Mumbai: An international business report by Grant Thornton, has said that more than than 90 per cent of Indian businessmen are willing to pay more taxes only if the Income Tax department gives some clarity on taxation. They want an unambiguous tax regime.
 
“Understandably companies are eager to get clarity on taxes as the price of being slammed with unanticipated tax claims is not just the tax amount but the time, money and energy spent in defending such claims. Given the media attention tax cases garner these days, Apple, Google and Starbucks are classic examples and closer home Vodafone and Shell, being in the public eye, for all the wrong reasons doesn’t do businesses any good either,” said Pallavi Bakhru, Director, Grant Thornton Advisory Private Limited.

India ranked 1st amongst nations appealing for clarity on ‘acceptable’ tax planning.
 
The report added that the vast majority would actually support paying more in tax in exchange for clearer guidance from tax authorities on what is acceptable tax planning.