PC Wants to Regain the Confidence of Stakeholders? When did we lose it?
IN a Press Statement yesterday, Finance Minister Chidambaram said, "Uppermost in my mind is the duty to re-gain the confidence of all stakeholders. Obviously, where necessary, our policies have to be modified or fine-tuned in order to meet the expectations of different stakeholders".
Is it an admission that we have lost the confidence of the stakeholders?
"Clarity in tax laws, a stable tax regime, a non-adversarial tax administration, a fair mechanism for dispute resolution, and an independent judiciary will provide great assurance to investors", said the FM.
Mr Chidambaram, please sit with your officers and try to understand the new negative Service Tax Regime. If it is difficult even for you to understand the complex law and procedure, please dump the provisions and let your assesses have a little peace of mind. You can get all the foreign investment you want, but please be a little kind to the unfortunate Indian investors who invest in India - not all of them are evaders - as your officers may like you to believe.
The FM has directed a review of the retrospective tax amendments and this should bring cheers to Vodafone and Co.