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Monday, Dec 13, 2004

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Industry & Economy - Taxation


`VAT will help improve revenue'

Our Bureau

MANGALORE: Tax reform in India is long overdue, according to the former Chairman and Managing Director of Syndicate Bank, Dr N.K. Thingalaya.

Inaugurating the executive development programme on value-added tax (VAT), organised by the Justice K.S. Hegde Institute of Management, in Mangalore on Saturday, he said that the introduction of VAT would help in bringing down the prices of several commodities by 10 to 20 per cent. Introduction of VAT in Haryana, on an experimental basis, has helped the State earn 30 per cent more revenue, he said, adding that VAT should be introduced as a part of the reforms structure.

Stating that expenditure of the State should not be more than one-fourth of the revenue, he said "however, today expenditure in most of the States is more than the revenue.

The Director of Justice K.S. Hegde Institute of Management, Nitte, Dr M.S. Moodithaya, presided over the function.

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