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23 July 2024 4:45 PM IST
Budget 2024: FM Reduces 5 Percent Corporate Tax On Foreign Companies
By: Suraj Sinha
Budget 2024: FM Reduces 5 Percent Corporate Tax On Foreign Companies
Promises to promote investment and foster employment
While presenting the Union Budget 2024, Finance Minister Nirmala Sitharaman has announced reducing the corporate tax rate on foreign companies from 40 percent to 35 percent. This will attract foreign capital for the country’s development requirements.
The government has addressed the issues of the Indian start-up ecosystem to boost the entrepreneurial spirit and support innovation. This was done while proposing a simpler tax regime for the shipping companies operating domestic cruises in the country.
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