Good news for companies as the government has also decreased the Corporate Tax from 29 percent to 28 percent.
It’s even better news for those companies listed under the South Pacific Stock Exchange as these companies will be subject to a reduced corporate tax rate of 20 percent next year, provided the companies have more than 40 percent local equity shareholding.
The government has also announced that it will continue funding for HART, squatter upgrade, and resettlement programme in the Housing Authority and Public Rental Board.
At the same time a new Housing Assistance Grant Scheme for families will be introduced for those that cannot meet the bank deposit to take a first home loan but may be in a position to make the loan repayments.
Corporate tax decreased
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