Future Tax Cuts On The Cards

BMI View: Having kept taxes unchanged in February's budget, Finance Minister Tharman Shanmugaratnam will likely lower personal income tax in 2009, bringing them in line with corporate rates. With growth expected to slow during 2008 while inflation continues to increase the cost of living, we expect the government to veer towards helping boost disposable income in order to boost consumption, while maintaining spending on investment projects.

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