NamasteTaxIndia Unveiling India’s Tax-to-GDP Surprise!
Key points from Revenue Secratary SanjayMalhotra’s recent insights on India’s tax system:
India’s tax to GDP ratio is higher than commonly believed.
Proposed changes to the capital gains tax regime won’t harm the real estate sector.
Gradual formalization of the economy is bringing more people into the tax net.
The tax-to-GDP ratio, considering both central and state taxes, stands at approximately 18%.
This figure aligns reasonably well with income levels in various countries.
Overall, India’s tax system is performing better than often assumed.
Originally published on LinkedIn on 2024-07-26 19:13:41: https://www.linkedin.com/feed/update/urn%3Ali%3AgroupPost%3A2205762-7222680496084779009
NamasteTaxIndia Unveiling India’s Tax-to-GDP Surprise!
Key points from Revenue Secratary SanjayMalhotra’s recent insights on India’s tax system:
India’s tax to GDP ratio is higher than commonly believed.
Proposed changes to the capital gains tax regime won’t harm the real estate sector.
Gradual formalization of the economy is bringing more people into the tax net.
The tax-to-GDP ratio, considering both central and state taxes, stands at approximately 18%.
This figure aligns reasonably well with income levels in various countries.
Overall, India’s tax system is performing better than often assumed.
https://lnkd.in/dQCdB9JF
Originally published on LinkedIn on 2024-07-26 19:13:31: https://www.linkedin.com/feed/update/urn%3Ali%3Ashare%3A7222680453802037248
