The Budget Bill for 2014 was enacted on 23 January 2014 as the Finance Act 2014.Key points of the Budget are summarized below. Direct taxation (a) Corporate taxation - The corporate tax rate will reduce by 1%, from 25% to 24%, from the year of assessment 2016. - From the year of assessment 2015 onwards, secretarial and tax filing fees will be an allowable tax deduction. - Current tax incentives for new investments in 4* and 5* hotels (which were due to expire on 31 December 2013) will be extended until 31 December 2016. - Companies which adopt Flexible Working...