Overhaul and reform of SME tax system urged to spur startups
Deloitte said a 'significant' number of reliefs and incentives aimed at SMEs need to be refreshed and streamlined.
A reformed tax system for SMEs, to encourage the establishment of more start-up companies and to incentivise entrepreneurs, has been called for as part of a planned overhaul of how the State funds itself.
In its submission to the Commission on Taxation and Welfare, which is set to review the country’s tax system, Deloitte said more attention needs to be given to small businesses and entrepreneurs, in terms of tax measures, as has been the case with multinationals when attracting in-bound investment.
