Oil Income allows for expansionary Budget
Well, at least all those petrol price increases have resulted in something beneficial - at least for malaysian businesses.For the first time in 9 years, the government has cut corporate tax by 1% from 28% to 27% in 2007. There will be another 1% cut in 2008. While there were no personal tax cuts, analysts expect that this might happen when GST is finally implemented in about 3 years time.
Though there are no additional goodies for SME's in general, those in the biotechnology field will get 10 years tax exemption.
Technorati: Budget, taxes, Malaysia
posted by hew @ 6:08 pm
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