IRS Officers Recommended Finance Ministry to Tax Super Rich, Foreign Companies to Help Pay for Economic Fallout of Coronavirus? Government Quashes Fake Reports
Prime Minister Narendra Modi-led Union government had brushed aside the idea of taxing the super rich and foreign companies to help pay for the coronavirus economic fallout. The idea was shared to the Centre by a group of Indian Revenue Service officers, but the government stated that this did not reflect official views.
Mumbai, April 27: Prime Minister Narendra Modi-led Union government had brushed aside the idea of taxing the super rich and foreign companies to help pay for the coronavirus economic fallout. The idea was shared to the Centre by a group of Indian Revenue Service officers, but the government stated that this did not reflect official views and never asked IRS Association to prepare such a report.
Replying on the reports of IRS officers suggesting such measures to tax rich, Union Finance Ministry on Saturday quashed it by stating that Central Board of Direct Taxes never asked IRS Association or these officers to prepare such a report. Also, the Union Ministry said that the government officials had taken permission before going public with their personal views and suggestions. In the last tweet, the Finance Ministry reiterated that the impugned report does not reflect the official views of CBDT/Ministry of Finance in any manner. Homeopaths Permitted by Ayush Ministry to Treat COVID-19 Patients? PIB Fact-Check Debunks Fake News Going Viral on WhatsApp.
Here's the tweets by Union Finance Ministry:
So the reports of Indian Revenue Service (IRS) recommended raising the highest tax rate to 40 percent for people with annual income above Rs 10 lakhs ($131,130) is partially false. The Union Finance Ministry had, however, said that an inquiry was being launched into why the report was shared with the public.
Fact check
Group of Indian Revenue Service officers suggested Union Finance Ministry taxing the super rich and foreign companies to help pay for the coronavirus economic fallout.
Union Finance Ministry quashed it by stating that CBDT never asked IRS Association or these officers to prepare such a report. It added that impugned report does not reflect the official views.
(The above story first appeared on LatestLY on Apr 27, 2020 03:07 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).