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Indian Tax Authority Pursuing Simpler Tax Rules

by Mary Swire,, Hong Kong

14 October 2015

The Chair of India's Central Board of Direct Taxes told a recent gathering of business leaders that the agency is seeking to facilitate taxpayer compliance and is seeking to simplify India's tax framework and laws.

Anita Kapur was speaking at the inaugural session of the 3rd Global Tax Summit, hosted by the Confederation of Indian Industry in Delhi on October 8, 2015.

Kapur highlighted the partnership between Government and industry in enabling effective tax collection. She said the Government favors lower tax rates, to leave more money in the hands of businesses for investment and growth, which will in turn lead to increase revenues.

Kapur highlighted the findings of a recent study that showed that non-compliance rates are higher because tax law is seen to be too complex and because complying with tax law is too onerous.

She told attendees that the tax authority is seeking to make compliance easier for companies of all sizes. However, she noted that supporting multinationals to achieve compliance is the most challenging, due to their operations in multiple tax jurisdictions.

As announced by the Finance Minister in his Budget speech, the CBDT is contemplating reduction in tax rates alongside the removal of exemptions, she said, highlighting that offering too many incentives tends to lead to complexity and disputes.

Also speaking at the event, V S Sirpurkar, Chairman of the Authority for Advance Rulings, stressed that, in many instances, there is an unintended mismatch between the intent of the Government and the verbal interpretation of the law. There should be efforts to fill such gaps by bringing out suitable clarifications or law amendments, he said.

TAGS: environment | compliance | Finance | tax | investment | business | tax compliance | India | tax incentives | law | enforcement | ministry of finance | tax authority | agreements | multinationals | legislation | tax planning | transfer pricing | tax rates | tax reform | standards | regulation | trade | Tax

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