Q) Has this been implemented anywhere else? Can this be implemented as a test in some small place?
Ans. The 'ArthaKranti' [Transaction Tax] concept has been designed for India, in India, by an Indian. Nevertheless, looking at the superlative merits of this proposal over all existing tax systems, it is likely that, most countries of the world may adopt Transaction Tax system. It is interesting to note that the father of Tennis superstar Steffi Graff was penalized for evasion of tax in Germany, this indicates that to evade tax is a general tendency all over the world.

Recently, similar proposal has been adapted by a US Senator and has been put up for a feasibility study in the U.S. (Ref - www.theorator.com and www.heartland.org/pdf/15849.pdf.) Another similar-sounding proposal has been put up by an American Professor, Dr. Edgar Fiege, primarily aimed at reducing complexities of the taxation system. ( www.apttax.com ). It is clear that thinkers across nations are beginning to acknowledge the necessity of designing a fresh and radically different method of revenue collection for the Twenty first century.

The most important thing to remember here is that while a developed country like the US will benefit from the simplification of taxation systems, a country like India will undergo a complete transformation because of the eradication of the parallel economy and boost to capital formation process.