Corporate tax rate 32% Finance Act 2015
Finance Act 2015 had reduce corporate tax rate for non-banking companies from 33% to 32% for Tax Year 2016, the Finance Act now provides to reduce it further to 31% for Tax Year 2017 and 30% for Tax Year 2018 and onwards. It is in line with the policy decision of the Government to eventually bring down the corporate tax rate to 30%.