With industry and tax payer- friendly initiatives taken by Finance Minister P Chidambaram this year, the government of India has succeeded in achieving unprecedented growth in tax collections.

Australian Prime Minister John Howard kicked off his re-election campaign Monday by promising major tax cuts as an opinion poll suggested his government is heading toward a crushing defeat.

While politicians from both sides squabble about the accuracy of public statements on tax, a major business group is lobbying for aggressive tax reform.

Republican presidential hopeful Rudy Giuliani plans to propose reducing corporate tax rates and cutting other individual taxes that his campaign said on Friday put a crimp on Americans' wallets.