Economy News

5Rs of Responsive Tax Governance

August 2 , 2026 9 hrs 0 min 57 0

The Union FM Sitharaman outlines 5Rs of responsive tax governance.
The 5Rs of Responsive Tax Governance are Recognize, Respond, Redress, Reflect and Reform.
The Union Finance Minister reiterates fair, efficient, transparent and taxpayer-centric administration.
She was also calling for greater tax certainty and reduced litigation to strengthen taxpayer confidence and support India’s economic growth.
The Union Finance Minister also released six flagship publications of the Income Tax Department.
These included:
- Avlokan, the inaugural Annual Report of the FT&TR Division highlighting India's growing leadership in international taxation;
- The Manual on Exchange of Information; the updated Guidance Note on FATCA & CRS;
- India's first comprehensive Guidance Note on Crypto Asset Reporting Obligations for Crypto-Asset Service Providers;
- The Annual Report of the APA Programme, showcasing the programme's progress; and
- Re-engineering Tax Governance, tracing the Department's journey of transformation from paper-based processes to an integrated, technology-driven and taxpayer-centric digital ecosystem.