Tax reform proposals for 2010

On 22 December 2009, the Cabinet released the tax reform proposals for 2010. The proposals, which are summarized below, generally take effect on 1 April 2010 when passed by the parliament.

Company group taxation regime

It has been proposed to introduce a corporate group taxation regime which will apply automatically (i.e. the corporate group does not get to elect to apply the group taxation). Under the regime, a "corporate group" is defined as a domes…