Fringe Benefit Tax is here to stay, says Chidambaram
NEW DELHI: Finance minister P Chidambaram said the UPA government had left more money in the pockets of taxpayers and consumers, and this policy will continue.
“Every policy promulgation would always leave more money in the pockets of consumers,” he declared. This despite the fact that the effective tax rates in the country were low because of numerous exemptions.
However, the fringe benefit tax, the minister reiterated, was here to stay though it would be simplified by revisiting certain glitches.
On the issue of FDI in retail sector, he said the UPA Government was moving towards consensus with Left parties to open up the retail sector. “I can’t promise a date but we will begin to see consensus on opening up the retail sector in a selective manner,” he said.
SOURCE:THE TIMES OF INDIA
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