From financial inclusion through a bank-account scheme to financial disaster through a rejig of India’s banknotes, here’s a look at what worked and what failed during the current government s decade in power.
In an interview, Malhotra said while the corporate tax cut in 2019 has resulted in about 57 per cent of the corporate tax mop up now coming from the reduced bracket, he is hopeful of a similar traction from the new personal income tax regime that was tweaked last year.
High tax rates deprive companies of both the means and theincentive to take advantage of new market opportunities or technological changes that can improve productivity. Most advancedcountries in the world have responded to new global economicrealities by slashing corporate tax rates. The U.S. stands almostalone in having resisted such cuts, and its corporate tax rates arenow among the highest in the world. Future U.S. prosperity dependson the willingness of our political leaders to resist populistanti-corporate dogma and make the necessary adjustments to keep theU.S. economy competitive.
Republican lawmakers are moving to cut income tax rates for Arizona corporations by nearly half – a move legislative budget analysts say eventually could cut state revenues by nearly $670
Deputy Prime Minister and Minister of Economy and Finance Choo Kyung-ho defended the government s plan to reduce the maximum corporate tax rate to 22 percent from 25 percent during a parliamentary audit, Tuesday, arguing it is designed to benefit small and medium-sized enterprises (SMEs) more than larger businesses.