India Plans Tax Code Overhaul to Fight Tax Evasion
August 13th, 2009
My friend, Richard Murphy, has pointed out that India is planning to overhaul its tax code in a dramatic attempt to fight tax evasion and improve tax revenue. From the FT:
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India’s government is planning a big shake-up of its archaic tax system in a bid to curb widespread evasion as it confronts a sharply widening fiscal deficit amid expanding social welfare programmes.
The plan, announced by Pranab Mukherjee, the finance minister, aims to foster greater compliance with tax laws by lowering key corporate and personal income tax rates, simplifying...