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MAT IS ABOLISHED – FM ANNOUNCES OTHER REFORMS

MAT IS ABOLISHED – FM ANNOUNCES OTHER REFORMS 🏽Corporate tax rate to be 22% without exemptions, inclusive of surcharge and cess.  🏽No Minimum Alternate Tax (MAT) applicable on such companies 🏽Effective corporate tax rate after surcharge to be 25.17 percent 🏽To attract investment in manufacturing, local companies incorporated after October 2019 will pay tax at…