The paper attempts to measure the incidence of corporate income tax in India under a general equilibrium setting. Using seemingly uncorrelated regression coefficients and dynamic panel estimates, we tried to analyze both the relative burden of corporate tax borne by capital and labor and the...

Anecdotal evidence often suggests that multinational enterprises (MNEs) operating in developing countries “exploit their multinationality” to avoid paying taxes to host governments. This article explores the concept of “responsible tax” as a corporate social responsibility (CSR) issue...

Value Added Tax (VAT) is a type of indirect tax that is imposed on goods and services. In one of the most important reforms of the country’s public finances in over the past 50 years, India has finally launched much delayed Value Added Tax (VAT) from 1st April, 2005 in 21 states. VAT has...

Banking structure is redesigned to make India a fully digital nation and to usher in 100% E-governance.Multi dimensional and multipurpose savings account -- It is the main keel of this restructured banking.Purpose of this multi dimensional account:1. This savings account can be used for...

The Indian Goods and Services Tax (GST) regime recently replaced the earlier laws providing for tax on supplies of goods and services. Under the new regime, transfer pricing rules have been introduced, which were virtually non-existent earlier. The GST regime insists on arm's length pricing in...

The reform process for the indirect taxation regime in India has been ongoing for some time, with the prevailing view being that simplification of tax regime and a principle-laden approach was an essential concomitant in the outlook of a developed nation. Much debate has ensued and during the...

Black money can be totally eliminated if a new tax system called "TOP Tax system" is adopted and implemented by all nations. Excerpt: - We all know that black money is being generated by tax evasion through unreported/shadow/hidden accounts and also by corruption and fake currency. Tax evasion...

Abstract:- 1) This new economic system contains a new tax system without multiple taxes, tax laws, tax collection departments, tax tribunals and tax enforcement agencies. Citizens need not maintain separate account books and submit tax returns annually for paying either Direct taxes on personal...