The Budget Bill for 2014 was enacted on 23 January 2014 as the Finance Act 2014.Key points of the Budget are summarized below.
Direct taxation(a) Corporate taxation
| - | The corporate tax rate will reduce by 1%, from 25% to 24%, from the year of assessment 2016. |
| - | From the year of assessment 2015 onwards, secretarial and tax filing fees will be an allowable tax deduction. |
| - | …