Corporate tax to come down to 25% once exemptions end, says FM
- January 22, 2016
- Posted by: jbadmin
- Category: Business plans
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Finance Minister Arun Jaitley said today that corporate tax rate can be brought down to the promised 25 percent only after all the exemptions given to the industry have ended.
Speaking at a post-Budget meeting, organised by industry body Ficci, he said he had in 2015 promised to cut corporate tax rate to 25 percent, from 30 percent, in four years.
Jaitley added however that he had also set a condition — all exemptions would have to go.
It would not be proper to end exemptions midway as some industries may have been set up based on them, he said.
- Growth through innovation/creativity:
Rather than be constrained by ideas for new products, services and new markets coming from just a few people, a Thinking Corporation can tap into the employees. - Increased profits:
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