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of <h1>Clause 207 Revolutionizes Non-Resident Taxation with Streamlined Rates, Simplified Compliance, and Strategic Economic Incentives</h1> Legal Document Summary:The Income Tax Bill, 2025's Clause 207 modernizes taxation for non-residents and foreign companies by streamlining tax rates and compliance mechanisms. It establishes clear tax rates for various income streams like dividends, royalties, and technical service fees, ranging from 5% to 20%. The clause introduces simplified compliance requirements, provides targeted sector incentives, and maintains gross taxation principles. Key improvements include updated definitions, reduced administrative burdens, and alignment with contemporary economic realities while preserving core taxation objectives from the previous legal framework.
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