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    Kerala to tax corporate retailers

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    In an apparent move to discourage corporate retailers from opening more outlets in Kerala, the state government, in its annual budget on Thursday, said it will slap a 10 per cent surcharge on the profits made by them.

    “We have shown a red light by imposing a surcharge tax on the net profits of big retail companies,” state food minister C Diwakaran told the state assembly.

    The announcement, according to industry analysts, came after a demonstration against ‘big retail’ that was staged last month by thousands of small retailers in Thrissur.

    A host of major Indian companies including (RIL) and have been forced to scale back their plans for more retail openings because of the protests. , in tie-ups with , is also seeking to open a chain of stores in Kerala, but have met opposition from small store owners.