One of these could be to reduce the GST rates. We have too many rates, it should be reduced to two rate structure to make it more helpful for the economic recovery to be inclusive.
So, simplifying the GST rate structure can enhance compliance by existing tax base and even expand the tax base, boosting revenues further and giving the government more funds to spend.
So, to summarize - 2 rate structure with lower rates than now. That will make more money available in the hands of people thus driving inclusive growth. Assuming of course that the total collection will at least not fall.
Any other ideas that you had in mind on the same theme of inclusive growth ?
Nice read. Interested to know if you have any solutions in mind for the " fostering a more inclusive recovery" that you mention in the conclusion.
One of these could be to reduce the GST rates. We have too many rates, it should be reduced to two rate structure to make it more helpful for the economic recovery to be inclusive.
If you don't mind, can you elaborate how a 2 rate structure will help an inclusive economic recovery.
Is that by keeping the total GST collection the same or letting it go down ?
So, simplifying the GST rate structure can enhance compliance by existing tax base and even expand the tax base, boosting revenues further and giving the government more funds to spend.
So, to summarize - 2 rate structure with lower rates than now. That will make more money available in the hands of people thus driving inclusive growth. Assuming of course that the total collection will at least not fall.
Any other ideas that you had in mind on the same theme of inclusive growth ?