Get those exemptions

While finance minister P Chidambaram has told the taxman to focus on sectors where tax payments are below the average payouts, this is easier said than done. Speaking in the context of corporate tax payments where, against the applicable rate of 30%, the average tax paid is around 24%, Chidambaram said the government could easily get another R30,000 crore if the taxman focused on sectors where the payout ratio was lower than even the average 24% rate.

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