New Delhi: Governments across the world have gained "substantially" from the airline industry, earning an estimated $121 billion in tax revenues this year alone, but the aviation sector's importance is "not well understood" by many of them, the International Air Transport Association has said.
This has forced global airlines' body IATA to appeal to the governments, including the Narendra Modi-led dispensation in India, to slash taxes, restrain private airport operators from levying high charges and relax "excessive" regulations in the aviation industry to maximise its full potential to generate economic growth.
The governments have "gained substantially from the good performance of the airline industry. Airlines and their customers generated an estimated $121 billion in tax revenues this year", IATA's chief economist, Brian Pearce, said at the just-concluded World Air Transport Summit in Doha.
Total global tax revenue generated was almost half of the gross value added by the industry paid to governments in payroll, social security, corporate and product taxes.
Read news in full 08/06/14 PTI/NDTV
This has forced global airlines' body IATA to appeal to the governments, including the Narendra Modi-led dispensation in India, to slash taxes, restrain private airport operators from levying high charges and relax "excessive" regulations in the aviation industry to maximise its full potential to generate economic growth.
The governments have "gained substantially from the good performance of the airline industry. Airlines and their customers generated an estimated $121 billion in tax revenues this year", IATA's chief economist, Brian Pearce, said at the just-concluded World Air Transport Summit in Doha.
Total global tax revenue generated was almost half of the gross value added by the industry paid to governments in payroll, social security, corporate and product taxes.
Read news in full 08/06/14 PTI/NDTV
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