Argument for taxing 'very rich' should be considered: FM

January 24, 2013 12:52

Finance Minister P Chidambaram, who has talked about a stable tax regime during his meetings with foreign investors in the last two days, has said that the argument for taxing the very rich 'a little more' should be considered.

"I believe in stable tax rates. However, I must concede that there is an argument, underline the word argument, that when the economy requires, when the government requires more resources, the very rich should willingly pay a little more".

"That is not to say that the tax rate should not be stable. I think we should have stability in tax rates but we should consider the argument whether the very rich should be asked to pay a little more on some occasions," he told CNBC-TV18.

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