A group of Indian Revenue Service officers have prepared an unsolicited report on recommendations in response to COVID-19, which is titled FORCE 1.0 (Fiscal Options & Response to COVID-19 Epidemic). The recommendations put forward in the report include:
- A higher rate of income-tax (40% plus surcharge) or re-introduction of wealth tax;
- An increased surcharge on foreign companies;
- The introduction of an additional one-time cess of 4% for COVID-19 relief
- The introduction of a Base Erosion A…