Also in the news...
Press release New plans revealed to help small firms and improve access to cash
New Fair Payments and Disability Finance Codes launched to support SMEs
Guidance Overseas business risk for Taiwan
Information on key security and political risks which UK businesses may face when operating in Taiwan.
Guidance Overseas business risk for Guinea
Information on key security and political risks which UK businesses may face when operating in Guinea.
Activities With Tax Reduction
It is of utmost importance to check, if according to law, the activities you carry out have any tax incentive for income tax purposes. The Income Tax Law in its Title VII - On Fiscal Incentives, indicates in each chapter those activities that enjoy reductions and facilities for the payment of their taxes. The activities are as follows:
How Organised Leave Planning Improves Workplace Efficiency
Efficient leave planning is essential for any organisation to maintain productivity and ensure employee satisfaction. When done effectively, it can prevent disruptions, foster collaboration, and promote a balanced work environment.
Trading under sanctions with Russia
What import and export restrictions apply due to sanctions for UK companies when trading with Russia.
he UK government has imposed a range of sanctions measures, including trade and financial sanctions, under The Russia (Sanctions) ( EUExit) Regulations 2019(“the Russia Sanctions Regulations”).
The purposes of the Russia Sanctions Regulations are to encourage Russia to cease actions:
- destabilising Ukraine, or
- undermining or threatening the territorial integrity, sovereignty or independence of Ukraine
UK businesses are responsible for the decision on whether to trade with Russia.
Business should expect a high unpredictable trading environment as a result of:
- designations of individuals and entities under the Russia Sanctions Regulations by the UK
- retaliatory measures by Russia
The Russia Sanctions Regulations affects several aspects of trade with Russia, including:
- the movement of goods to and from Russia
- the settling of financial transactions with suppliers and customers
- trading with certain businesses and individuals
Businesses should seek legal advice if they plan to continue trading with Russia.