Tax Policy Research Unit and Tax Policy Council to streamline the taxation policy and administration
Q. Which of the following is/ are the committee/s set up by government to streamline tax policy?
1) Tax Policy Research Unit
2) Indirect Tax Committee
3) Tax Policy Council
4) Tax Administration Council- Published on 03 Feb 16a. 1, 2, 3
b. 1, 3
c. 1, 3, 4
d. All of the above
ANSWER: 1, 3
- Government has set up two new committees namely Tax Policy Research Unit and Tax Policy Council to streamline the taxation policy and administration.
- The TPRU, headed by Revenue Secretary, will carry out studies on various topics of fiscal and tax policies. The Research Unit will also assist the TPC in taking appropriate policy decisions.
- It will be a multi-disciplinary body comprising of officers from the Central Board of Direct Taxes and Central Board of Excise and Customs as well as economists, statisticians, operational researchers and legal experts.
- The Tax Policy Council will help the government identifying key policy decisions for taxation. The council under the Finance Minister will look into all the research findings coming from TPRU and suggests broad policy measures for taxation.
- Chaired by the Union Finance Minister with nine other members including Minister of State for Finance, Niti Aayog Vice Chairman, Commerce and Industry Minister Revenue Secretary and the Chief Economic Advisor, it will also have Finance secretary, Commerce Secretary and Industry Secretary as members. The Council will be advisory in nature, which will help the Government in identifying key policy decisions for taxation.
- The decision to set up Committees has been taken in view of the reports of Tax Administration Reform Commission on taxation reform.
