1.   Corporate tax rates have been cut, too.

2.   Corporate taxes are to be abolished and replaced by a flat rate tax.

3.   The cost would be offset in part from repeal of corporate tax breaks.

4.   The existence of a Mark-up has to be taken into account when considering the response to a corporate tax.

5.   The investee corporation must pay corporate taxes on its income before paying out dividends-this is the first tax.

6.   Corporate taxes were also increased.

7.   At the same time the new Finance Minister, Manmohan Singh, introduced his first budget which raised corporate taxes, and cut fertilizer subsidies and defence spending.

8.   Lower than expected corporate tax revenues and rising welfare expenditure were held to be accountable for the increased projection.

9.   The key features of the budget were a rise in the corporate tax rate and the closing of a number of tax loopholes.

10.   Where T is the proportional corporate tax rate.