Govt keen to weed out exemptions & lower corporate tax to global rate of 25% With the government keen to weed out exemptions and lower the corporate tax rate to an internationally comparable 25%, it is not willing to give any fresh ones. As a result, the proposed Japanese enclaves for industries have hit a tax wall with the revenue department making it clear that it cannot offer sops against its overall philosophy of ending them. This issue figured in an inter-ministerial meeting called by Niti Aayog, said a government official aware of the matter. “The revenue department is not in favour of taking up any fresh ex emptions,“ the official said. The final decision will be taken at the highest level. The industrial townships are envisaged as integrated industrial parks with readymade operational platforms having world-class infrastructure, plug-and-play factories and investment incentives for Japanese firms. This is part of the Japanese govern ment's initiative to double i