FARIDABAD:
Finance Minister Arun Jaitley today said a lower level of taxation that is globally compatible is necessary if the country has to have a broader base of economy.
He said gone are the days of the philosophy that high taxation will bring greater revenues and that since 1991 the course of economy has altered itself.
“What you need is a broader base of economy for which you need a lower level of taxation. You need to manufacture products and provide services which are more competitive in character and therefore your taxes have to be globally compatible,” Jaitley said while inaugurating the professional training of IRS officers.
He said competition is not merely domestic but global and therefore in the last two-and-a-half decades, governments have been guided by these principles.
Tracing the behaviour of people in the last 70 years, the Finance Minister said there has been an impression if aoidance could be done of government revenue, there is nothing “improper or immoral” about it.
This was, he said, considered to be “c
ommercial smartness” and of course some people were visited with very serious consequences.
He told the young revenue service officers that in coming future decades they should see that voluntary tax compliance has to increase in India.
“And the mindset of the tax payer (should be) that payment of legitimate taxes is a responsibility and then it should be reciprocated by you with a confidence in the tax payer. The tax payer is to be trusted, except when it’s proven otherwise.
And therefore only in those select cases, very objectively selected, you go in for a wider audit or a wider scrutiny itself,” Jaitley said.

more recommended stories
Moral Policing: Muslim Woman Harassed For Talking To Youth In B’luru; 4 HeldBENGALURU:The Karnataka Police arrested four individuals,.
Pleased that Slovakia Recognises Indian Community’s Hard Work, says Prez MurmuBRATISLAVA:President Droupadi Murmu commended the Indian.
Tahawwur Rana Wanted Pakistan’s ‘Nishan-e-Haider’ Award for Nine LeT Terrorists Killed in 26/11 ActionNEW DELHI:Tahawwur Rana had aspired for.
Freak Storms Devastate Bihar: 19 Dead, Crops Damaged, Govt Announces Relief MeasuresPATNA:In a tragic turn of events,.
Tahawwur Rana’s Extradition Poised to Strengthen India’s Case on Pakistan’s Role in 26/11 AttacksNEW DELHI:In a major breakthrough that.
Indian Economy Resilient Despite Global Uncertainty: HM Amit Shah On US TariffsNEW DELHI:Union Home Minister Amit Shah.
Centre Appoints Special Public Prosecutor For 26/11 Mumbai Terror Attack CaseNEW DELHI:The Central government has appointed.
Flight Carrying 26/11 Accused Tahawwur Rana To Arrive In Delhi TodayNEW DELHI:Tahawwur Hussain Rana, one of.
Monster Father Arrested for Repeatedly Raping Minor DaughterGADAG (KARNATAKA):A 55-year-old man has been.
Immortal In Spirit: Accident Victim’s Organs Give New Life To 7 PatientsBHUBANESAR:In a remarkable act of compassion,.