Asia-Pacific News

India cuts effective corporate tax rate to revive investment

Indian Finance Minister Nirmala Sitharaman announced a slew of measures on Friday to revive sagging investment in Asia's third largest economy including a cut in corporate taxes.

Sitharaman told a news conference that the effective corporate tax rate will be lowered to 25.75% from 30%, which she said would be at par with Asian peers.

The government also scrapped the minimum alternative tax for domestic companies.