The Budget for 2010-11 was presented to Parliament by the Minister of Finance on 17 February 2010. Details of the Budget regarding direct taxation, which unless otherwise indicated will apply from 1 March 2010, are summarized below. (a) Corporate taxation. Proposals include: -   to introduce legislative changes to address aggressive tax schemes such as: (i) interest cost allocation for financial institutions; (ii) offshore protected cell companies; (iii) schemes channeling deductible amounts to residents in the form of tax free foreign dividends; and (iv) restricting the interest exemption for non-residents investing in financial instruments (exceptions will apply); -   to...