Corporation tax cut: A deeper look

The Budget proposal to bring down the rate of corporation tax to 25 per cent over the next four years is seen as a positive for the long term. But as many as 40 BSE 200 companies in key sectors, a Business Standard analysis shows, are already paying corporation tax at rates much lower than the proposed 25 per cent. If firms in sectors like textiles, information technology hardware, consumer durables, auto comp-onents, non-banking financial companies, tyres and chemicals were to also be included, the list would be much longer. A look at the lowest taxpayers among BSE 200 companies, based on their corporation tax rates, in 10 key sectors: