For the record, the Budget shall mark many firsts also

Indian tax regime is set for total makeover

canada goose clearance The Narendra Modi government alacrity in promoting ease of tax administration, a critical component in the ease of doing business index, canada goose outlet edmonton has set in motion several incremental policy and administrative reforms, says Mukesh Butani. canada goose clearance

Canada Goose Parka Year 2016 will stand out as canada goose outlet new york city a year of reckoning insofar as the Indian and global tax policy landscape is concerned. Never before has the tax policy and ease of administration been so high on the political agenda as economies witnessed during the past 24 months. Canada Goose Parka

The G 20 and Organisation for Economic Co operation and Development led multilateral policy works canada goose outlet in toronto to combat global harmful tax practices culminated in a broader consensus on an inclusive framework of policy measures that shall find their way into country specific canada goose outlet buffalo tax rules, as well as more than 3,000 canada goose outlet uk fake bilateral tax treaties; all of this will come in the next 12 months or so.

The July 2016 ministerial level symposium held in China laid the foundation for work on enhancing, pro growth tax policy.

It is no surprise that India has been at the forefront of this, canada goose outlet reviews participating in a majority of global debates for ushering in transparency in tax matters. The transparency there circles around exchanging banking information, canada goose outlet avoiding stateless income and strengthening anti avoidance rules, besides taxing income based canada goose outlet mississauga on economic substance.

canada goose uk black friday The Narendra Modi government alacrity in promoting ease of tax administration, a critical component in the ease of doing business index, has set in motion several incremental policy and administrative reforms. canada goose uk black friday

canada goose factory sale It is against this backdrop that the upcoming Budget is being looked at as an opportunity for the government to lay down a roadmap for transformative changes. For the record, the Budget shall mark many firsts also. canada goose factory sale

To state a few, advancing the Budget date by a month is a possible precursor to an overlapping of the financial year with the calendar year; doing away with a separate rail budget shall free up resources for railways reforms; switching from archaic plan/non plan expenditure to a more contemporary capital revenue nomenclature will distance canada https://www.canadagoosestorevip.com goose outlet location the reform agenda from annual political leverage; and finally, burying the five year canada goose outlet store calgary plan and ushering in a 15 year vision statement is expected to pave the way for transformational policy changes.

Canada Goose sale Foremost, a majority of the policy announcements are likely to be woven around reformative changes to the economic canada goose shop uk architecture to address the post demonetisation policy framework. Canada Goose sale

Canada Goose Jackets This could mean a downward trend in tax rates, focusing on tax administrative reforms and promoting the digitisation of land records. Canada Goose Jackets

cheap Canada Goose Unveiling a canada goose outlet toronto factory new Fiscal Responsibility and Budget Management Act is likely, creating a sustainable long term roadmap on fiscal discipline without compromising infrastructure spending. The government would be wary of announcing populist dole out schemes and instead focus upon the larger objective of containing non plan, non productive capex. cheap Canada Goose

buy canada goose jacket In this drive, financial sector reforms hold an important key; a well coordinated monetary and fiscal policy canada goose outlet toronto regime would yield dividends. buy canada goose jacket

canada goose black friday sale Pushing its unceasing commitment to GST implementation, the government would do well to flesh out the details of the draft GST legislation, allowing the businesses at least four to six months to calibrate their preparation for a smooth transition. canada goose black friday sale

buy canada goose jacket cheap The political logjam on the GST framework has caused implementation uncertainty to resurface yet canada goose outlet 2015 again. The government must avoid the temptation of carrying out sundry changes to the existing indirect tax rate structure. buy canada goose jacket cheap

canada goose clearance sale Turning to direct tax policies, given the demonetisation move, rationalising income tax rates, coupled canada goose parka outlet with administrative reforms to ease compliance costs, will feature prominently. The extent of rate cuts could be a matter of speculation, but canada goose outlet website legit overarching principles of doing of business in India and ushering in a competitive tax regime should guide the change with preferential rates for middle income individuals. canada goose clearance sale

canada goose On a wider policy front, India is likely to witness a convergence with the emerging global tax policy landscape. A successful negotiation on the OECD multilateral instrument by an ad hoc group, where India participated on an equal footing with OECD countries, is intended to implement outcomes canada goose outlet sale from the comprehensive package of Base Erosion Profit Shifting works endorsed by G20. canada goose

canada goose uk shop While the Indian tax administration has in principle indicated its commitment to Multilateral Instrument implementation, it will necessitate amendments to the Income Tax Act to ink the multilateral convention and set in motion a renegotiation of over 90 tax treaties, with priority to nations that are India significant trade and investment partners. canada goose uk shop

Canada Goose Coats On Sale The government may also consider it opportune to clarify its stance on mandatory arbitration under the framework of bilateral tax and investment treaties. Ease of tax compliance for honest tax payers, given that the administration is likely to up surveillance for errant tax payers in light of demonetisation impact, shall mean embracing best practices on tax canada goose outlet store near me payer services, empowered ombudsman and canada goose outlet in vancouver discouraging avoidable litigation Canada Goose Coats On Sale.

Add a Comment

Alamat email Anda tidak akan dipublikasikan. Ruas yang wajib ditandai *