Can a global minimum corporate tax be a game-changer for India? The need of the hour is to have a stable tax system so that governments do not lack revenue and there is no obstacle in providing necessary social services and infrastructure Dr. Ashwani Mahajan | April 19, 2021 | Updated 00:51 IST If we are trying to create a global consensus on the corporate tax rate, international consensus on MAT is also equally important A few years ago, the then Finance Minister of India, Arun Jaitley, announced in the Union Budget that the tax rate on companies that do not avail exemptions will be only 25 per cent instead of the prevailing rate of 30 per cent.