March 15, 2007	Thursday	Safar 25, 1428

BERLIN, March 14: The German government on Wednesday adopted draft proposals for a reform of corporate taxation that would lead to a big cut in company taxes from next year. Under the draft law put forward by Finance Minister Peer Steinbrueck, companies will see their tax rate cut to 29.8pc from 38.7pc at present from 2008. "We want to make Germany more attractive as a site for investment and stop the erosion of the tax base," Steinbrueck said, insisting that reform was urgently needed. —AFP