The Budget proposal for 2012-13 was presented to the Parliament by the Minister of Finance, Planning and Public Service on 25 May 2012, for opening the Budget debate. If the Budget proposal is accepted as presented by the Minister the following tax measures, generally effective as of 1 January 2013, will take place:
Direct taxation
(a) Corporate taxation.
(i) Rates
Income tax will be levied over the statutory income at the following r…