Finance minister Richard Hu announced a budget that drew on a more optimistic reading of the Asian economic climate. Principal changes included a reduction in the corporate tax rate from 26% to 25.5%. The two-year property tax rebate for commercial and industrial properties, announced in 1998 was extended until 2001 but at the lower rate of 25%.
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Luis Coronado suggests companies should embrace technology to assist with TP data reporting, as the ‘big four’ firm unveils a TP survey of over 1,000 professionals
KPMG Netherlands’ former head of assurance also received a permanent bar and $150,000 fine; in other news, asset management firm BlackRock lost a $13.5bn UK tax appeal