July 1, 2015 / 5:07 AM / 4 years ago

India to provide roadmap for ending corporate tax exemptions in 45 days - official

A money lender counts rupee currency notes at his shop in Ahmedabad, May 6, 2015. REUTERS/Amit Dave/Files

NEW DELHI (Reuters) - India will provide a roadmap for ending corporate tax exemptions in next 45 days, Revenue Secretary Shaktikanta Das said on Wednesday, as part of a plan to lower the tax rate to 25 percent in four years.

Finance Minister Arun Jaitley, while presenting his annual budget in February, had announced that the government would gradually pare corporate tax by 5 percent during the next four years from 30 percent and roll back various tax exemptions.

Reporting by Rajesh Kumar Singh; Editing by Malini Menon

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