On 05 July 2019, the Indian Finance Minister presented the first Budget of the newly formed Government. At the end of the Budget announcement, which aimed at delivering growth, the corporate tax rates remained unchanged. However, the government extended the moderate corporate tax rate of 25% for a domestic company having total turnover/ gross receipts not exceeding INR 4bn. In this regard, the Indian Finance Minister, in her budget speech, stated that such a move would cover 99.3% of domestic companies. This left out only 0.7% of domestic companies outside this rate. Clearly, small and medium-sized businesses were the beneficial recipients of the tax relief, while large companies continued to pay taxes at the higher rate of 30%1. […]
- Diplomacy is the art and practice of conducting negotiations between representatives of groups or states. It usually refers to international diplomacy, the conduct of international relations through the intercession of professional diplomats with regard to issues of peacemaking, trade, economics, culture, environment and human rights. The most common types of diplomacy: Political Diplomacy; Economic Diplomacy; Public Diplomacy; and, Soft Diplomacy.
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