UK India Business Council Chief On Corporate Tax Cut For Foreign Firms

Finance Minister Nirmala Sitharaman on Tuesday announced a reduction in the corporate tax rate on foreign companies to 35 per cent to attract foreign capital flow. Budget 2024-25 has proposed a reduction in the rate of income-tax chargeable on income of foreign companies (other than that chargeable at special rates) from 40 per cent to 35 per cent. UK India business council MD and Group CEO Kevin McCole told NDTV that measures like the corporate tax cut for foreign firms are a step in the right direction.