Making VAT system robust: Introducing multiple rates

The idea of Value Added Tax (VAT) was conceptualised by a German industrialist, Von Weildheim Siemens, in 1918. In those days, tax on tax was a major concern in the taxation arena. To remove the problem of tax on tax, he gave the idea of crediting tax paid on inputs...

AI for better management of banking operations

The other day, this writer was talking with a banker about the various ways through which fraudsters use fake land documents to get loans approved. The banker said that the chain of title and land deeds is matched discreetly. The prevalence of fraudulent activities has been a part and parcel...