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View: Lowering of corporate-tax rate will widen tax net


Recent measures to stimulate exports and the housing sector, together with steps taken on the consumption side, demonstrate GoI’s commitment to growth.

By Rajiv Memani

Finance minister Nirmala Sitharaman’s announcement on Friday to slash the basic corporate-tax rates to 22% for all domestic companies without tax exemptions or incentives, and 15% for new manufacturing companies is a bold move. It is, indeed, the most significant corporate tax reform after the goods and services tax (GST).

The new rate should reduce the cost of capital and catalyse investments by repositioning India as one of the most competitive economies. In ...


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