OECD: Financing SMEs and Entrepreneurs 2016
On 14 April 2016 the OECD published Financing SMEs and Entrepreneurs 2016. The study covers 37 countries including China, Russia and many OECD member countries. The report notes that governments are looking to small and medium enterprises (SMEs) and
See MoreTurkey: Personal income tax exemption for young entrepreneurs
Law No. 6663 amending the Individual Income Tax Law (Law No. 193) was published in the Official Gazette on 10th February 2016. The law introduces a new partial tax exemption (Article 1) for young entrepreneurs. Article 1 of the Law entered into
See MoreTaiwan: Proposes Tax Breaks In Return for Wage Hikes
A modification to the Statute for Developing Small- and Medium-Sized Enterprises (SMEs) in Taiwan, which will provide corporate income tax breaks to those businesses raising wages for their lower-level employees, has passed its first committee
See MoreCanada: New CRA tax compliance agenda for SMEs
The Canada Revenue Agency (CRA) has taken a new approach for developing tax compliance among small- and medium-sized enterprises (SMEs). This approach is proposed to help for preventing errors in business tax returns after they are filed. In
See MoreCanada: Announcement of mobile app for SMEs
The Canada Revenue Agency (CRA) has announced a mobile application for small- and medium-sized businesses (SMEs) that will let users to make reminders for key tax dates. After consulting with SMEs, the Government has developed the app to reduce red
See MoreFrance- Lawmakers Seek Simpler Tax Regularization Scheme
French members of parliament have indicated that offering taxpayers a chance for tax regularization through a lump sum 10 percent tax on assets repatriated would raise revenue for the government of around EUR 10 billion. Around half of this sum
See MoreUS – IRS to Restructure Services for Small Businesses
The IRS is considering a project to reorganize operations at its two largest business units, Wage and Investment (W&I) and Small-Business Self Employed (SB/SE). The aim would be to eliminate the duplication that may arise from the potential
See MoreItaly: Small businesses consider tax cut to be insufficient
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
See MoreChina: Additional tax cuts for small business
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).
See MoreHong Kong: Ensure Support for SMEs
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
See MoreBelgium increases withholding tax exemption for SME employers
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
See MoreUK: Statistics for Research and Development Tax Relief
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
See More