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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LCCI Vice President Kashif Anwar urged the chief commissioner to extend the date for the tax incentive package as it had come into his knowledge that some businessmen who wanted to avail the opportunity were out of the country.
According to the survey, only one tax incentive - Capital Allowances - was recognised by more than half of respondents (55%) surveyed.
Another change to the Local Taxes and Fees Act envisages partial amendments to the tax incentives for vehicles.
More than 20 states have varying tax incentive programs to lure data centers to their respective states, but even with the new law, Texas does not boast the best of them.
Tax incentive firms have database feeds from all over the country, and even the world, to keep them up-to-date on the latest changes.
The innovative activity does not have to be successful to qualify for the tax incentive.
According to the Joint Committee on Taxation, in 2010, the United States federal government handed out $123 billion in tax incentives to various corporations.
The proposal calls for a sliding scale of tax incentives based on demonstrable improvements in energy performance relative to the building's pre-renovation performance.
The company is receiving the tax incentive for a new information technology facility.
The MOEA believed that tax incentive for R&D should be set at the upper limit in the first year after the implementation of the Statute for Industrial Innovation from this year, in order to encourage R&D investment by enterprises and develop Taiwan into a R&D center.
The biodiesel tax incentive had been included in a version of the Senate jobs measure unveiled last week by Sens.
In addition, the tax incentives of HSAs will lure uninsured people into the insurance market, reducing the numbers of families without health insurance.