Cut corporate tax to be competitive
New
Delhi,
Sep
28,
2007:
According
to
tax
consulting
firm,
KPMG's
Global
corporate
Tax
Rate
Survey,
India's
corporate
tax
rate
is
significantly
higher
than
its
Asian
neighbours
and
it
needs
to
lower
the
corporate
tax
rates
to
attract
more
Foreign
Direct
Investment
into
the
country.
KPMG, after scrutinizing the trend in the global economies, asserts that the tax rates have declined globally, particularly in the European Union and in various developed nations.
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Story first published: Friday, September 28, 2007, 18:32 [IST]