Monday January 22, 2018
Home Politics Tough days fo...

Tough days for those involved in illegal transfer of money across the border: Arun Jaitley

0
//
47
Republish
Reprint

arun_9

By NewsGram Staff Writer

Speaking at a Enforcement Day function in Delhi, Finance Minister Arun Jaitley said that it will be harder days for those who indulge in illegal and illicit transfer of money across the border.

“World is moving towards transparent regime making it difficult to hide an illicit transfer of money through internet or other modes,” Jaitley said.

The Finance Minister also said that the world economy has moved quite closer in recent years and the countries across the world have decided through G-20 and other international forums to cooperate and coordinate with each other in such cases.

Talking about the issue of black money, Jaitley said that the present government has taken various steps to squeeze the black money including undisclosed assets within and outside the country.

“Our focus is on reasonable tax rates and ease of doing business for incentivizing people to abide by laws and avoid evasion of taxes etc,” Jaitley said.

The government in March had introduced “Undisclosed Foreign Income and Assets (Imposition of Tax) Bill, 2015” which provides for heavy penalty and stiff punishment of up to 10 years for stashing unaccounted funds abroad.

Click here for reuse options!
Copyright 2015 NewsGram

Next Story

GST Council Actively Discusses Relief Measures for Traders and Quarterly Return Filing

The state Finance Minister said that the Council was discussing the issues being faced by small traders.

0
//
37
gst
Goods and Services Tax (GST) Council is actively discussing relief measures for traders, (ians)

New Delhi, October 6, 2017 : The Goods and Services Tax (GST) Council is actively discussing relief measures for traders, including quarterly return filing and increasing threshold limit for Composition Scheme, sources said on Friday.

“Council members requested quarterly return filings for businesses with turnover less than Rs 1.5 crore,” a Council member said on the sidelines of its ongoing meeting.

The state Finance Minister said that the Council was discussing the issues being faced by small traders.

Raising the threshold limit for Composition Scheme from the current Rs 75 lakh to Rs 1 crore is also under discussion.

“Rs 1 crore threshold in the Composition Scheme is also supported by the GST Council members,” he said. (IANS)

Next Story