Corporate sector to be taxed more: Chidambaram

New Delhi, May 4: Finance Minister P Chidambaram today said the corporate sector has to contribute more through taxes from the current 19 per cent to 33 per cent.

Corporates he said should pay at least 33 per cent in taxes from the current rate of 19 per cent. ''The intention of the government is to make the corporate sector pay (taxes)'' he added.

He said the proportion of corporate tax is only four per cent to the overall contribution, Mr Chidamabaram said while replying to the debate over Appropriation Bill, 2007, and Finance Bill, 2007 in the Rajya Sabha.

''I am not a high tax Finance Minister,'' Mr Chidambaram pointed out while referring to a mamber who called him so.

''I am only taxing those sectors that are exempted from tax,'' he added.

The Finance Minister said what the government is doing is that ''we are leaving more money in hands of the citizen''.

UNI