Former Delhi chief minister Arvind Kejriwal on Monday unveiled the Aam Aadmi Party’s vision for the trading and enterprise community of Delhi and promised that after being voted to power in the state, the AAP government will create an atmosphere conducive to business and entrepreneurial activity. Kejriwal addressed a meeting organised by the party’s trade wing, which envisions Delhi as a sales and distribution hub. The AAP trade wing aims to make the national capital an important trading centre and a business friendly state with developed roads and infrastructure, a simplified and practical tax system, which will only be possible when Delhi will have an accountable, transparent and corruption free-government. The AAP is committed to establish Delhi as India’s biggest and greatest services hub and trading zone. The first step towards improvement is to recognize the existing problems. The Income Tax, Value Added Tax (VAT) and other tax laws are confusing and complicated, clearance is needed from multiple ministries and the government is perceived as unfriendly towards industry. The AAP aims to address all these problems. Our trade and industry policy will be based on the following ideas: · Facilitating greater trade within Delhi by having trader-friendly policies : o Streamlining rules and regulations for running and establishing industry. o Simplifying licensing procedures. Single window clearances. · Simplifying VAT and other tax structures of Delhi to ensure tax compliance. The VAT rates in Delhi will be made the lowest in the country. · Easy tax filings and assessments with well-defined streamlines procedures. · Providing better facilities like roads, water and electricity in Delhi’s Industrial Areas. · Incentivizing entrepreneurship by providing capital at low rates and creating startup incubators. · Establishing a large number of vocational training institutes in Delhi. · We will revive wholesale trade in Delhi. · AAP government will continue with its decision of not allowing Foreign Direct Investment (FDI) in Retail in Delhi · There will be minimum interference from the government · Streamlining rules and regulations for running and establishing industry. Simplifying licensing procedures · Providing training and low-interest loans to young entrepreneurs wanting to set up industries AAP Policy for Traders : · Routine VAT raids will be shut down. Only in cases of unprecedented corruption and other exceptional situations, and approved by the highest officials will VAT raids be conducted. · Simplification of VAT rules, processes and forms. 30 pages of VAT forms will be made into one simple page for traders. · All transactions will be online. Traders will forget where the VAT office is. Reduce the interface with Delhi government. Licenses can be applied for and received at home. This will reduce the avenues and opportunities for corruption. · We will ensure that starting a trade or business in Delhi takes at the maximum one week in total. · Stakeholder participation of traders in any formation of Delhi trade policy will be made mandatory. · Parking fee have been charged off many traders but they have not received any facilities, these will be provided as a right for those who pay such fees. · One portion of the VAT from every locality and market will be used for the maintenance and upgradation of that market to foster future business and trade.
Posted on: Tue, 30 Dec 2014 13:10:59 +0000