Last year, the tax collections improved significantly and the central taxes-to-GDP ratio reached 11.5%, which is one of the highest in over a decade, revenue secretary Tarun Bajaj said in an interaction with TNIE.
He reiterated that there is a need to improve the tax-to-GDP ratio considerably, but also admits that 11.5% (tax-to-GDP ratio) will not jump to 14% in one year.
"But we are moving towards that as our GDP grows and per capita income grows, we will see more people paying taxes and our tax-to-GDP ratio would go up," the revenue secretary said.
This story is from the November 30, 2022 edition of The Morning Standard.
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This story is from the November 30, 2022 edition of The Morning Standard.
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