The Ministry of Finance has recently circulated for public comments the draft Law on Enterprise Income Tax (LEIT), which is expected to be effective from 1 January 2009 and will supersede the LEIT of 2003. The draft comprises of 21 articles and is organized into 4 chapters. In addition to the proposed reduction of the current enterprise income tax rate from 28% to 25%, the following changes are proposed:
Tax rate and incentives
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