New Delhi: India has the world’s best tax system, characterised by transparency, rule of law and stability in tax policies, Lok Sabha Speaker Om Birla said on Tuesday.

Due to these policies and laws, companies and people from around the world are eager to invest in India, he asserted.

India has emerged as a favourite investment destination for global investors due to its stable tax policy, Birla said during an address to officer trainees of the Indian Revenue Service (Customs and Indirect Taxes).

Referring to tax reforms, particularly GST, Birla highlighted that recent measures had simplified taxation and brought ease of doing business.

Parliament and government have periodically made improvements to the taxation system, which is why India’s taxation system is today considered one of the most transparent and reliable in the world, the Lok Sabha speaker observed.