2 December 2011
During discussion on 26 November and 30 November 2011, the political parties of the designated new government reached an agreement on the budget for 2012. The main aspects are summarized below, based on the information currently available. It is expected that the changes will take effect from 1 January 2012.
Direct taxation
(a) Corporate taxation.
(i) Taxation of capital gains on shares
Capital gains on shares sold w…