Summary: New Delhi [India], Aug 22 (ANI): The Central Board of Direct Taxes (CBDT) clarified on Thursday that small start-ups with turnover up to Rs 25 crore will continue to get the promised tax holiday
as specified in Section 80-IAC of the Income Tax Act 1961 which provides deduction for 100 per cent of income for three out of seven years from the year of incorporation.
The location disadvantage of being far away from seaports, lack of fiscal incentives like tax holiday
of about 10 years, irrationally high electricity tariff and non-availability of skilled workers are the major impediments in giving impetus to industriaisation in Khyber Pukhtunkhwa.
it also includes five-year tax holiday
on income accruable in relation to the development and operation of the SEZ for the developer.
If the Federal Government can give 10 year tax holiday
to companies, why not give the same to workers?
has bagged a set of fiscal incentives, including income tax holiday
, for its 1.5-million metric ton new integrated cement production line in Antipolo City.
The Finance Ministry has announced an exemption to all policy holders who renewed or purchased personal insurance or general takaful policies during the tax holiday
which took place between June 1 and August 31 this year.
"We have to get more transparency so that there is a level of accountability for government as well as the companies involved," he said.Commenting on the 10-year tax holiday
enjoyed by firms producing under Special Economic Zones (SEZs) and Export Processing Zones (EPZs), Mr Wanyama said the period is too long and presents another loophole for the economy to lose revenue.
* Five-year tax holiday
for the cultivation of horticultural crops, cash crops, fish farming, poultry and farming livestock other than cattle
According to the Tax Foundation, the first sales tax holiday
was offered on automobile sales in 1980 in the states of Ohio and Michigan (Joseph Bishop-Henchman and Scott Drenkard, 2017, "Sales Tax Holidays
: Politically Expedient but Poor Tax Policy," http://bit.ly/2PLNljE).
As a non-pioneer project, the San Miguel Corporation's subsidiary is entitled to a 5-year income tax holiday
, which the company can start availing once it starts commercial operation in February 2024.
Wisconsin offers its first back-to-school sales tax holiday
through Sunday, but people can save on more than pencils and school clothes.