Economy

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

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India, he mentioned, is among the many choose few nations which have codified rights and obligations of taxpayers.

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

Speaking on the inauguration of an office-cum-residential complicated of the Income Tax Appellate Tribunal at Cuttack, Modi highlighted the discount within the company tax charge, simplified charge construction for particular person taxpayers, faceless appeals and fast refunds.

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

“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 additional mentioned not a lot occurred submit Independence to alter the exploited and exploiter relation between the taxpayer and tax collector.

“But now change is happening,” he mentioned and went on to quote measures like faceless appeals, fast refunds and dispute decision mechanism.

“We are reforming rules and procedures and using technology,” he mentioned, including the tax administration is being remodeled.

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

Stating that wealth creators ought to be honoured, he mentioned easing their issues will assist in development of the financial system.

Acceptance of as many as 99.75% of the tax returns certainly is a step in direction of trusting the taxpayer, he added.



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