A new set of personal tax rates are to be introduced as of October 01, 2008.
An increase in the tax bands is also scheduled to occur from April 2010 and April 2011.
| tax | on annual earnings |
|---|---|
| 12.5% | up to $14,000 |
| 21.0% | between $14,001 and $40,000 |
| 33.0% | between $40,001 and $70,000 |
| 39.0% | over $70,000 |