Industrial Sector Updates – Industrial Policy, Ease of Doing Business, etc.

Govt. to roll out road map for corporate tax reduction

  1. Government in the next 45 days will unveil the road map of how it will go about reducing the corporate tax rate.
  2. Plan is reduce it to 25% over 4 years, and eliminate the existing incentives and exemptions.
  3. Though the effective rate of collection is 23% due to many exemptions but the base rate of 30% is much higher than global standards making our domestic industry uncompetitive.
  1. Government in the next 45 days will unveil the road map of how it will go about reducing the corporate tax rate.
  2. Plan is reduce it to 25% over 4 years, and eliminate the existing incentives and exemptions.

Though the effective rate of collection is 23% due to many exemptions but the base rate of 30% is much higher than global standards making our domestic industry uncompetitive.

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