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Budget leaks: lowest corporate tax rate to be cut to 20%Friday 17 September 2010 Caretaker finance minister Jan Kees de Jager is planning to permanently cut corporate taxes to boost small and medium-sized firms, the Financieele Dagblad reports on Friday, quoting a leaked finance ministry document. The paper says De Jager wants to cut the corporate tax rate on the first €200,000 profit to 20% on a permanent basis - a measure which will boost smaller firms. The reduction was introduced as a temporary measure in 2009 to help companies hit by the economic crisis. Before then, firms paid 20% tax on the first €25,000 profit, rising in stages to 25.5% for profits over €60,000. De Jager is also planning to cut the top rate for all firms from 25.5% to 25%, the paper says. Successive governments have reduced corporate taxes because of fears that they made the Netherlands uncompetitive. In 2002, the top rate was 34.5%. The tax cuts are contained in the finance ministry's 2011 spending plans which are due to be formally published next Tuesday as part of the budget. © DutchNews.nl
and it's the normal guy in the street, working for these corporations, that will have to make up the shortfall by having our taxes increased. Did anyone actually remind the OUTGOING minister that Neoliberal economics has had its day? By john e boy | September 17, 2010 12:53 PM does that mean the cofeeshops will not have to pay 51% tax now By adhd | September 17, 2010 4:06 PM Great.....cut corporations taxes...increase ours....cut our health and other benefits....and we all go to hell. By Ames | September 18, 2010 11:47 AM
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It is imperative the government also reduce personal income tax rates! Small to medium enterprises are run by businessmen and CEO's who need incentives, not carry the heaviest tax burden. An average accountant earning €4500 per month is already paying 52% tax!
By kalajutu | September 17, 2010 10:04 AM