Orbitax
The Budget for 2011 was presented to the parliament by the President as the Finance Minister on 22 November 2010. The changes take effect 1 April 2011 unless specified otherwise. Some of the tax-related proposals are as follows:
Direct taxation
(a) Corporate taxation. The proposals include the following:
| - | standard income tax rate will be reduced from 35% to 28%; | |
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