Finance Minister Arun Jaitley pitches for lower tax rates

Mumbai: Finance Minister Arun Jaitley on Monday strongly backed lower tax rates in country as the $2 trillion world’s fifth largest economy widens its tax base.

Jaitley was speaking at the inaugural session of professional training for new batches of Indian Revenue Service officers in Faridabad near New Dehi.

Finance Ministry quoted Jaitley as saying, “Taxes have to be globally competitive. Many economies while they develop, payment of taxes is part of citizens' duty."

He added that officers to have a high level of integrity, honesty, sincerity and do hard work with eagerness to learn new things.

He exhorted tax authorities to reciprocate tax payers who pay their dues on time voluntarily with a tax friendly administration.