Dear Sir/Madam
Please find below a short note on my budget wish list!
While individuals and corporate are hoping for reduction, abolishment or waiver of various taxes such as income tax, fringe benefit tax, excise duty etc, my budget wish-list is slightly different. I conjecture that one of the ideal ways to mitigate the fiscal deficit is to get the nationals to pay taxes on the true income earned. This may sound impossible but the fact remains that if taxes are not collected on true income and wealth, the Government will continue to struggle with the fiscal deficit. As a result, hopes for waiver and reduction will only lead to despair. However, if the Government brings some tax sops and concessions for regular tax payers and offers the tax dodgers a fair chance to avail those concessions by schemes like VDIS, tax dodgers may turn around. I am not advocating the much argued “soft on tax-dodgers” approach. I am only suggesting that the status of the tax payer need to be elevated so that non-payers of tax would be tempted to come clean. The theme of the VDIS, 97 campaign was “100 per cent peace of mind by paying 30 per cent tax'', very true and encouraging!
About me!
Chandrashekar Kupperi is a Chartered Accountant by qualification and is employed as VP Group Corporate Finance in a
I will be glad if this is published.
Kind regards
Chandrashekar Kupperi
9940060273
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