India: Corporate tax rate reduction

India has reduced corporate tax rates for companies incorporated there. Beginning on 20 September 2019, Indian companies can elect to apply a 22 percent corporate income tax rate (down from 30 percent) as long as they don’t apply for other incentives or exemptions.

Additionally, companies that choose to use the lower rates of tax will not be required to pay the Minimum Alternative Tax (MAT), which has also been reduced from 18.5 percent to 15 percent.