India needs lower taxation levels to be competitive: Jaitley
Faridabad (Haryana) [India], Dec. 26 (ANI): Finance Minister Arun Jaitley on Monday said India needs to move to a lower level of taxation to be globally competitive.
"What you need is lower level of taxation, to provide services more competitive in nature. Competition is not domestic, it is global. This is one important change you will witness while you will be in service," Jaitley said at the inauguration of professional training of 68th Batch of IRS (C&CE) Officers here.
He further said that the India that is foreseen in future decades will be the one where voluntary compliances will have to increase and added that it will bring a change in the mindset of the tax payer accepting the legitimate of taxes as a responsibility.
"We've lived through last seven decades in India under the impression that if avoidance could be done of government revenue, there wasn't anything immoral about it," he said. (ANI)