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Government is making SMEs pay the price for a lack of strategic vision
Government is making SMEs pay the price for a lack of strategic visionThe De Wever government is raising tax rates on profit distributions for small companies, placing an extra tax burden on SMEs. According to Frederik De Graeve, these measures aren’t a fair reform, but a quick fix for budget problems that are affecting the entire economy. The tax rate increases are being sold as a fight against abuse, but in reality they hit every small business. This policy leads to lower investment, higher prices and a general tax increase that affects entrepreneurs, employees and consumers. Frederik calls for a targeted and consistent approach to abuse, rather than general tax increases.
New tax measures upcoming - Update
Covid-19At the start of the COVID-19 crisis, the federal and regional governments immediately implemented a number of tax (and other) measures. Those first measures were mainly focusing on preventing any cash flow problems for companies and for the self-employed. On the long term however, not only the (lack of) cash flow causes issues. The impact of the current crisis goes far beyond cash flow and it is certain that it will take several years before the impact of the economic crisis will be digested.
New tax measures upcoming - Update
Covid-19At the start of the COVID-19 crisis, the federal and regional governments immediately implemented a number of tax (and other) measures. Those first measures were mainly focusing on preventing any cash flow problems for companies and for the self-employed. On the long term however, not only the (lack of) cash flow causes issues. The impact of the current crisis goes far beyond cash flow and it is certain that it will take several years before the impact of the economic crisis will be digested.
Frederik De Graeve
Certified Tax Advisor | Partner Tax & Legal