Canadian gov’t helps big businesses weather COVID-19 pandemic
Canada helps small and medium as well big businesses in the midst of the COVID-19 pandemic. ... - Continue reading
Category: Small and Medium-sized Enterprises
OECD boss: Coronavirus crash will not be as bad as Great Depression
By now, the whole world is preparing for an impending global recession due to the COVID-19. Different experts are presenting their different views on the matter. While many are expecting a recession that will hit harder than the Great Depression, the secretary-general of the OECD, Angel Gurria does not seem to be sharing the same opinion. Here are more details. ... - Continue reading
Traders press for incentive package to document economy
Pakistan urged for more incentives by traders. ... - Continue reading
Value added textile demands zero rated sales-tax regime
The value added textile export sector has demanded the government to revive zero-rated sales-tax regime and reinstate SRO 1125 in its true spirit to address the industries’ liquidity problems. ... - Continue reading
Taxing times for SMEs
Globalisation of the economy has resulted in a shift in the way Singapore corporations operate – from local country-specific business models, to global integrated supply chains which centralise functions at a regional or global level. Singapore, in particular is a popular location to house regional and global operations, due to… – Continue reading
Africa’s problem with tax avoidance
Every year African countries lose at least $50 million in taxes — more than the amount of foreign development aid. So where is it all going and how can multinational companies be held to account? NGOs continue to raise the alarm. African countries are being cheated out of billions in… – Continue reading
No double VAT
Small business owners are being told that they will not have to pay Value Added Tax (VAT) twice if they have already paid the tax while making an online transaction, one of the Government’s top consultants on the economy has told the small business association. Starting on May 1, Barbadians… – Continue reading
Gov’t targets to lower corporate tax rate
The government is targeting to increase tax compliance among Micro Small and Medium Sized Enterprises by offering them lower corporate tax. East African Affairs Cabinet Secretary Adan Mohammed says various government agencies are working closely in integrating all tax payment regimes to ease tax payment and boost compliance. Tax avoidance… – Continue reading
Australian PM Planning New SME Tax Changes
Australia’s new Prime Minister has said his Government is working on plans to help improve the tax competitiveness of small businesses. Former Treasurer and now Prime Minister Scott Morrison had been at the forefront of the Government’s two-year battle to pass a package of company tax cuts. He had sought… – Continue reading
How to Apply for CIT Incentives in China
China offers a number of preferential corporate income tax (CIT) policies for businesses operating in the country. Businesses that qualify for these preferential policies can benefit from incentives like CIT rates lower than the standard 25 percent rate and other CIT exemptions and deductions. These preferential tax treatments, however, do… – Continue reading
SMEs are paying more corporation tax than bigger businesses
According to figures released earlier this year, SMEs are in fact paying more corporation tax than larger more complex organisations. Specifically, the rate paid by SMEs in 2016 was 21.7%, while it was 20% for businesses with a turnover of £1billion. The research was conducted by accountancy firm Moore Stephens,… – Continue reading
SMEs getting into the tax optimisation game
PARIS (AFP) – Tax optimisation is no longer a matter just for the multinationals. A number of market players are now tailoring strategies originally drawn up for the corporate whales to the minnows, or small businesses and independent entrepreneurs. Whether the businesses are active in imports and exports, or in… – Continue reading
Business owners believe Irish tax code ‘is barrier’ to growth
Survey respondents cite high marginal rates and lack of staff reward schemes as negatives More than half of Irish business owners view the State’s tax code as a barrier to growth rather than a support, according to a survey by accounting and professional services firm Deloitte. Respondents cited Ireland’s high… – Continue reading
Revenue’s crackdown on VAT evaders yields £3.4bn from small and medium firms
Revenue & Customs collected an extra £3.4billion from small and medium-sized businesses in the tax year to April 2017 after a crackdown on firms that fail to pay VAT, according to tax investigation insurance company PFP. VAT accounted for 49 per cent of the extra tax take from investigations into… – Continue reading
Australia Amends Company Tax Cuts Package
Australian lawmakers have passed legislation to cut the company tax rate for SMEs. However, the Enterprise Tax Plan was only partially approved. On March 31, the Senate passed legislation to phase in three years of changes to the company tax system. The Government’s original proposals had covered a period of… – Continue reading
