It has been reported that the government and the House of Representatives are at the final stages of issuing a new Income Tax Bill, which offers lowered tax rates and business incentives to curb widespread tax evasion and improve investor confidence. The Bill is expected to be enacted in August 2008 and implemented in 2009. The Bill provides for the following changes to the current tax regime: Corporate tax -   The current progressive tax rates of 10% to 35% will be replaced by a flat tax of 28% in 2009 and 25% in 2010. -   Micro, small and...