TARC to assist Indian Finance Ministry
The Indian government recently constituted the Tax Administration Reform Commission (TARC) with a view to reviewing the application of Tax Policies along with the Tax Laws in India in the context of the best global practices.
The prior motive behind setting up TARC is to work as an advisory body to the Ministry of Finance and recommend some vital tips for the reformation which are urgently required in Tax Administration for its efficiencies and effectiveness.
TARC chairman Parthasarathi Shome said, "We will review the organizational structure and will recommend appropriate enhancements with special reference to the deployment of the workforce, commensurate with a functional requirement."
Shome added, "We will emphasize hugely on existing business process of Tax Administration, including the use of communication and information technology and will recommend measures which will be the best in Indian context."
The commission had visited three major stations across the country till now in order to hold consultations with stakeholders.
The focus of the commission is totally on tax administration reform, not on general tax policy and legislation, where they can provide with inputs on various tax related issues, the Finance Ministry informed.
"Tax Administration Reform Commission announced the previous year's budget which will submit its first report to the government latest by end of May," Shome said.
(Posted on 22-02-2014)