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Corporate tax rates have come down in most countries in last 10 years. India is one of the few to have maintained it at 30 per cent plus. However, the effective tax rate in the country is way lower at 24.67 per cent with smaller companies facing the highest tax burden. To fix the leakage in the tax system, the FM removed a few tax sops last year. In this year's Budget,while more sops have been withdrawn, the corporate tax rate has also been lowered.
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