Aggressive Taxation does not bring taxes but bad name
ADDRESSING the Columbia University yesterday, the Finance Minister Arun Jaitley said,
Legal Corner Icon — the image was hosted by the publisher and was not captured.++ Aggressive taxation did the country no good and does not bring taxes but it brought us a bad name.
++ one of the main problems of credibility related to taxation issues.
++ As far as the taxation issues are concerned, a lot needed to be done at our end and in terms of direct taxes, we'd lost credibility with the world.
++ For anyone in the government, it would be a very serious challenge where assessment orders have been passed, can only be set aside by a judicial process and not by an executive decision.
++ one by one each of those issues related to direct taxes is now being put to rest.
++ government is “keeping all options open” to resolve the taxation issues either by judicial or executive process.
++ the fears of retroactive taxation... by and large have been put to rest.
++ Over the next four years this entire rate would come down to 25 per cent. And I will be removing each one of those exemptions one by one. I am shortly going to notify all the exemptions which are going to be rationalised this very year itself.