The Budget for 2013 was presented by the Prime Minister (also the Finance Minister) on 28 September 2012. Key points of the Budget are summarized below:
Direct taxation
(a) Corporate taxation.
| - | Foreign company acquisition incentives to be reintroduced and a special tax rate to encourage local service providers to merge into bigger entities. | |
| - | Tax incentives for private entrepreneurs in the oil and gas industry including 100% income… |