India cuts effective corporate tax rate to 25.75% to revive investment - GulfToday

India cuts effective corporate tax rate to 25.75% to revive investment

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Sitharaman and RBI Governor Das arrive to attend the RBI's central board meeting in New Delhi. File photo/ Reuters

Indian Finance Minister Nirmala Sitharaman announced a slew of measures on Friday to revive sagging investment in Asia's third largest economy including a cut in corporate taxes.

Sitharaman told a news conference that the effective corporate tax rate will be lowered to 25.75% from 30%, which she said would be at par with Asian peers.

The government also scrapped the minimum alternative tax for domestic companies.

Reuters