Cut corporate tax to be competitive

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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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