KUALA LUMPUR (Oct 1): There could be further reductions in corporate tax announced in the upcoming Budget 2015, according to Pricewaterhouse Coopers (PwC) Taxation Services Sdn Bhd Senior Executive Director Jagdev Singh.

Speaking to reporters after a media briefing today, Singh said while there had been a one percent reduction to 24% last year, the government could announce further reductions this year.

"Other countries in South East Asia like Thailand, Vietnam and Singapore, are already heading towards 20%," he said.

Singh opined a further cut in personal tax would help ease the rising cost of living.