Tax holiday


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Tax holiday

A reduced tax rate that a government provides as an inducement to foreign direct investment.

Tax Holiday

A temporary suspension of a tax, especially a sales tax. Jurisdictions declare tax holidays at certain times of the year on the theory that doing so will stimulate consumer spending and thereby induce economic growth. Some U.S. states routinely declare tax holidays before school begins each year, for example. Critics of tax holidays maintain that they deprive the jurisdictions of revenue and that their effect on growth is overstated.
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Mississippi and South Carolina also have similar tax holidays for guns, according to the lobbying arm of the National Rifle Association, which supports the Texas proposal.
After considering input from all the members it was decided that a Tax Holiday should be treated as such and no tax should be levied, therefore the recommendation was approved.
Grimaldo expects to process as many sales during the two-day tax holiday as he does in the entire two months of January and February.
The hurricane supply tax holiday is proposed to last for up to 15 days, and will include items like:
For the next five years, so much of the profits which are transferred to a Special Economic Zone reinvestment reserve account would be eligible for the tax holiday.
The Tax Foundation report, however, argues that sales tax holidays do little to stimulate new sales, because consumers often wait for tax holiday periods to buy goods they would normally purchase anyway.
As of now, neither Democrats or Republicans are pushing for the payroll tax holiday.
The end of the tax holiday is looming so we're urging those who are in the process of purchasing a home or even those hoping to do so in the immediate future to act fast and make sure all parties, including solicitors and sellers are well aware of the deadline.
Under the scheme set up last year, new businesses outside of London, the South East and east of England were offered a tax holiday worth up to pounds 5,000 for each of their first 10 employees.
Congress and the White House soon will resume their fight over a Social Security payroll tax holiday, having approved a two-month extension of the one-year rollback that was scheduled to expire on Jan.
While county and municipal governments across Arkansas were advocating tax hikes to their citizens, the state government took a plunge into unfamiliar territory with its first-ever sales tax holiday timed for back-to-school shoppers.
NSBA has been urging a payroll tax holiday for some time, and, though only temporary, this could be helpful to small-business owners who are on the fence when it comes to hiring additional employees.