The Finance Bill is still under discussion in the Parliament before being passed into law effectively 1 July.Therefore, there could be further changes prior to it being passed and enacted.
What was termed as minor amendments in the budget include:
1) Proposal to increase AMT to 1% from 0.3% for companies that make losses for 3 consecutive years.
2) The tax amnesty proposal not so clear and still subject to the minister issuing regulations or government notice which will include conditions for getting the amnesty.
