India joins Asia tax-cutting war

22 September 2019 - 00:07 By Bloomberg

India's government has stepped up efforts to repair economic growth with a surprise $20bn (about R300bn) tax cut, taking the rate for companies to one of the lowest in Asia.

Domestic companies will pay 22% tax on their income from April 1 2019, versus 30% previously, finance minister Nirmala Sitharaman said on Friday...

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