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Digital Economy Good, But Tax Compliance Also Important: Ravi Shankar Prasad
May 02, 2017
IT and Law Minister Ravi Shankar Prasad had a meeting with the tax administrators and practitioners yesterday during which he emphasized that although pushing digital technology is a welcoming move, it should not negate the importance of tax compliance.
Prasad said that we are creating a “big ecosystem of digital economy”, adding that the Indian digital economy is going to cross USD 1 trillion mark within the next five years, which is why the taxation system must be kept in mind as well. There will be issues concerning tax compliance, borders, etc. and the administrators should prepare themselves for the change and give feedback on how digital economy can be pushed without compromising with tax compliance.
