Shome back as FinMin advisor

Last Updated: Fri, Dec 07, 2012 07:40 hrs

pRenowned tax expert Parthasarathi Shome has been appointed adviser to Finance Minister P Chidambaram The appointment comes at a time when the ministry is struggling to rein in the fiscal deficit at the targeted level of 53 per cent of gross domestic product for the current financial yearppShome writes a monthly column for Business Standardpp&ldquoDr Parthasarathi Shome has been appointed adviser to finance minister in the rank of minister of state co-terminus with the period of office of the finance minister&rdquo an official statement said on ThursdayppShome had held the same post from October 2004 to January 2008 Even then he was adviser to Chidambaram In that stint he played a crucial role in facilitating state-level value-added tax and initial discussions on goods and services tax Known for tax reforms Shome was the brain behind then fringe benefit tax and banking cash transaction taxppLater he joined Her Majesty&rsquos Revenue & Customs in the UK as chief economist from January 2008 to January 2011 Then he moved to the Indian Council for Research on International Economic Relations Shome was professor of economics at American University Washington from 1975 to 1983 He also worked with the International Monetary Fund from 1983 to 2004 in various capacities He has provided technical assistance to about 30 countries in Africa Asia Europe and Latin America and been credited with tax reforms in Brazil Shome is a PhD from Southern Methodist University has Masters degrees from University of Rochester 1973 and Delhi University 1972ppHis latest work includes a book Tax Shastra which is a comparative account of the tax administrations of three countries &mdash India the UK and Brazilp

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