September 20, 2019 / 5:39 AM / a month ago

CORRECTED-India cuts effective corporate tax rate to 25.17% to revive investment

(Corrects to 25.17% from 25.75% in headline and 2nd paragraph)

PANAJI, India, Sept 20 (Reuters) - 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 25.17% from 30%, which she said would be at par with Asian peers.

The government also scrapped the minimum alternative tax for domestic companies. (Reporting by Manoj Kumar; Writing by Aftab Ahmed; Editing by Sanjeev Miglani)

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