Tax Reform Phase I – Tax year 2010
Click to Individuals
COMPETITIVENESS TAXES
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A new tax credit to all taxpayers this year 2010. This measure represents a tax relief of $240 MM for all taxpayers and $306 on average per taxpayer
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A tax credit to all non-exempt corporations in 2010, tax credit of 7% on tax liability conditioned on the payment of the Christmas bonus
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The last two payments on the special property surtax is eliminated. Last payment will be on March 2011
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Extension of carryover period for net operating losses (NOLs) incurred during the years 20052011 from 7 to 10 years
Source: Government Development Bank
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