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Published on September 25, 2007

Office adviser Somchai Sujjapongse said yesterday he would table restructuring proposals with Finance Ministry permanent secretary Suparut Kawatkul within the week. Adding that it would be a rolling revamp over 10 years starting next year.

Restructuring will make the tax structure more fair and help improve business competitiveness. The plan calls for a cut in both corporate and personal-income taxes.

This will attract investment into the country, he said. Malaysia cut corporate tax to 15 per cent, compared with 30 per cent here, he said.

Meanwhile, Somchai was confident the government would run a budget surplus from 2009.

The Nation