Indian Income Tax – 9000 pages of laws
Our Mahan Bharat has scored yet another first – We have the largest Income Tax legislation in the world – 9000 pages of them, according to a study conducted by the World Bank and PricewaterhouseCoopers. India is followed by United Kingdom at 8,300; Australia is at third spot with 7700 pages. USA has 5,100 pages of income tax legislation and Switzerland has just 300 pages.
What are the consequences of 9000 pages of law? Ignorance! It is impossible any human being to know all the 9000 pages. This brings in taxation advisers and consultants into play.
The study says "Countries need to reflect on the likely deterrent effect of ever increasing complexity of their tax legislation and the resulting probable reduction in their international competitiveness. Ultimately, when tax legislation becomes too voluminous compliance drops more through ignorance than deliberate evasion."