East Timor to review corporate tax reductions

ABC Radio Australia

Last Updated 28/01/2008, 16:45:59

East Timor's government is conducting a major review of the country's tax and investment laws in a bid to lure foreign investment.

East Timor's economy and development minister, Joao Gonsalves, says the level of tax imposed on companies is to be dropped from 30 per cent to 10 per cent.

He says this is one of numerous measures aimed at attracting foreign investors.

"We're also bring down import duties as well as reviewing other taxes including salaries... so it's a major review," he said.