|
3.3 Last year, I reduced our corporate and top
personal tax rates from 24.5% and 26% respectively
to 22%. In my assessment, our present rate of
22% is still competitive for now. Therefore, I
will not be reducing corporate and personal income
tax rates further this year. Nor, given the tight
budget position, will I be giving any rebates
on these taxes. However, I reaffirm the Government's
intention, which I announced last year, to bring
the tax rates down to 20% by YA 2005.
|
