Forthcoming budget will have stipulations for simplified direct and indirect taxation, says MOS Finance

Minister of State for Finance, Arjun Ram Meghwal on Wednesday promised that the forthcoming budget would have stipulation and provisions that would lead to further simplification of tax administration and tax dispensation of both direct and indirect taxes to enable business community to render their transaction smoothly and effectively.

In his Valedictory address at International Tax Conference : Global Tax Issues and Recent Developments under aegis of PHD Chamber of Commerce and Industry here today, Meghwal described the demonetization move of the NDA government as a step that would severely attack the menace of cross border terrorism and its funding besides substantially reducing the threat of rising black money.

"Tax administration and tax policies need to be further simplified to promote ease of doing business as well as its facilitation. The forthcoming budget would reflect and adequately cater to this effect," said Meghawal adding that the government of the day is committed to eliminate corruption and red tape.

"The decision to demonetize the Rs. 500 and Rs.1,000 notes is one such step in this direction and many more such moves would follow as Prime Minister Mr. Modi is determined to purge the system from all its ailments," added the minister.