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Tax rate cut aimed at attracting investments: Finance Minister

Tuesday, December 3, 2019, 8:11 AM

Finance minister Nirmala Sitharaman said the recent corporate tax rate cut was aimed at attracting investments and creating jobs while clarifying that the reduction in minimum alternate tax was applicable from the beginning of the current financial year. "We think we will attract investment by reducing tax rate," she told Parliament, while adding that several countries had done the same.
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Govt eases norms for re-insurers for setting up shop at IFSC

Monday, August 5, 2019, 8:28 AM

In a bid to promote IFSC as an attractive destination for investment for global re-insurers, the government has relaxed norms for setting up shops at Gandhinagar international financial services centre. The notification of Finance Act, 2019, has paved the way for reduction of the Net Owned Funds (NOF) requirement for the opening of branches of foreign re-insurers in IFSC to Rs.1,000-crore from Rs.5,000-crore.
 
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Direct tax reform to take centre stage in PM Modi's second term

Sunday, June 2, 2019, 12:43 PM

The NDA government, in its second term, plans to introduce transformational changes in the direct tax regime by pruning a tax-rate that is as high as 30%, widening the tax-base and making it easier for honest individuals and corporate entities to comply with tax laws. At the same time, wilful tax-evaders and money launderers will not be spared, government officials aware of plan said.

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