India needs single corporate tax rate of 25%, says KPMG
Updated : August 25, 2019 03:22 PM IST
The report titled "India: Redefining its growth path" observed that the Minimum Alternate Tax (MAT) should be withdrawn and Dividend Distribution Tax (DDT) should be replaced by the witholding tax.
In the 2019 Union Budget, finance minister Nirmala Sitharaman proposed to raise the annual turnover threshold limit from Rs 250 crore to Rs 400 crore for availing a lower corporate tax rate of 25 percent.
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