Lakshmi Kumaran & Sridharan AttorneysAn ISO 9001 / 27001 certified law firm

Asia has ample margin to increase tax rates

A study undertaken by Asian Development Bank concludes that even with corporate tax rates at 35% in Philippines and 33% in China, tax burden is lesser when compared to the rest of the world. A lower tax-GDP ratio may be business friendly but will depress fiscal resources to national governments affecting development programmes. The report pitches for more taxes and better collection and enforcement mechanisms.
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