PANAJI, India - India’s government on Friday slashed corporate taxes, giving a surprise $20.5 billion break aimed at reviving private investment and lifting growth from a six-year low that’s caused job losses and fueled discontent in the countryside.
Starting from the current fiscal year, any domestic company has the “option to pay income tax at the rate of 22%” as long they do not seek any special tax incentives, the minister said in the western city of Panaji where officials are also considering lowering sales tax on 20-25 products. Foreign firms that have Indian subsidiaries or joint ventures partnerships with Indian companies can also get the lowered corporate tax rates, Sitharaman said.Reserve Bank of India Governor Shaktikanta Das said the moves augur “extremely well” for the economy.
“This is bigger than last 20 budgets,” said Samir Arora, fund manager at Helios Capital said in a tweet.Uday Kotak, head of Kotak Mahindra Bank KTMS.NS, said in a tweet reducing corporate tax rate to 25% is “big bang reform ... It signals that our government is committed to economic growth and supports legitimate tax abiding companies. A bold, progressive step forward.
Have you checked India for American call centers being used as social media influencers? Have they ever been particularly political, perchance? Or seemingly on the same page with AMI? I've been wondering for a couple years because it just makes sense.
Wow. You know it's times like these I'm extra disappointed Outsourced got cancelled.
Notably India is profiting from a ramp up in the importation & burning in India of billions of tons of Australian coal to generate electricity to sell to Bangladesh people. Despoiling Australia to add incredible amounts dirt & heat to India's filthy air for $$$ to big Modi backer
What a surprise! Populist right wing 'govt' gives big tax cut to big companies whilst the poor get nothing. Greased palms everywhere. Uncontrolled greed.
India should have learned from Trump's folly. You don't give the rich more $$, you give $$ to middle class & poor so they can spend it.