Donald Trump proposed slashing tax rates for businesses to 15% from the current 35% for public corporations, and 39.6% for small businesses. Photo: APMumbai: US President Donald Trump’s ambitious plan to cut corporate taxes in the world’s largest economy would be a major boost for US companies and the dollar, but may spell bad news for emerging markets. Trump proposed slashing tax rates for businesses to 15% from the current 35% for public corporations, and 39.6% for small businesses. There is also a minority contrarian theory that emerging markets would actually benefit from the proposed tax cuts. More money in the hands of US companies, would lead to more investments in emerging markets, which carry huge growth potential, this theory argues.

Source: Mint April 27, 2017 05:15 UTC