The Ministry of Finance is in the midst of drafting amendments to the Corporate Income Tax Law. Some of the draft amendments reported are as follows:
| - | CIT rate to be reduced to 23%; | |
| - | cap on deductible advertisement and promotion expenses to be increase from 10% to 15%; | |
| - | discounts granted on payments to be fully deductible; | |
| - | thin capitalization rules of 4:1 (10:1 for credit insti… |