A group of Indian Revenue Service officers have recommended taxing the super rich, and foreign companies, to help pay for the coronavirus economic fallout, but the government brushed off the idea, saying it did not reflect official views.
Some 50 officers of the Indian Revenue Service recommended raising the highest tax rate to 40% for people with annual income above 10 million rupees or a wealth tax for those with net worth of 50 million or more in a report sent to the Central Board of Direct Taxes and shared on Twitter on Saturday.
Finance Ministry sources said that neither IRS Association nor any group of officers mentioned in report were ever asked by the government to give any report on the subject. It was not part of their duty to prepare such a report and taking personal views to the media constituted an act of indiscipline, the sources said.
The revenue generated by the proposals should be used for specific projects identified by the government and aimed at having a decisive impact on reviving the economy, the report added.
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