May Tax Season Approaches: Ministry of Economic Affairs Urges SMEs to Seize 3 Major Tax Incentives

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The Ministry of Economic Affairs is encouraging small and medium-sized enterprises (SMEs) to take advantage of three significant tax incentives during the upcoming May tax season. These include tax credits for R&D expenditures, a 200% income deduction for hiring at least two entry-level employees aged 24 or younger or 65 or older, and a 175% income deduction for increasing wages for entry-level staff. These measures aim to reduce tax burdens and promote R&D, employment, and wage growth.