Corporate Tax Reduced From 18% To 15%? PIB Fact Check Debunks Fake Claim, Reveals Truth

Fake news is being spread regarding the reduction of Corporate Tax in the Union Budget 2022-23. The correct position is that AMT for co-op societies is being reduced to 15% from 18.5% to bring parity bet co-op societies & companies. Press Information Bureau (PIB) tweeted that this Corporate Tax reduction news is fake.

Here is the Tweet:

Fake news is being spread about reduction of Corporate tax in the Budget. #PIBFactCheck

▶️ Government has proposed to reduce the Alternate Minimum Tax rate for co-operative societies to 15% from the current 18.5%. pic.twitter.com/FVvUjU2zaD

— PIB Fact Check (@PIBFactCheck) February 1, 2022

(The above story first appeared on LatestLY on Feb 01, 2022 11:36 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).