UPDATE 1-Indian tax panel suggests radical reforms

Newswire

By Unni Krishnan NEW DELHI, Dec 27 (Reuters) - An Indian tax panel on Friday urged a radical overhaul of the tax system by slashing corporate taxes and abolishing dividend tax to boost market sentiment and increase revenues in Asia's third largest economy. The panel was set up around six months ago to simplify the country's complex tax structure which resulted in a low tax-to-GDP ratio of around 14 percent and only 25 million tax payers in a country of more than a billion people. The ...

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