Goods and Services Tax

The data indicates that VAT evasion has been halved. The systematic expansion of electronic transactions, despite some resistance, has significantly curtailed clandestine activities. 

India's growth slumped to 5.7 percent in the first quarter of the financial year, official data showed on Aug. 31, below predictions as a controversial banknote ban dragged further on the economy.

The Indian government on July 1 launched its biggest fiscal reform ever, promising a stronger economy and less corruption, but many businesses said they were confounded by the new single nationwide tax.

Prime Minister Narendra Modi held a special midnight session of parliament to launch the new goods and services tax (GST) which he called "good and simple."

Big corporations manage to avoid paying taxes in Central and Eastern Europe even when rates are as low as they are in Bulgaria, a report by several NGOs in the region has shown.

Bulgaria enjoys one of Europe's lowest individual income and corporate tax rates, a flat 10%.