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Budget 2023: Larger companies make the most of new corporate tax regime

Companies have taken advantage of the new tax regime, lowering their effective tax rate

February 03, 2023 / 01:46 PM IST
Budget 2023: Larger companies make the most of new corporate tax regime

Larger companies are making the most of the new corporate tax regime announced by the government in 2019. Latest data from the Budget shows that companies that have profit before tax of over Rs 500 crore have seen their effective tax rate (ETR) decline to 19.1 percent in 2020-21, the latest year for which data is available. Between 2017-18 and now, their ETR has declined by 7.2 percentage points while that of companies in the Rs 100-500 profit range...

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