Tax reforms in Budget can boost long-term wealth creation: Anthony Heredia

economictimes.indiatimes.com:

«I think there is a role the industry can play and if there are tax reforms that can help that process, that would be welcome. And in terms of equity, we play a big role in terms of long-term wealth creation for investors and so any tax proposals that help that process will also be, to my mind, a welcome step for the industry,» says Anthony Heredia, CEO, Mahindra Manulife AMC.

Let us start by AMFI's 16-point proposal that has been sent and there are a lot of expectations in terms of rationalising the tax structure and the capital gain structure and what according to you are the pressing issues which are actually highlighted in the 16-point proposal sent to the finance minister from AMFI?
Anthony Heredia: So, I would not put it as concerns. I think the thing that the industry looks forward to firstly continuity of reform of the progress we have seen, so I would say that would be the primary expectation. But we do believe we have a very significant role to play in terms of the ability for corporate bond markets to grow and one of the requests we would have is perhaps a rethink on the tax changes that happened on debt funds a couple of years back.

I think there is a role the industry can play and if there are tax reforms that can help that process, that would be welcome. And in terms of equity, we play a big role in terms of long-term wealth creation for investors and so any tax proposals that help that process will also be, to my mind, a welcome step for the industry.

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