The State government will soon come out with a uniform taxation policy incorporating common tax rate and guidelines for industries in urban and rural areas.
Announcing this at a press conference on Saturday, Minister for Large and Medium-Scale Industries Jagadish Shettar said this is a significant step taken by the State government keeping in mind the industries and entrepreneurs, who have been complaining about the difference in tax rates levied by local bodies in urban and rural areas. “This anomaly will be set right in the interest of the industrial growth. Also, tax payment will be facilitated through a single portal,” he said.
“Entrepreneurs and industry bodies have been requesting the government to address the confusion regarding tax collection through city municipal council, corporations and gram panchayats. In this regard, to make sure the growth of industrial sector is not stunted, the State government has come forward to draft a policy to introduce uniform tax collection,” Mr. Shettar said.
“Several industries are being taxed even though the land allotted has not been transferred to them. The government has taken note of increasing tax burden on these industries and has decided that they must not be levied taxes before handing over of the land allotted for industries,” he said, adding that a proposal will soon be placed in the Cabinet.
“The new industrial policy is on the last leg of preparation. It will be submitted to the Cabinet after obtaining permission from departments concerned,” he said.
To encourage industrial development in tier-2 cities, Invest Karnataka will be held in Hubballi in the second week of February. In the second phase, investors’ meet will be held in Belagavi, Mysuru, Davangere, and Shivamogga, he said.
The new dates for State-level investors’ meet, which was supposed to be held in January, has been discussed with Chief Minister B.S. Yediyurappa. The dates will be finalised soon, he added.
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