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

(SocialLY brings you all the latest breaking news, fact checks and information from social media world, including Twitter (X), Instagram and Youtube. The above post contains publicly available embedded media, directly from the user's social media account and the views appearing in the social media post do not reflect the opinions of LatestLY.)

(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).