Swetang Vin, Corporate Vice President and Regional CFO – AMD

Swetang Vin, Corporate Vice President and Regional CFO – AMD too applauded that the Corporate tax rate of 25% for companies with turnover of Rs. 400 crore is a welcome move as 99.3% of the companies will benefit from this lower tax rate. “This will help companies to deploy the surplus funds for investment in capex and R&D for future growth. At the same time it is disappointing that 25% rate was not extended to the remaining 0.7% corporates. This was an expectation from last 5 years. The move to raise Income Tax Surcharge in highest tax bracket could have been avoided by increasing the tax net instead of charging the same tax payers.”