Latest Expert Exchange Queries
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
 
 
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Service Tax | Sales Tax | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Indirect Tax | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing
 
 
 
 
Popular Search: Central Excise rule to resale the machines to a new company :: ACCOUNTING STANDARD :: TDS :: ARTICLES ON INPUT TAX CREDIT IN VAT :: articles on VAT and GST in India :: VAT Audit :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: cpt :: due date for vat payment :: ACCOUNTING STANDARDS :: empanelment :: TAX RATES - GOODS TAXABLE @ 4% :: list of goods taxed at 4% :: VAT RATES :: form 3cd
 
 
« News Headlines »
 How to use zero tax rule on long term capital gains on stocks
 GST Returns - Furnishing details of inward supplies
 5 ways to maximise you income tax return
 Income-tax (2nd Amendment) Rules, 2017
 Soon, Faster PAN, An App For Filing Tax Returns
 Changes in income tax return filing process
 New Income Tax Rates And Deductions Applicable From April 1, 2017
 Tax and transparencya
 No decision yet on imposing tax on cash transactions
  Mentioning of Minor Head Code for accounting of Refund
 Mentioning of Minor Head Code for accounting of Refund

Improve methodology for ranking ease of paying taxes
May, 13th 2008

The Chairman of the Prime Minsters Economic Advisory Council, Dr C. Rangarajan, has taken issue with the World Bank over the methodology used in the latters Paying Taxes 2008 study, which ranked various countries in terms of ease of paying taxes.

India was ranked 168 among 178 countries. The corresponding rank for Pakistan was 146, Sri Lanka 158 and Bangladesh 81.

We feel there are serious shortcomings in the methodology used by the World Bank study in making these rankings. Besides the judgments made in the choice of the firm, taking the number of tax payments and time spent with tax payments is far too simplistic, Dr Rangarajan said in his address at the Fifth Asia Tax Forum, jointly organised by the Union Finance Ministry and the National Institute of Public Finance and Policy here on Monday.

The Paying Taxes 2008 report showed that businesses find significant hardships in paying taxes in South Asian countries in general and India in particular.

Dr Rangarajan said that the rankings generated from the methodology used raises doubts.

I am not trying to find fault with the rankings, but I want the methodology to improve, he told Business Line.

The World Bank study had concluded that there was a win-win opportunity for governments and firms if governments simplify tax systems, ease the compliance cost on business and reduce tax rates.

The Paying Taxes study involved gathering information on the tax affairs of a standards case study company in 178 countries, by reviewing the financial statements and a list of transactions of a standard modest-sized firm.

The information was used to generate three indicators related to the number of tax payments, the time taken to comply with its tax affairs, and the tax cost.

These were equally weighted to produce an overall ranking for each country for the ease of paying taxes.

Dr Rangarajan also stressed the need to re-visit the tax structure on oil products in the wake of rising international crude oil prices. However, later he clarified that this was stated in the context of carbon tax and the environmental aspects.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Content Management System development CMS development Content Management Solutions CMS Solutions Content Management Services CMS Services CMS Software

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions