NBR Developers
Citiescities-arrow
  • more-arrow-down
    • Please wait while loading other cities loading...

Raise property taxes to mobilise funds for inclusive growth

  • No. 1 Property Portal in India
  • Over 25 Lakhs Apartments and More
  • Post Free Residential Properties in India
  • Find Property in Bangalore
  • Buy/Sell/Rent Apartments in India
  • Search Latest Residential Property in India
  • Get Free Alerts on Property Requirements
  • Find Agents/Buyers for your Property
mobile-ad
By raising property taxes, the Government can mobilise resources to realise the goal of ‘inclusive’ development, non-Government organisations such as Oxfam, Christian Aid and the Centre for Budget and Governance and Accountability have suggested.
India mobilises the lowest magnitude (0.44 per cent) of property taxes, which usually includes wealth, inheritance and municipal property taxes, among all the BRICS nations (Brazil, Russia, India, China and South Africa), the organisations said at a joint press meet here to discuss the forthcoming Budget.
From 2000-01 to 2007-08, property taxes contributed on an average 15.1 per cent of the total tax revenue in the US, 5.8 per cent in South Africa, 5.1 per cent in China, 4.87 per cent in Russia and 4.25 per cent in Brazil, they said.
“Not just the developed countries, even other developing countries such as Brazil, China, South Africa, Argentina and Turkey have a higher tax-GDP ratio than India…It is imperative that India’s tax revenue mobilisation is stepped up and we rely more on direct taxes instead of indirect taxes, which are regressive because they affect the rich and poor alike,” said Nisha Agrawal, CEO of Oxfam India.
John Suresh Kumar of Christian Aid said there was need to review and rationalise exemptions in the tax system, which were estimated to be worth 6 per cent of GDP in 2011-12. “Tax breaks should be project-specific, and should not be treated as a ‘cost-saving’ source for corporations seeking sustained tax holidays,” he added.
Subrat Das, Director of the Centre for Budget and Governance Accountability, said although discussions were said to be in progress to amend India’s Double Taxation Avoidance Agreement (DTAA) with Mauritius, a comprehensive review of all such agreements was needed to understand the revenue implications and extent of ‘treaty shopping’ taking place
The organisations said by taking these measures India could easily raise up to 20-25 per cent of GDP as tax revenues, the amount necessary to deliver the objectives of faster, inclusive, and more sustainable development.
Source: Hindu

Property Listings

Apartments, Flats and Property for Sale in Delhi

Apr 11, 2016
Mayflower is a super luxury property for elite buyers/HNI's in Mayfair Garden,South Delhi which is a top posh green & gated neighborhood..
Feb 29, 2016
Delhi Heights Multistate CGHS Limited an emerging real estate builder in Delhi offering Royal Homes Residential Projects in Delhi in 2 BHK + 2T, 2..
Feb 27, 2016
Delhi Heights offers 2 and 3 bhk apartment in..
Jan 31, 2016
Independent Corner NE On Road Facing Fully Ventilated with abundant sunshine and water facility flat with clear..
Jan 31, 2016
1BHK/Shop/Godown/Office Ground Floor 2 Side Open Corner On Road KishanGarh Tri Junction NE Facing 750 Sq Feett Separate Water/ Electric Meters..
Dec 11, 2015
3 Bedroom apartment for sale in L Zone Dwarka, New Delhi with super area 1350 sq ft. The project site is located at a short distance from Dwarka..
Sep 23, 2015
Revanta Smart Homes is a vibrant realty society with a vision for quality and on-time delivery. It houses all the basic facilities within the..
Nov 17, 2014
Lodha Palava city strategically located right in middle of Thane-Kalyan,Dombivali & Navi Mumbai. the first time in India that an..
spacer

Apartments, Flats and Property for Rent in Delhi

Jul 04, 2016
2 BHk FLat on rent fully independent flat with almirah modular kitchen ,tiles flooring, with..
Feb 09, 2016
"A house is made of walls and beams but a home is made of love and dreams." We realize the value of the feeling of being at..
Feb 09, 2016
"A house is made of walls and beams but a home is made of love and dreams." We realize the value of the feeling of being at..
Feb 09, 2016
A house is made of walls and beams but a home is made of love and dreams." We realize the value of the feeling of being at home Our new..
Feb 09, 2016
"A house is made of walls and beams but a home is made of love and dreams." We realize the value of the feeling of being at..
Feb 09, 2016
"A house is made of walls and beams but a home is made of love and dreams." We realize the value of the feeling of being at home..
Feb 05, 2016
Woodpecker Apartments features fully furnished apartments (Bed & Breakfast) only 3 Rooms, with free Wi-Fi and kitchen facilities.It..
Feb 05, 2016
For Rent Newly Built Second Floor Four Bedrooms Attached Bathrooms, Drawing, Dining, Modular Kitchen equipped with Cooking Gas, Electric Chimney,..
Nov 25, 2015
Nicely Build IIIrd Floor Having 3 Bedrooms Attached Bathrooms, Drawing-Dining, Modular Kitchen, Cooking Gas, Car Parking, Lift, Covered Area 1600..
Nov 25, 2015
For Rent at Defence Colony, Newly Built Flat on Second Floor, 4 Bedrooms Attached Bathrooms, Drawing-Dining, Modular Kitchen, Car Parking, Lift,..
spacer
spacer
spacer
spacer
spacer