tax encourages taxpayers to stay one step ahead by verifying all income sources and tax documents before they file. This proactive approach can prevent costly notices and reduce the risk of enforcement actions. Steps Clear Start Tax recommends include: Reconciling all 1099, W-2, and third-party data before filingRequesting wage and income transcripts from the IRSAmending prior-year returns with missing incomeResponding promptly and professionally to CP2000 or Letter 6173 noticesExploring relief options if penalties or balances are already accruing By answering a few simple questions, taxpayers can find out if they're eligible for the IRS Fresh Start Program and take the first step toward resolving their tax debt. Fresh Start Program Offers Relief - Even After a Notice For those who have already received a CP2000 notice or now owe tax due to underreported income, you still have options. The IRS Fresh Start Program helps taxpayers reduce, settle, or restructure their debt. Clear Start Tax helps clients determine eligibility and guides them through each step of the resolution process. Depending on a taxpayer's financial situation, the program may offer: Payment plans based on current ability to payReduction or removal of penalties and interestSettlement for less than the full amount owed through an Offer in Compromise "Even if you've made a mistake, there's a path forward," said the Head of Client Solutions. "What matters is responding early - and getting the facts straight before the IRS takes further action." About Clear Start Tax Clear Start Tax is a full-service tax liability resolution firm that serves taxpayers throughout the United States. The company specializes in assisting individuals and businesses with a wide range of IRS and state tax issues, including back taxes, wage garnishment relief, IRS appeals, and offers in compromise. Clear Start Tax helps taxpayers apply for the IRS Fresh Start Program, providing expert guidance in tax resolution. Fully accredited and A+ rated by the Better Business Bureau, the firm's unique approach and commitment to long-term client success distinguish it as a leader in the tax resolution industry. Need Help With Back Taxes? Click the link below: 710-3533 Contact Information Clear Start TaxCorporate Communications Departmentseo@ 535-1627 SOURCE: Clear Start Tax
