5 ideas for new FM to end "tax terrorism"
Ruling party BJP's election manifesto promised a slew of radical changes to both tax policy and approach to tax disputes. BJP accused the UPA govt. of unleashing 'tax terrorism' and 'uncertainty', thereby creating anxiety amongst the business class and negatively impacting the investment climate. It also called for a 'non-adversarial', 'conducive' tax environment and a tax policy roadmap, that would include a simplified tax regime and an 'overhaul' of the dispute resolution mechanism.
So what are the immediate steps that the new Finance Minister Arun Jaitley needs to take, so as to put an end to 'tax terrorism' and bring back foreign investors?