Tax and Creativity
Tuesday, September 30, 2008
THE government should be commended for having standardized a new income tax law. The new law which comes into effect next year deserves appreciation as it provides for tax incentives in the form of tax exemptions and deductions, an improvement over a similar law enacted in 2000.
Tax breaks are a sensitive issue. Therefore, the government should be very careful in implementing the law. Article 4 paragraph 3 of the new law provides that tax exempt
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