India's corporate tax rate now equals Singapore's after latest cut
- The tax cuts may spur more investors to buy Indian stocks: Citigroup Inc
- The tax cut, retrospective from April 1, will cost the government ₹1.45 lakh crore in revenue
India’s reduction in the corporate tax rate to among Asia’s lowest was welcomed by investors as a boon that may help spur economic growth and company profits. The effective corporate tax rate for all domestic companies will be 25.2%, lowered from 30%, the government announced on Friday. That reduces it to the same level as Singapore.
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