Assocham for reducing corporate tax to 25 percent
Wednesday, 29 December 2010, 23:33 IST
Printer Print Email Email
New Delhi: Industry chamber Assocham asked the Finance Ministry today to reduce corporate tax to 25 percent from the existing rate of 30 percent so that India Inc is left with more money to make big-ticket investments. "Assocham has recommended reduction in the corporate tax from 30 to 25 percent. This will result in generating more surpluses in the hands of companies, with the consequential impact on investments and growth," the chamber said in a pre-Budget memorandum to Finance Minister Pranab Mukherjee. The chamber said a liberalised taxation regime has been a long-pending demand of the corporate sector. It said reduction of the corporate tax rate to 25 percent would bring the tax regime in the country at par with that of developed Western nations and make the country's corporate sector more competitive globally.
Source: PTI
siliconindia