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Annual Revisions to Tax Laws Proposed. On August 21, 2006, the Ministry of Finance and Economy (“MOFE”) announced the proposal for “Revision to Tax Laws In 2006” subject to legislative process and generally to be effective in 2007. The revisions include Corporate Income Tax Law, Individual Income Tax Law, Tax Incentive Limitation Law, National Tax Basic Law and Customs Act provisions. To introduce you with the main contents of the proposed revision, we plan to issue a special edition shortly.
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