Union Budget 2018-19: Government may cut corporate tax for larger firms

In a move that will benefit larger companies, the government may cut corporate tax in the upcoming Union Budget.

ET Now reported quoting sources that the government is in discussion to slash corporate tax for larger companies in the Budget. Also, it is likely to give the glide path for reducing corporate tax for all companies to 25 per cent from the current 30 per cent.

For extending the tax cut, the government could consider companies with annual turnover of Rs 100 crore to Rs 500 crore.

A cut in corporate tax will also depend on revenue outlook for GST in the next fiscal.