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Tax Reduction
171.
Additionally, in order to support small and medium enterprises, I propose a one-off tax reduction of 75 per cent of profits tax for 2007-08, subject to a ceiling of $25,000. The reduction will be reflected in the
taxpayer's final tax payable for 2007-08. The proposal will benefit all 100000 companies liable to profits tax and cost the Government $1.73 billion.
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