Trump pledges to lower corporate tax to 15%

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US President-elect Donald Trump on Thursday announced a reduction in corporate taxes to 15 per cent as he outlined his plans for the economy while ringing the New York Stock Exchange’s opening bell, after being named as Time magazine's person of the year.

Trump made fresh pledges to cut taxes and incentivise industries. He vowed to lower the corporate tax rate from 21 per cent to 15 per cent and said that he is discussing with his advisers the possibility of reducing levies on capital gains and dividends.

“We're going to give tremendous incentives like no other country has. We're cutting your taxes. We're going to cut them very substantially. We got 21 percent from probably 42 or 44 percent, depending on where you are, and we got them down to 21. Everyone said that was a miracle. Now we're getting them down to 15, but only if you make your product here,” the President-elect said