THIS is the first question-and-answer session provided by PricewaterhouseCoopers for readers of The Star on various aspects of Budget 2004. Two other articles will appear in StarBiz tomorrow and Tuesday.
Q: There was a lot of speculation as to possible reduction in the corporate tax rate and I understand there were representations submitted by the professional accounting bodies and other interested parties to the Government in this respect. Despite this, the Government has not lowered the corporate tax rate of 28%. Why is it so? Would this discourage more foreign direct investments (FDI) in reaching our shores as claimed by some quarters?
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