Corporate tax rates slashed to 22% for domestic companies and 15% for new domestic manufacturing companies and other fiscal reliefs

Corporate tax rates slashed to 22% for domestic companies and 15% for new domestic manufacturing companies and other fiscal reliefs https://www.taxtmi.com/news?id=21982 The Ordinance creates elective concessional corporate tax regimes: a reduced flat rate for domestic companies that forego all exemptions and incentives, and a lower rate for new manufacturing companies that commence production within the prescribed period; electing companies are not subject to MAT and the option is irrevocable once exercised. The Ordinance also reduces MAT for companies retaining exemptions, exempts enhanced surcharge from certain capital gains for specified persons and FPIs, excludes tax on buy-backs announced before a specified prior date for listed companies, and expands permissible CSR spending to government-funded incubators and public research institutions. en-us Fri, 20 Sep 2019 13:16:38 +0530 Fri, 20 Sep 2019 16:51:00 +0530 TaxTMI RSS Generator Corporate tax rates slashed to 22% for domestic companies and 15% for new domestic manufacturing companies and other fiscal reliefs https://www.taxtmi.com/news?id=21982 The Ordinance creates elective concessional corporate tax regimes: a reduced flat rate for domestic companies that forego all exemptions and incentives, and a lower rate for new manufacturing companies that commence production within the prescribed period; electing companies are not subject to MAT and the option is irrevocable once exercised. The Ordinance also reduces MAT for companies retaining exemptions, exempts enhanced surcharge from certain capital gains for specified persons and FPIs, excludes tax on buy-backs announced before a specified prior date for listed companies, and expands permissible CSR spending to government-funded incubators and public research institutions. News - Fri, 20 Sep 2019 13:16:38 +0530 https://www.taxtmi.com/news?id=21982