https://www.taxtmi.com/article/detailed?id=8592 The document critiques a turnover based eligibility rule that grants a concessional corporate tax rate of twenty five per cent to domestic companies below a prior year turnover threshold while others pay the higher marginal basic rate. The author contends that turnover alone is an arbitrary basis to limit the concession to companies, produces incentives for tax driven entity formation and income retention, and should be extended to other assesses with comparable turnover. The author also advocates increasing the basic exemption for individuals to promote capital accumulation. en-us Sun, 07 Jul 2019 09:45:20 +0530 Sun, 07 Jul 2019 09:45:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=8592 The document critiques a turnover based eligibility rule that grants a concessional corporate tax rate of twenty five per cent to domestic companies below a prior year turnover threshold while others pay the higher marginal basic rate. The author contends that turnover alone is an arbitrary basis to limit the concession to companies, produces incentives for tax driven entity formation and income retention, and should be extended to other assesses with comparable turnover. The author also advocates increasing the basic exemption for individuals to promote capital accumulation. Articles Income Tax Sun, 07 Jul 2019 09:45:20 +0530 https://www.taxtmi.com/article/detailed?id=8592