Fringe Benefit Tax in the current form is not an effective revenue raising tool.
New Delhi: Finance ministry sources tell Network 18 that fringe benefit tax may finally be scrapped.
They say that FBT yielded less than two per cent of direct tax collections for Financial Year 2009 and that Cost of Administration for FBT is disproportionately high.
They also say that Fringe Benefit Tax in the current form is not an effective revenue raising tool.
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