New Delhi, Nov 4: India’s Finance Minister Arun Jaitley on Wednesday said the government in the next few days will list out the exemptions to be phased out as part of its plans to gradually bring down corporate tax rate to 25 per cent, the first tranche of which will be announced in the Budget in February.
Jaitley made these comments while participating in an interactive session at the ‘National Strategy Day in India’ organised by the World Economic Forum (WEF) and the Confederation of Indian Industry (CII).
The Minister in his Budget in February had announced the government’s intention to reduce corporate tax from 30 per cent to 25 per cent over the next four years.
Jaitley also said the government has been able to address various tax legacy issues, including those pertaining to retrospective tax amendment, though two-three problems remain.
Two-three of those problems remain and they remain because of legal reasons. He said he has publicly announced that we are looking for processes by which we can resolve some of these, Jaitley said.
