Shome favours lower corporate tax rates
Union Finance Minister’s adviser Parthasarathi Shome on Monday favoured lowering of corporate taxes saying it would lead to higher growth and development.“Lowering of corporate taxes will result in higher job growth and is more development oriented,” Mr. Shome said at an interaction organised by Bharat Chamber of Commerce in Kolkata.Mr. Shome said marginal rates of taxation for high net worth individuals (HNIs) in India was not steep as compared to countries like the UK and the USA. Persons having an income of Rs. five crore, for instance were taxed at 30 per cent plus a surcharge.
Source : http://www.thehindu.com/business/Economy/shome-favours-lower-corporate-tax-rates/article5673525.ece
Union Finance Minister’s adviser Parthasarathi Shome on Monday favoured lowering of corporate taxes saying it would lead to higher growth and development.“Lowering of corporate taxes will result in higher job growth and is more development oriented,” Mr. Shome said at an interaction organised by Bharat Chamber of Commerce in Kolkata.Mr. Shome said marginal rates of taxation for high net worth individuals (HNIs) in India was not steep as compared to countries like the UK and the USA. Persons having an income of Rs. five crore, for instance were taxed at 30 per cent plus a surcharge.
Source : http://www.thehindu.com/business/Economy/shome-favours-lower-corporate-tax-rates/article5673525.ece
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