Foreign Investors' Chamber of Commerce and Industry (FICCI) has proposed to reduce the corporate tax to 10 percent and increase the tax base in the next fiscal year 2017-2012.
On Monday afternoon, the organization's president Rupali Chowdhury presented 23 proposals including a proposal in a pre-budget discussion at the National Board of Revenue (NBR) conference room.Rupali Chowdhury said that in the current budget 35 percent of non-publicly traded companies, 25 percent of listed publicly traded companies, 40 percent for listed banks, insurance and other financial institutions and 42.5 percent (not listed), 35 percent of merchant banks, cigarettes 45 percent of the company's makers and 45 percent corporate tax in the mobile operator company are available. Reduce this tax by 10 percent and it will continue for 5 years.
