The US-India Strategic Partnership Forum (USISPF) has released its recommendations on tax amendments for the 2023-2024 Union Budget, to be presented on February 1st, 2023, by the Honorable Finance Minister, Ms. Nirmala Sitharaman.
USISPF has a dedicated initiative to understanding tax laws, and regulatory policies in India through the US India Tax forum.
This platform allows Government of India policymakers, global tax experts, and the business community at large to engage and advocate for a tax environment that is both conducive to making India an attractive investment destination and helping investors understand the complexities of the tax laws.
The tax forum was honored to be invited to present recommendations to the Ministry of Finance, with the industry recommendations for Budget 2023.
The Forum's recommendations touched on advocating for a stable and predictable tax environment, improving the ease of doing business environment, rationalization of the cost of doing business, and rationalization of tax rates and tariffs.
The Union Budget 2023-2024 will be presented at a time when major economies around the world are experiencing recessionary and inflationary trends. However, the Indian growth story is expected to tide over global headwinds on the back of resilient domestic growth and recovery, post-pandemic.
The business community at large expects the next Union Budget to bring in measures to trigger growth across sectors by bringing in tax efficiency measures.
About the U.S.-India Strategic Partnership Forum (USISPF) The US-India Strategic Partnership Forum (USISPF) is committed to creating the most powerful partnership between the United States and India.
As the only independent not-for-profit institution dedicated to strengthening the U.S.-India partnership in Washington, D.C., and in New Delhi, USISPF is the trusted partner for businesses, non-profit organizations, the diaspora, and the governments of India and the United States.
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