View: India needs taxes high enough for revenue growth, low enough for investments

In the long term, higher tax rates may induce rich Indians to emigrate: over 7,000 millionaires exited recently. Lower tax rates may induce higher investment, including that from foreigners. This can accelerate GDP (and tax revenue) in the medium term. In 1991, when economic liberalisation began, corporate tax was 58%. Today it is 25%.

from Economy-News-Economic Times https://ift.tt/36rsutX
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