India has shifted from tax terrorism to tax transparency: PM Modi

India, he said, is among the select few nations which have codified rights and responsibilities of taxpayers.

Prime Minister Narendra Modi on Wednesday underscored tax reforms of the past six years to say India has moved from tax terrorism to tax transparency.

Speaking at the inauguration of an office-cum-residential complex of the Income Tax Appellate Tribunal at Cuttack, Modi highlighted the reduction in the corporate tax rate, simplified rate structure for individual taxpayers, faceless appeals and quick refunds.

“Tax terrorism was a common refrain during past governments. The nation has left that behind and moved towards tax transparency,” he said.

“The change from tax terrorism to tax transparency has happened because we have propagated the concept of reform, perform and transform,” he emphasised.

The Prime Minister further said not much happened post Independence to change the exploited and exploiter relation between the taxpayer and tax collector.

“But now change is happening,” he said and went on to cite measures like faceless appeals, quick refunds and dispute resolution mechanism.

“We are reforming rules and procedures and using technology,” he said, adding the tax administration is being transformed.

India, he said, is among the select few nations which have codified rights and responsibilities of taxpayers. “This is an important step in restoring trust and transparency between taxpayer and tax collector.”

Stating that wealth creators should be honoured, he said easing their problems will help in growth of the economy.

Acceptance of as many as 99.75% of the tax returns without a doubt is a step towards trusting the taxpayer, he added.

News aggregated fromSource link

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest

Farmers protest in Delhi live updates | Amarinder Singh slams Khattar govt. for stopping farmers marching towards Delhi

Farmers from Haryana and Punjab are scheduled to reach Delhi on Thursday through five highways connecting the city as...

UP’s new export policy focuses on doubling farmers’ income, boosting agricultural...

The new export policy envisages simplification of the export process, early disposal of export-related forms of various departments of the state through a single-window...

Coronavirus live updates | Class X, XII teachers to report for...

The Ministry of Home Affairs (MHA) on Wednesday issued fresh guidelines for “surveillance, containment and caution” in view of the surge in COVID-19 cases due to...

More Articles