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Home » business » Big bang reform: Uday Kotak hails move to slash corporate tax rate

Big bang reform: Uday Kotak hails move to slash corporate tax rate

"A bold, progressive step forward," Uday Kotak wrote about the move.

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Kotak Mahindra Bank MD and executive vice-chairman, Uday Kotak has hailed the Finance Minister Nirmala Sitharaman’s move to reduce the corporate tax rate.

“Reducing corporate tax rate to 25% is big bang reform. Allows Indian companies to compete with lower tax jurisdictions like the U.S. It signals that our government is committed to economic growth and supports legitimate tax abiding companies. A bold, progressive step forward,” he wrote in a tweet.

Finance Minister Nirmala Sitharaman while briefing the media ahead of the GST Council meeting later on Friday, 20 September 2019, announced that the government is proposing to slash the corporate tax rate for domestic manufacturing companies.

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