The Union Budget for 2017-18 is very likely to lower corporate tax rates. The Confederation of Indian Industry (CII) has urged a reduction in the corporate tax rate to 18%. What the chart also shows is that we have one of the highest corporate tax rates in the world. China and Indonesia have corporate tax rates of 25% and rates for Thailand, Singapore, Korea, Malaysia and Hong Kong are even lower. So there’s a clear case to fast-forward the promise to bring down the corporate tax rate to 25%.

Source: Mint January 11, 2017 05:06 UTC