Approval by the national assembly of a tax reform with an estimated net yield of at least C$700 million (1.7 percent of GDP) on an annual basis and C$500 million in 2003 (1.2 percent of GDP), and consistent with a combined public sector deficit no higher than 6.3 percent of GDP. The reform should inclue the elimination of the list of zero-rated VAT products, except for exports, a minimum corporate income tax of 1 percent of assets value, and  the taxaion of interest income, as d3scribed in Paragraph 5 of the Supplementary Memorandum of and Financial Policies (SMEFP).
At P1R1R2, this former sb was modified, and upgraded to a prior action.