Startups Welcome Corporate Tax
At a time when Angel Tax has been doing the rounds all over, these days startups and technology companies have welcomed the government’s move to ease off corporate taxes. This was as per the announcement by finance minister Nirmala Sitharaman. This could provide an incentive for many startups to move towards profitability, as per industry leaders.
A lot of investors in the startup world have been selling their stakes at a higher valuation and only pay a lower capital gains tax, thus putting profitability on the backburner. Experts said that this move would propel such entities to gradually move towards profitability.
Let’s have a look at some of the most important tweets from the industry experts.
As most of the industry experts have pointed out that the rate of corporate tax deduction from 30 percent to 25.2 percent, is a welcome move that would support the industry, and in turn the startup ecosystem as a whole. Now, it is to be seen whether the times ahead are going to be fruitful.