Events : Economic, Development & Social Issues

Panel Discussion on "Taxation and Financial Reforms in India"

Held on Wednesday, 26th April, 2017 at 6.30 PM

Bangalore International Centre had arranged a panel discussion on “Taxation and Financial Reforms in India” on Wednesday, 26th April, 2017, at 6:30 pm at its Auditorium. The panelists present were Dr. Parthasarathi Shome, Chairman, International Tax Research and Analysis Foundation, Bangalore and Dr. Anup K Pujari, Former Secretary, Govt. of India and Former Chairman, Steel Authority of India.
Dr. Shome had recently published a book titled “Development and Taxation: 60 Critical Commentaries”. His book was launched at Bangalore on 26th April by Mr. B K Bhattacharya, former Chief Secretary, Government of Karnataka.

Dr. Parthasarathi Shome, discussed with Dr. Anup K Pujari, on the broad theme of taxation and financial reforms in India. The dialogue focused on several taxation-related issues which impact on financial reforms strategy in our country, and several other issues related to economic policy, demographic dividend, palliative care, Swatch Bharat, Indo-British History, Brexit, and many other relevant issues.

Dr. Shome spoke at length on issues like the difference between VAT and GST, the lack of coordination between agencies of the Government (CBDT, CBEC, ED etc) which often lead to tax evasion and Black Money, the technical glitches in the Aadhar architecture which impede a smooth transition to digital economy, etc. He was gently prodded, and often provoked, by Dr. Anup Pujari from time to time during the discussion.
During the Q & A session, Dr. Shome clarified in some detail the subtleties of the International Law on taxation while dealing with the Supreme Court judgement on the well-publicised Vodafone case where the Court had ruled that the demand made by the Income Tax Department was contrary to International Law. This in turn infuriated the IT authorities, which led to the highly regressive law to permit retrospective taxation. Dr. Shome took some paid to explain the implications to bring out the regressive elements in that legislation.
Earlier, the book was ceremonially launched at Bangalore by Mr. B K Bhattacharya, former Chief Secretary, who warmly congratulated Dr. Shome on the book and commended it to all.
It was a well-attended event in which leading taxation experts were present.