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India’s tax revenue as a percentage of its GDP was 16.7 per cent in 2016, compared with 25.4 per cent in the United States and 30.3 per cent in Japan.
The official said the numbers point to a significant number of people who are liable to pay taxes aren’t doing so.
The government, he said, is shoring up its efforts to check tax evasion.
The November 8 decision to junk old 500 and 1000 rupee notes are one of the steps to tackle the menace, he said adding by mandating people to deposit the old currency in banks was a way to account for the unaccounted money and tax them.
From Agencies, Feature image courtesy financialexpress
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