India starts faceless tax assessment regime to avoid discretion in tax collection: PM
BANGKOK: India is implementing a faceless tax assessment to avoid any discretion or harassment in tax collection, Prime Minister Narendra Modi He said Sunday when he highlighted the main reform initiatives launched by his government in the financial sectors over the past five years.
The Prime Minister, speaking at an event to commemorate the golden jubilee of the Aditya Birla Group operations in Thailand He also stated that India now has one of the most friendly tax regimes with people worldwide, and that efforts are being made to further improve the tax system.
In the presence of a large number of Indian and Thai business magnates, the Prime Minister specifically mentioned how the implementation of the goods and services tax has resulted in economic integration in the country, adding that his government was working to make it more friendly for people .
In the last five years, we have significantly reduced the tax burden on the middle class. We are now beginning a faceless tax assessment so that there is no room for discretion or harassment, Modi said.
Congress has criticized that the fiscal officials of the Modi government have been harassing companies and political leaders critical of the ruling establishment.
In August, the finance minister told India Inc. that they will not face any harassment as a new system is being implemented for officials to be held accountable for their actions.
In India today, the contribution of the hard-working taxpayer is appreciated. An area in which we have done significant work is taxation. I am happy that India is one of the friendliest tax regimes with people, Modi said.
In his speech, Modi also talked about reducing corporate tax rates.
They would have already heard about India's decision to reduce corporate tax rates. Our GST has fulfilled the dream of economic integration of India. We want to work to make it even more friendly to people, said the prime minister.
The prime minister also elaborated on the steps his government is taking to improve the ease of doing business in the country and its impact was reflected in several qualifications about the growth history of India.
India has climbed 79 places in the world Bank 's' Ease of doing business' in five years. From 142 in 2014, we are 63 in 2019. This is a huge achievement. For the third consecutive year, we are among the 10 best reformers. The variables for doing business in India are many, he said.
We are a large and diverse nation. There are central, state and local governments. In that context, a directional change shows our commitment to reforms. The people and the government came together to improve the business environment, the prime minister said. said.
The prime minister said that India was receiving substantially more tourists in recent years, which said it meant that our efforts on the ground are paying off. The fact that India has better roads, better air connectivity, better cleanliness and better law and order is bringing the world to India.
In his address, Modi also congratulated the Aditya Birla group for its commendable work in Thailand , saying it is creating opportunities and prosperity for many in the country.
"We are here in Thailand , with whom India has strong cultural linkages. And, we are marking fifty years of a leading Indian industrial house in this nation. This reaffirms my belief that commerce and culture have inherent powers to unite," the prime minister said.
Modi arrived here on a three-day visit on Saturday to attend the Asean-India, East Asia and RCEP summits.