Incentive of certainty.

After 15 years of negotiations the G20 came to an agreement to stop base erosion and profit shifting (BEPS) by means of which large multinational companies avoided taxes by shifting their profits to tax havens, wrote Pascal Saint-Amans, former director of the Center for Tax Policy and Administration at OECD. In Pillar 1 "Tax cooperation among tax administrations has become the rule, rather than exception, with the end of bank secrecy," and "a global minimum effective corporate 15% tax rate." "Implementing Pillar 2 will remove the tool of tax incentives to attract investments." The Indian government introduced the Production Linked Incentive (PLI) scheme in support of the Make in India policy in which the government is providing an incentive of Rs 1.97 trillion ($28 billion) to 13 sectors to increase domestic manufacturing and reduce imports. wikipedia. But, "India does not need tax incentives to attract investments." "What it needs is tax certainty." So obsessed is the government with tax that it treats every citizen and taxpayer as a criminal. Every citizen must have a card with a 12 digit identification number, based on photograph, iris scans and prints of all 10 digits, called Aadhaar. uidai.gov.in. Every individual, except perhaps a street beggar, must also possess a permanent account number (PAN), which "is a ten-digit unique alphanumeric number issued by the Income Tax Department." incometaxindia.gov.in. To add to the humiliation, both Aadhaar and PAN numbers must be linked, hdfcbank.com, which allows the most intrusive surveillance of every taxpayer, much worse than any criminal will have to tolerate in other countries. Those who can, escape. "A 2018, bank report found that 23,000 Indian millionaires had left the country since 2014. More recently, a Global Wealth Migration Review report revealed that nearly 5,000 millionaires, or 2% of the total number of high net-worth individuals in India left the country in 2020 alone." ET. "Not for the first, Maruti Suzuki chairman RC Bhargava has pointed out how a heavy tax burden holds our automobile industry back." Mint. Only about 30 out of 1,000 people own cars in India compared to 70 in China. While taxes on sports utility vehicles (SUVs) range from 10-20% in most countries, in India it is 50%. "With Tesla deciding not to set up its manufacturing plant in India after a year of discussions," "At least eight foreign automakers - including General Motors, Fiat and Ford Motor - have left India, the world's fourth largest automobile market, since 2017." Strait Times. At least 64,000 jobs were lost. Now MG Motor, owned by Chinese auto giant SAIC is looking to sell its majority stake in its car business in India. ET. In 2014-15, taxes on petroleum products constituted 22.8% of total indirect tax collections. By 2020-21, this had increased to 39%. TOI. From 2014-15 to 2021-22 the government earned an enormous Rs 23.1 trillion from petroleum taxes. Since the cost of transport increases prices of goods and services, the GST collection in April 2023 was a record Rs 1.87 trillion. pib.gov.in. On the one hand, the government taxes industries to oblivion, while, on the other it gives incentives. As a result, Indians cannot afford a higher standard of living. Will the government lower taxes? Hell, no. High taxes are necessary to distribute handouts. And handouts win elections.