sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
Latest Expert Exchange
News Headlines »
 What to do when you receive a notice from the tax department
 How to use your Form 16
 Which ITR form applies to you for financial year 2017-18?
 Income tax returns filing form-2 released; should you use it? Find out
  Are you planning to file ITR 1 form? here's how to do it Income Tax Return (ITR) filing
 30 LPA-Opening Financial Controller
 ITR form 2 in java release by CBDT for return filing by individuals
 How to file your income tax return using ITR Form-1 Income Tax efiling for AY 2018-19
 Income tax returns (ITR) filing: Have you received I-T dept notice? Safeguard yourself; here is how
 Delayed release of electronic ITR forms may compel CBDT to extend the filing deadline
 Trading volume linked to tax return?

Reduce corporate taxes to attract more investments: KPMG
December, 03rd 2007
With the Finance Ministry initiating the process of budget preparation, global consultancy KPMG said India will have to reduce its corporate taxes to woo more foreign investors into the country.

"By 2010, some sort of softening is expected in the corporate taxes in India as the current level of growth demands a lower tax regime," KPMG's Global Head of Tax Loughlin Hickey told reporters here.

Hickey said according to a study held by KPMG, among 18 leading economies, India has been ranked third facing pressure from its tax regime.

As per the study, countries are experiencing pressure from various tax functions such as documentation requirements, higher level of accuracy, regulatory compliance requirements and time compression in financial reporting. Hong Kong has topped the list, followed by Canada.

India, which has become a prominent investment destination in the last decade, will have to reduce the corporate tax rates in the next three years, Hickey said. "They (India) want to attract more investors. Obviously, that will happen, only if the taxes are reduced," he said.

India has an estimated Rs 3 lakh crore target for 2007-08 and is understood to have registered a 41 per cent jump in the collection of corporate taxes so far this year.

In the pre-budget consultation, Industry representatives have reportedly asked government for a cut in corporate taxes to 25 per cent from the current 33.9 per cent.

Hickey also said only a lower and simple tax system can bring in better-compliance from tax payers. "If you want to develop more compliance in the tax system, you will have to lower the rates as well as make the process much simpler," Hickey said. This apart, the introduction of tools like PAN has also helped in tax compliance, he said.
Home | About Us | Terms and Conditions | Contact Us
Copyright 2018 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Enterprise Resource Planning Solutions ERP Solutions Enterprise Resource Planning Software Solutions ERP Software Solutions Supply Chain Management Solutions SCM Solutions Supply Chain Management Software Solutions SCM Software Solutions Enterprise Resource Planning Solutions India ERP Solutions India Enterprise Resource Planning Software Solutions India ERP Software Solutions India Supply Chain Management Solutions India SCM Solutions India Supply Chain Management Software Solutions India SCM Software Solutions India

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions