Venture Capitalists Urge for Angel Tax Repeal in Union Budget 2024
Wednesday, 17 July 2024, 12:21
Angel Tax and Its Impact on Startups
The Union Budget 2024 is on the horizon, and the startup community is voicing a significant concern. Venture capitalists are pushing for the abolishment of the angel tax, which they argue suppresses the growth potential of new and innovative businesses.
Impact of the Angel Tax
- The angel tax is viewed as a deterrent for investments.
- It creates a challenging environment for startups seeking funding.
- Experts believe that removing this tax will enhance the investment landscape.
The consensus is clear among industry stakeholders: removing the angel tax is crucial for fostering a more vibrant startup ecosystem. The removal of such taxation supports not only individual startups but the economy at large.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.