Why pay taxes in India is a symbol of status?

India identity transaction entrepreneur

tengxuncaijing· 2017-02-09 00:28:59

The government of India

announced last week that the India annual income of 250000 rupees (about 25530 yuan) to 500000 rupees (about 51060 yuan) between the income tax rate from 10% down to 5%, which means that there are 20 million Indians will pay a tax cut in half.

" in India mainly indirect taxation, the implementation of the tax system, which mainly reflected in the tax income tax, turnover tax and property tax on. India's preferential tax policies focus on the areas of state support and guidance. The income tax rate in India is not determined by the income tax act, but by the annual financial act.

" so the income tax rate from year April 1st income tax provisions, and every year changes in personal income tax from eleven 1973-1974 years of progressive rates 10%-85%. Since 1991, India began to make snap reform of the personal income tax, the main content is to lower the tax rate and improve the deduction. According to the 2005-2006 government budget personal income tax threshold increased to 100 thousand rupees, and the level of tax rates were adjusted accordingly.

" in addition, the elderly, women and especially in remote and difficult areas to threshold have varying degrees of float, the purpose is to protect the vulnerable groups. Comprehensive calculation of the monthly tax threshold in India about 2500 yuan or so, but the income level of Indians is very low.

" according to the world bank data released in 2014, the average wage of Indians is less than 1000 yuan; in addition to India's "economic times" by the end of 2015 92% of India's rural family the highest monthly income of less than 10000 rupees (about 997 yuan). About 75% of rural households said the family members of the highest income of not more than 5000 rupees (about RMB 498).

" so India 2500 yuan threshold is still relatively high, so can pay fewer people in India. According to the latest data from the CNBC, about 28 million 700 thousand Indians filed a tax return, but none of them paid any taxes, so only about 12 million 500 thousand of them paid taxes on the basis of. This means that in 2013 the total population in India (1 billion 230 million) in the proportion of the population was only about 1%.

data also show that the number of taxpayers in India has increased 25% from 2011 to 2012, (in addition to the 2013 fiscal year outside). From 2014 to 2015, the number of taxpayers in India increased from three years ago to $40 million, or $50 million.

due to a relatively small number of people to pay taxes, so in India to pay a tax is a symbol of identity in. Because the proportion of people who pay less, so the proportion of tax revenue in India GDP is relatively low. According to the official statistics of India in 2015, a tax payment of less than 2.4% of India's GDP, the total tax revenue accounted for only about of the current GDP of about.

for the current India government, low tax level is a challenge. Right now, the India government plans to boost infrastructure and science and technology, the need for money. As a result, India is heavily dependent on indirect taxes, and the government, led by Prime Minister Modi, has been trying to change that. Official data show that this dependence has fallen from 5.47% in 2008 to 5.93% in -2016 in 2015.

" is one of the main crowd of small entrepreneurs in India city residents, they are typical of the middle class in India, is also the most active part in the national economy of India. India merchants in order to evade taxes, often using the "no invoice less money" way of trading. India tax department to deal with this method is both in the consumer sectors, namely the investigation of the business person in charge of the expenditures. If the income and expenditure of serious discrepancies, it will add a punitive tax.

" the India government's high debt ratio, public expenditure, India's infrastructure is relatively backward, partly because India tax revenue is less. New Delhi newspaper reported that due to land acquisition problems and lack of funds, in the past two years, India highway construction process has been postponed. In addition, India ports, railways, airports and other facilities are also very backward. For India, the infrastructure construction lagged behind the development of demand, the economy has been the construction of the "ills".

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