{"id":6293,"date":"2022-10-20T10:41:58","date_gmt":"2022-10-20T10:41:58","guid":{"rendered":"https:\/\/dev-espa.summerize.io\/up-to-half-tax-for-merging-businesses-the-incentives\/"},"modified":"2023-07-25T17:50:00","modified_gmt":"2023-07-25T17:50:00","slug":"up-to-half-tax-for-merging-businesses-the-incentives","status":"publish","type":"post","link":"https:\/\/espa.io\/en\/up-to-half-tax-for-merging-businesses-the-incentives\/","title":{"rendered":"Up to half tax for merging businesses \u2013 The incentives"},"content":{"rendered":"\n
\"\"\/<\/figure>\n\n

Income tax reduction of 30% or 50% for up to 9 years<\/strong> is provided for in the bill of the Ministry of Finance<\/a><\/strong> for businesses “Incentives for business development, through partnerships and \/ or corporate transformations”.<\/p>\n\n

The bill provides for tax incentives<\/strong> for small businesses<\/strong><\/a> and professionals to merge<\/strong>. The government’s goal through the bill is to create larger companies<\/strong>, more resilient to economic turbulence. Companies that will become more extroverted and increase their competitiveness and productivity<\/strong>, enhancing jobs. The broader goal is to change the country’s production model.<\/strong><\/p>\n\n

Through mergers, the tax rate is reduced to 15.5% for businesses and professionals and to 11% for farmers from the current 22%,<\/strong> provided that the new company to be created stays for at least five years.<\/p>\n\n

The conditions for a lower tax<\/strong> on businesses<\/strong><\/h2>\n\n

(1) “New company”<\/strong> means a company resulting from any form of business transformation,<\/strong> including corporate transformations of law 4601\/2019 (A’ 44) and the contribution of a sole proprietorship to any form of \n existing<\/a>\n<\/strong> \u03ae \n new company<\/strong>\n<\/a>.<\/p>\n\n

(2) The company shall have a duration of at least five years<\/strong> from the date of conclusion of the agreement or the establishment of the legal person or legal entity.<\/p>\n\n

(3) The total average turnover of the participating companies<\/strong>, taking into account the preceding three years, shall be at least equal to 150% of the turnover of the company with the highest<\/strong> average turnover among the cooperating companies of the last three years.<\/p>\n\n

4) The new company employs more than 9 full-time employees.<\/strong><\/p>\n\n

5) In the case of cooperation of natural persons, mainly farmers<\/strong>, the incentive of exemption from the payment of income tax at the rate of 50% of the profits,<\/strong> which arise from the exercise of an individual agricultural business activity, is provided, based on tax legislation, under conditions.<\/p>\n\n

(6) In the case of a business transformationthe tax benefit cannot exceed the total amount of 500,000 over 9 years<\/strong> while in the case of cooperation between persons, the tax benefit may not exceed EUR 125 000<\/strong> for each of the cooperating persons, calculated on the profits arising from the cooperation for each of them, over a period of three years. <\/p>\n\n

<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Income tax reduction of 30% or 50% for up to 9 years is provided for in the bill of the Ministry of Finance for businesses “Incentives for business development, through partnerships and \/ or corporate transformations”. The bill provides for tax incentives for small businesses and professionals to merge. The government’s goal through the bill 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