AS discussions around potential cuts in the US corporate tax rate gain momentum post-Donald Trump's presidential victory, India may find itself at a critical juncture, needing to reassess its own corporate tax framework to remain competitive in attracting foreign investment.
However, experts are of the view that the dynamics of tax rates are complex and influenced by various factors beyond mere comparison with US rates.
The government announced a significant cut to the corporate tax rate for domestic companies from 30% to 22% in 2019, and for new manufacturing companies, the rate was set at 15%.
Despite these reductions, India's corporate tax rates remain relatively high compared to some ASEAN and OECD economies.
This story is from the November 12, 2024 edition of The New Indian Express.
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This story is from the November 12, 2024 edition of The New Indian Express.
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