Finance Minister Nirmala Sitharaman introduces Bill in Lok Sabha to cut corporate tax

The Taxation Laws (Amendment) Bill, 2019 will replace the Taxation Laws (Amendment) Ordinance, 2019, promulgated on September 20, 2019, to cut the base corporate tax rate to 22 per cent from 30 per cent. Also, the International Financial Services Centres (IFSCs) Authority Bill, 2019, that provides for creation of a unified financial regulator for IFSCs was introduced.

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