Also in the news...
Paul Beare Wins IR Global Member Of The Year
Paul Beare has been named Member of the Year at this year’s IR Global Conference in Amsterdam.
The Biggest Problem With Running A UK Payroll
We explore the biggest problem with running a UK payroll, together with the required functions of payroll calculations and net salary.
Taking It For Granted: How The UK Government Helps Growing Firms
In the UK, a number of government agencies offer a range of grants to help smaller firms to grow and prosper. The grants are typically designed to support innovation, encourage job creation, and underpin growth. In the last few years, a number of new initiatives have emerged, including grants aimed at boosting green technology and digital transformation.
Start-ups Wasting Over 2 Weeks And £37 Billion A Year On Admin
UK start-ups and microbusinesses are wasting over two working weeks every year on admin tasks, including managing mobile phone contracts, choosing energy providers, and buying insurance – according to new research.
The Costs For International Businesses Employing In The UK
In an ever-globalising business landscape, expanding operations to the United Kingdom can be a strategic move for international companies seeking new opportunities.
Tax Reduction for IT Companies Extended
On August 11, the official gazette confirmed that the 80% reduction in IPI tax currently enjoyed by the IT industry due to expire at the end of this year is to be extended to 2024, after which a 75% reduction will be applied between 2025 and 2026 and a 70% reduction from 2027 until 2029.
IPI tax is a value added tax that is applied to all goods imported or manufactured in Brazil. The rate of IPI applied depends on the product, but averages around 10% of the assessed worth of the product (applied on an ad valorem basis).
The gazette also confirms that IT companies are required to invest at least five percent of their gross sales in research to develop the sector.
Additionally, the gazette confirms that the free trade areas of North Brazil will continue to provide additional tax benefits until the end of 2050, and the Manaus Free Trade Zone will be extended until 2073.