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Wipro President Azim Premji suggested that low tax rates encourage voluntary compliance by taxpayers and help broaden the tax base. The lowering of the tax incentive rate would not be proportional to the cost of compliance, "he said.
Premji pronounced the keynote speech on the occasion of the 158th
On the subject of increasing the tax base, he said that it was encouraging that the government of unions focused on broadening the tax base.
The ratio of taxes to GDP in India is about 16%. According to Premji, [traduction]
insisting that India's tax and GDP ratio increases dramatically, he believes that the country's public social investments, which include areas such as Education, health and
He however suggested that it was necessary to broaden the tax base instead of maintaining higher tax rates.
"Although we should not downplay the importance of enforcement measures in a democratic set" The president of Wipro hailed the rationalization of slab rates by saying that "as long as" there is more to do here, the political framework and thought "
He also stressed the need for transparency and accountability in public spending as it enhances public awareness of their role in nation building and would eventually help to increase the tax base.
Premji also pointed to the need for technology to make people tax compliant and expressed his pleasure about the adoption of technology in the Department of Income Tax.
He said that the front-end was completely at the integration and the addition of back-end processes would also be automated soon.
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