Budget for 2007/08 – details

The Budget for 2007/08 was presented by the Minister of Finance on 17 May 2007. Details of the Budget, which are wide-ranging, are summarized below. The central theme of the Budget is an emphasis on saving and investment as part of the government's self-styled "economic transformation agenda".

Direct taxation

(a) Corporate taxation. The changes include:

(i) a decrease in the company tax rate from 33% to 30%, effective from 1 April 200…