tax break tagged posts

Belgium Luring Investors Through Taxes

November 16, 2010 Taxation in Belgium

Angel & National Flag of Belgium, Martyrs' Square - Place des Martyrs - Martelaarsplaats, Brussels, BelgiumBelgium has launched a campaign to attract greater numbers of foreign investors, predominantly by advertising the willingness of tax authorities to work with investors to create tailored tax packages which could lower effective corporate tax rates to below 25 percent.

At a recent conference co-hosted by the Belgian Government and the European Commission, representatives of Belgian tax authority explained several beneficial aspects of the Belgian tax system and the country’s propensity for accommodating innovative and environmentally conscious companies. Delegates at the conference were told that the Belgian tax system is especially beneficial to expatriate workers, with multinational employees being exempt from income taxes on days when they are not in Belgium...

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South Africa’s Tax Fueled Expansion

November 9, 2010 Taxation in South Africa

the not-so-impossible dreamThe South African Government has initiated a ZAR 6.5 billion (approx. USD 945.2 million) tax allowance program, in the hopes of greatly boosting the national manufacturing sector and supporting the training for low skilled employees.

On November 8th the South African Minister of Trade and Industry Rob Davies announced an ambitious new government project which will grant a range of tax allowances to national firms introducing and utilizing new or innovative manufacturing processes, or improving energy efficiency and reducing production waste technologies.

The new program grants tax allowances to companies based on the nature of their work, and the number of staff that will receive training by the company...

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US Tax Breaks Benefit the Rich Most

September 23, 2010 Taxation in USA

Clean 140In 2009 US taxpayers received nearly USD 384 billion in tax subsidies and incentives, however the tax breaks provided were enjoyed primarily by the highest income earners in the country, leaving poorer individuals relatively no better off.

On September 22nd the Annie E. Casey Foundation and the Corporation for Enterprise Development (CFED) released a joint report analyzing the distributions of tax breaks and incentives provided to taxpayers in the US. According to the publication, in the 2009 fiscal year USD 384.32 billion in subsidies was given out to taxpayers, although high income earners enjoyed a disproportionately larger availability to the tax breaks...

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Spaceship Tax Break Proposed

August 24, 2010 Taxation in USA

Space shuttle liftoff from the Kennedy Space Center: Merritt Island, FloridaA new legislation have been proposed to allow for special tax treatments of commercial space exploration companies, in an effort to minimize future space-industry job losses and expand the entire sector.

U.S. Senator Bill Nelson recently proposed a new legislation to amend tax laws, which would allow investors to write off 20 percent of their outlays into commercial space flight firms operating in special enterprise zones (SEZ). It is hoped that the idea will eventually encourage growth of companies creating products adequate for use in NASA space missions. If the legislation is accepted, the SEZs will be designated by the US Congress, although it is envisioned that they will be centered on current space-flight research and development centers.

The proposal was sparked by the imminent clo...

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Tax Break for Indian Directors and Managing Directors

August 3, 2009 Taxation in India  No comments

The Central Board of Excise and Customs (CBEC) of India has released their stance on service tax for Directors’ and Managing Directors‘ remuneration, clarifying that commission paid is in most cases not liable for service tax.

The CBEC has clarified their position on the situation of “commission” based on company performance being paid to Directors and Managing Directors, in regards to service tax purposes. Doubts were raised as to the position due to many of India’s listed companies treating the payments made towards Directors as “salary”, while in the strict reading of the law they were “commission”.

It was stated by the CBEC in a publication that “Some companies make payments to Managing Director/Directors (whole-time or independent), terming the same as commissions...

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