Will roll out corporate tax reduction from the next Budget: Jaitley
NEW DELHI: The Centre will unveil in the next few days a list of exemptions it plans to phase out to reduce corporate tax to 25%, finance minister Arun Jaitley said on Wednesday, and expressed confidence the GST Bill will be passed soon.
The first tranche of cuts would be announced in the Union budget for 2016-17 in February, Jaitley said at the National Strategy Day in India, organised by the World Economic Forum (WEF) and Confederation of Indian Industry (CII) in New Delhi.
The proposal to cut corporate tax from the current 30% to 25% over a four-year period was part of Budget 2015-16.
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