DTC calls for public comment on revised SME tax report
The Davis Tax Committee (DTC) on Monday published a revised small and medium-sized enterprise (SME) interim report for public comment.
The report outlines the role of SMEs in the economy, the definition of a small business and the challenges smaller businesses face, particularly in terms of tax compliance.
The report also reviewed income tax incentives for small business corporations; the income tax incentive for venture capital companies to fund small businesses; the alternative presumptive turnover tax system for microbusinesses; the value-added tax requirements for SMEs; and the impact of the new Employment Tax Incentive on SMEs.
The closing date for comments is August 31.
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