Italy: Small businesses consider tax cut to be insufficient

29 April, 2014

In Italy the association representing small and medium-sized enterprises, has suggested that the government’s plan to  reduce the regional tax on production activities (IRAP) by 10 percent will only bring a very small measure of assistance to

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China: Additional tax cuts for small business

16 April, 2014

China’s State Council meeting on April 2, 2014 decided on a number of changes including more tax cuts for micro and small-sized enterprises. These enterprises are defined as businesses with an annual taxable income under RMB 60,000 (USD 9,650).

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Russia – Investment in Russian SEZs Increases in 2013

23 March, 2014

The Special Economic Zones (SEZs) set up by Russia attracted an increased amount of investment in 2013, totalling RUB 30.2 billion in the year. Revenues of RUB 50 billion were earned in the zones, and 3,145 new jobs were created. The Russian

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Lithuania : Loss carry forward limitations, extended incentives and reduced VAT rates

23 February, 2014

Losses carry forward limitations: Beginning in 2014, the ability of corporations in Lithuania to carry forward tax losses, for corporate income tax purposes, is limited. In calculating their corporate income tax for 2014 and subsequent tax periods,

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Hong Kong: Ensure Support for SMEs

19 December, 2013

In response to a question in the Legislative Council, Hong Kong’s Secretary for Commerce and Economic Development confirmed that the Government will arrange continued support for small and medium-sized enterprises (SMEs). The numbers of SMEs and

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Belgium increases withholding tax exemption for SME employers

17 December, 2013

A draft Royal Decree is approved by the Council of Ministers. It is relating to an increased exemption from professional wage-withholding tax (précompte professionnel) only for employers in the small- and medium-sized enterprise (SME) sector. For

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Argentina – Extension of the new tax incentive regimes

03 December, 2013

Two tax incentive regimes in force in Argentina for certain investments have been extended. Law 26.895 which was published in the official gazette on 22 October 2013 has been extended to 31 December 2014. This relates to the period for taxpayers to

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For Far-East region Russia has sanctioned Federal Law

19 November, 2013

Russia’s President has signed Federal Law No. 267-FZ on September 30, 2013 to provide incentives for completing regional investment program within the Far East regions. In order to raise financing in the economy of the far-east region, the law

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UK: Statistics for Research and Development Tax Relief

01 September, 2013

The HMRC published the statistics on 15 August 2013 for the uptake of the research and development tax relief in the UK.  This tax relief allows an enhanced tax deduction for expenditure on research and development. In the case of large companies

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Taiwan: Pilot free trade zones to be established

11 April, 2013

Taiwan has revealed that pilot free trade zones are to be established to liberalize the island’s economy and upgrade the industrial structure. The Council for Economic Planning and Development (CEPD) aims to attract high value-added industries

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