The Budget for 2014 was presented by the Prime Minister (also the Finance Minister) on 25 October 2013 and saw the introduction of the Goods and Services Tax from 1 April 2015. Key points of the Budget are summarized below and are effective from 1 January 2014 unless otherwise stated.
Direct taxation
(a) Corporate taxation
| - | The corporate tax rate will reduce by 1%, from 25% to 24%, from the year of assessment 2016.… |