Corporate income tax is an important source of government revenue, especially in low and middle-income countries. However, effective tax rates are often far below statutory rates due to generous tax incentives provided to attract investments.
Introduction The world has, unfortunately, been going through quite challenging times lately. From COVID-19 pandemic (none of the sort seen since 1918 or some 104 years) that resulted in world lockdowns that affected most countries' economies to the current Russia-Ukraine conflict (none of the sort seen since 1945 or…