To help pay for the coronavirus economic fallout, a group of Indian Revenue Service officers have recommended taxing the super rich and foreign companies. However, the idea dismissed by the Indian government, saying it did not reflect official views.
In a report sent to the Central Board of Direct Taxes (CBDT), increasing the highest tax rate to 40 percent recommended by some 50 officers of the Indian Revenue Service for people with annual income above 10 million rupees ($131,130).
The report did not reflect the official views of the Finance Ministry and the CBDT, the Income Tax Department which is governed by the CBDT said.
No officer from IRS or other groups was ever asked by the government to give any report on the subject, sources from Finance Ministry said. To prepare such a report was not part of their duty. Taking personal views to the media, the sources said it was considered an act of indiscipline.
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Published on April 27, 2020 6:12 PM (GMT+8)Last Updated on April 27, 2020 6:12 PM (GMT+8)
