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In terms of taxation, we are a non-compliance society: Arun Jaitley

Excessive paper currency has its own vices, says Finance Minister Arun Jaitley

IANS  |  Gandhinagar 

Union Finance Minister Arun Jaitley on Wednesday said that India was substantially a non tax-compliant society and demonetisation can lead to more formal banking transactions, thus nudging the society towards more compliance. "We are substantially in terms of taxation, a non-compliance society. The narrowness of our tax base is realised by the data. Formal transactions can lead to higher revenues, and make us more compliant," Jaitley said here at the Vibrant Gujarat Global Summit 2017. "Excessive paper currency has its own vices. There is anonymity and no history ...

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In terms of taxation, we are a non-compliance society: Arun Jaitley

Excessive paper currency has its own vices, says Finance Minister Arun Jaitley

Excessive paper currency has its own vices, says Finance Minister Arun Jaitley Union Finance Minister Arun Jaitley on Wednesday said that India was substantially a non tax-compliant society and demonetisation can lead to more formal banking transactions, thus nudging the society towards more compliance. "We are substantially in terms of taxation, a non-compliance society. The narrowness of our tax base is realised by the data. Formal transactions can lead to higher revenues, and make us more compliant," Jaitley said here at the Vibrant Gujarat Global Summit 2017. "Excessive paper currency has its own vices. There is anonymity and no history ... image
Business Standard
177 22

In terms of taxation, we are a non-compliance society: Arun Jaitley

Excessive paper currency has its own vices, says Finance Minister Arun Jaitley

Union Finance Minister Arun Jaitley on Wednesday said that India was substantially a non tax-compliant society and demonetisation can lead to more formal banking transactions, thus nudging the society towards more compliance. "We are substantially in terms of taxation, a non-compliance society. The narrowness of our tax base is realised by the data. Formal transactions can lead to higher revenues, and make us more compliant," Jaitley said here at the Vibrant Gujarat Global Summit 2017. "Excessive paper currency has its own vices. There is anonymity and no history ...

image
Business Standard
177 22