Finance ministry says the proposed revamp will focus on structural reforms, rate rationalisation & ease of living, & will be deliberated upon in the coming weeks.
It is time for more proactive thinking on tax policy, which can no longer be guided only by the limited objective of revenue maximisation or hawkish enforcement to meet steep internal targets.
Kenyans came out in thousands to protest the recent tax hikes. The police reacted with live bullets and tear gas, killing at least five people and injuring hundreds.
A government can afford to make tough decisions in its early days. Resisting populist concerns, we need long-term reform such as broadening the tax base and removing deductions.
Budget could also look at tax rebates to stimulate housing demand, raising standard deduction, getting rid of redundant stock market taxes to encourage households to invest.
The tax department's move had raised concerns over increase in compliance burden for firms, and it's unclear if the govt will go through with the proposal.
Earlier, the government would pay input credit. But now, since the final product is not taxed, manufacturers will have to add it to the cost of the pads.
With his cameo in Bads of Bollywood, Emraan Hashmi, who has long shifted away from his signature bold image, got the chance to revive his boyhood charm.
SEBI probe concluded that purported loans and fund transfers were paid back in full and did not amount to deceptive market practices or unreported related party transactions.
There were no plans to have Mk1A version. However, compromise was reached between HAL & IAF in 2015 since original plan for getting Mk2 would've been time-consuming affair.
Many really smart people now share the position that playing cricket with Pakistan is politically, strategically and morally wrong. It is just a poor appreciation of competitive sport.
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