Addressing chartered accountants on the foundation day of Institute of Chartered Accountants of India (ICAI) at the Indira Gandhi Stadium in Delhi, PM Modi said there had been a record 45 per cent drop in deposits by Indians in Swiss banks.
A day after the GST was rolled out in the Central Hall of Parliament, Modi said that the tax reform would help weed out black money.
"Nation's growth is dependent on clean tax regime. GST and demonetisation are key steps in that direction", he added.
HIGHLIGHTS OF MODI's SPEECH
Chartered accountants are the pillars of the Indian economy. Indian CAs are recognised globally.
The CA (chartered accountant) community looks after the economic health of society.
Just like doctors don't want people to be ill to get more business, CAs too need to safeguard society's economic health.
CAs have a big responsibility to ensure that the society's economic health remains good.
Demonetisation was a big step in the history of India.
Demonetisation, data mining shows that over 3 lakh registered companies indulged in suspected dealings.
Impact of our steps to check black money is clear from the latest figures of Swiss banks, where Indians' money has dipped to a record low.
Swiss Bank has stated that there has been a 45 per cent drop in deposits by Indians, the lowest ever in years.
People with black money will face more difficulties when Switzerland begins automatic information exchange with India in 2 years.
Those who have looted the poor will have to give back what they have looted.
On the one hand, there is a Swachh Bharat Abhiyaan and on the other, there is a movement to clean the nation from the menace of corruption.
Government is committed to taking more tough action against firms helping in hiding blackmoney; we are not concerned about political implications.
Government has cancelled registration of over 1 lakh companies and more than 37,000 shell firms have been identified for strong action.
Chartered accountants who know anyone keeping black money must warn them that they would not be spared.
CAs must encourage their clients to be honest taxpayers.
Two years from now when Swiss Banks start giving real time data, people who deposited money in foreign banks will face a tough time.
Like the lawyers did during the freedom struggle, I urge the CAs to take the lead in the journey towards India's economic growth.
Let's contribute towards India in making it what we want it to be, by the 75th year of independence in 2022.
The trust of a chartered accountant carries immense faith. I urge you not to break that trust that is placed on you.
If the chartered accountants commit to ensuring transparency, I am sure no one will dare to evade paying tax.
 at the Indira Gandhi Stadi...){kind=link}
Post a Comment