Politics in 100 seconds: Corporate tax rates slashed for domestic firms

Politics in 100 seconds: Corporate tax rates slashed for domestic firms

Finance Minister Nirmala Sitharman on Friday slashed corporate tax rates for domestic companies and new domestic manufacturing companies. The announcement comes ahead of the crucial GST meet in a bid to boost the capital markets.The government has cut the effective corporate tax to 25.17 per cent inclusive of all cess and surcharges for domestic companies.   This, she said is being done to promote investment and growth.