According to figures recently released by the UK's Federation of Small Businesses, SMEs and micro-businesses were hard hit in the final quarter of last year by a combination of factors, including increased utility bills, high inflation, and reduced consumer spending power. RSS
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The implementation of new rules and support for SMEs and other businesses in Singapore to re-employ older workers, in the face of a rapidly ageing population took effect earlier this month. RSS
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Figures published by the Hong Kong Companies Registry earlier this month have revealed that the number of start-ups registering in 2011 showed an increase of 6.31% last year on 2010 figures, with a record 148,329 registering over the course of the year. RSS
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The Irish Small and Medium Enterprises Association (ISME) has this month slammed the Republic's government once again for delays in implementing the jobs initiative that was a key post-election pledge. RSS
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Concern has been expressed regarding a ramping up of HM Revenue and Customs' Business Record Checks programme set to take place in April, with many small businesses fearing that the fine which can be imposed if they fail to provide adequate records to support their tax returns may push them into insolvency. RSS
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According to a recently published poll, although the global economic downturn and the strong Swiss franc have affected smaller firms in Switzerland to a lesser extent than their larger counterparts, in the third quarter of 2011, the economic situation had a more significant negative impact on the SME sector too. RSS
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A survey recently published by global accounting and consultancy firm, UHY, has found that while business start-ups in Dubai declined 4.8% over the overall study period of 2006-10, new business launches jumped 53.1% in 2010. RSS
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Responses from the small business community to the budget delivered in Ireland on Tuesday have ranged from underwhelmed to outraged, with the Irish Small and Medium Enterprises Association (ISME) in particular condemning the austerity budget as 'smoke and mirrors'. RSS
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Although painting a generally gloomy picture of the state of the UK economy in his November 29 Autumn Statement, Chancellor of the Exchequer, George Osborne attempted to extend an additional helping hand to small businesses. RSS
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Figures recently released have revealed that the banks participating in the Project Merlin small business lending programme are falling short in terms of fulfilling their obligations to SMEs in the UK. RSS
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According to the results of the eighth annual survey conducted by the Action Community for Entrepreneurship, small and other businesses in Singapore are satisfied with the support that they are receiving from government regulatory agencies. RSS
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UK Employment Minister, Chris Grayling has pledged to reduce the impact of red tape on small businesses, and to help them recruit, it emerged last week RSS
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Despite a recent meeting of the Legislative Council to discuss amendments to the Competition Bill, the Hong Kong General Chamber of Commerce (HKGCC) has argued that the aspects likely to adversely affect SMEs in the territory remain an issue. RSS
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A recently published survey has shown SMEs in Singapore turning more towards domestic expansion in response to the continuing global economic downturn. RSS
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Uncertainties surrounding the international economic climate coupled with an overvaluation
of the Swiss franc have affected how small- and medium-sized companies in Switzerland perceive their outlook, according to a recent survey. RSS
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Commenting on the revelation this week that the government will not be unveiling details of its strategy to boost employment in the Republic until early next year, the Irish Small and Medium Enterprises Association has slammed the delay, accusing the government of inaction on unemployment. RSS
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UK Chancellor of the Exchequer, George Osborne has this week signalled a new Treasury initiative designed to ease the finances of strugging small businesses. RSS
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It emerged this week that the European Commission has cleared an expansion to the Enterprise Investment Scheme (EIS) benefits for investors in the UK, first announced by Chancellor George Osborne in his March budget. RSS
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The launch this month in Dubai of the Majid bin Mohammed Innovation Centre, also to be known as the 'in5' business incubator, has been welcomed by the Emirate's SME sector. RSS
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Representative bodies for the Irish small business community, including the Irish Small and Medium Enterprises Association (ISME) and the Small Firms Association (SFA) have hit out angrily at the assertion made in a recent report on the activity of the Credit Review Office that state-supported banks AIB and Bank of Ireland will fail to meet their EUR3bn lending target to small businesses because demand for credit is low. RSS
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The government of Singapore is boosting its spending on assistance for small and medium enterprises wanting to innovate technologically, with SGD320 million set aside over the next five years for its Technology Innovation Programme (TIP). RSS
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The UK's Federation of Small Businesses has called for the extension of the Work Trial programme, following indications in a recent FSB survey that such a move would incentivise small businesses to take on more people. RSS
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Closer ties between the Chinese Mainland and Hong Kong are set to benefit SMEs and other businesses in the SAR, according to the Hong Kong General Chamber of Commerce. RSS
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The UK government has this week announced the locations of the remaining 11 Enterprise Zones, following on from the first wave announced in Chancellor George Osborne's March budget. RSS
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In its Autumn Economic Statement, Ireland's Small Firms Association urged the need for 'sensible policy decisions and strong political leadership to create a better and sustainable enterprise and economic future', arguing that things in the Republic are still economically 'very challenging'. RSS
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It emerged this week that another bank has signed a partnership agreement with Dubai SME to provide benefits and support to the Emirate's top 100 small and medium-sized enterprises. RSS
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It was announced earlier this month that SMEs in the manufacturing and manufacturing-related sectors in Singapore are to benefit from the creation of a targeted productivity and innovation training programme. RSS
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The UK's Federation of Small Businesses (FSB) has urged the government to implement temporary VAT cuts for certain sectors, in order to prevent further economic stagnation. RSS
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Small businesses in the UK are getting a raw deal in their dealings with HM Revenue and Customs, an accounting industry body has argued. RSS
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Most Swiss companies view technological progress as a means by which to actively
influence their own future. Indeed, according to a recent study conducted by Credit
Suisse, 94% of the 1,800 small- and medium-sized Swiss firms surveyed even
consider innovation to be vital to the very survival of the company. RSS
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Following mounting pressure from the US attorney’s office, Switzerland has
finally handed over to US investigators comprehensive, encrypted, banking data
pertaining to eleven Swiss banks, alleged to have aided wealthy Americans to evade
US taxes amounting to billions of euros. RSS
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The Philippines Bureau of Internal Revenue has received an instruction from
Finance Secretary Cesar Purisima to formulate policies leading to
a substantial increase in the income tax compliance of the country’s professionals
and self-employed. RSS
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The Hong Kong Mortgage Corporation Limited has announced that it will shortly seek approval to launch a microfinance pilot scheme with a trial period of three years, from mid-2012. RSS
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High corporation tax rates penalise the only organisations capable of driving economic recovery in the UK, according to the Centre for Policy Studies. RSS
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Leading offshore law firm, Mourant Ozannes, has opened an office in Hong Kong
to provide clients and intermediaries with access to the firm's offshore legal
services in an Asian time zone. RSS
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During his testimony to the Chamber of Deputies’ Finance Committee, the
Director of the Italian Revenue Agency, Attilio Befera, pointed to the Agency’s
new ability to crosscheck taxpayers’ spending against declared incomes as
the weapon that might win the government’s war on tax evasion. RSS
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The United States Internal Revenue Service and Justice Department have announced
the results of a national sweep cracking down on suspected identity theft perpetrators,
as part of a stepped-up effort against refund fraud and identity theft. RSS
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French Socialist candidate for the Elysée, François Hollande,
has recently unveiled details of his presidential election programme, containing
a raft of fiscal measures, designed to stimulate the economy, to support small- and medium-sized companies in France, and to
reduce the public deficit to 3% of gross domestic product in 2013. RSS
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The introduction of Pooled Registered Pension Plans will bridge gaps in Canada’s retirement income system, the Minister in charge has said. RSS
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The Austrian finance ministry has recently announced that the state deficit
for 2011 was significantly lower than originally forecast, noting that the government
received around EUR910m (USD1.2bn) more in fiscal revenues than initially anticipated
and that spending was approximately EUR2.3bn less. RSS
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During a recent hearing, the United States Senate Committee on Finance looked
at the group of tax provisions requiring frequent annual renewal, commonly called
the 'tax extenders', in the context of seeking longer term solutions
and, thereby, providing tax certainty. RSS
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Hong Kong’s Financial Secretary, John C Tsang, has unveiled a 2012/13 Budget
which proposes a wide range of tax concessions aimed at supporting businesses
and individuals, who face a possible global economic slowdown. RSS
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The UK tax authority HM Revenue and Customs will show leniency to taxpayers who file their self-assessment returns after the January 31 deadline, after fears
that taxpayers would be unable to get through to call centres on the day, thus
placing them at a disadvantage. RSS
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Ahead of a key European Union summit meeting in Brussels focussing on stricter
budgetary discipline, German Finance Minister Wolfgang Schäuble urged
Greece to implement vital reform measures to redress the state finances, warning
that failure to do so might result in the second euro zone bailout package being
withheld, and ultimately in bankruptcy. RSS
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Carey Olsen and Heritage International Fund Managers Limited have acted for Better
Capital Limited, an existing Guernsey closed-ended fund listed on the London Stock
Exchange, on its innovative conversion into a uniquely-structured protected cell company. RSS
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The introduction of a revised regulatory regime for 'Private Placement Funds'
will enhance Jersey's position as a centre for international funds business, according
to a leading funds lawyer at offshore law firm Mourant Ozannes. RSS
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Canada's Revenue Minister has been promoting a new non-refundable tax credit for volunteer firefighters which will help reduce income tax bills by nearly CAD500. RSS
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UK shareholders will be given more powers to block excessive pay proposals and payments for failure under new proposals from the Business Secretary, Vince Cable. RSS
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The UK's tax system cannot go on as it is, the Deputy Prime Minister Nick Clegg has said, reiterating his commitment to a mansion tax and calling on the Chancellor to accelerate plans to raise the tax free threshold. RSS
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Puerto Rico’s Resident Commissioner, Pedro Pierluisi, has introduced proposed
legislation into the United States Congress that looks to extend the Supplemental
Security Income programme to Puerto Rico, as well as to Guam, the US Virgin
Islands and American Samoa. RSS
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Finance Malta, the public-private partnership set up to promote Malta's financial
services sector, has launched a set of technical and promotional guides in support of local practitioners to aid prospective investors considering operations in Malta. RSS
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European Justice Commissioner Viviane Reding has proposed a comprehensive reform of the European
Union 1995 data protection rules to strengthen online privacy rights and
boost Europe's digital economy. RSS
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France’s solidarity tax on wealth, which was radically reformed by the government in
June last year, has served to yield much greater fiscal revenues for the state
than initially predicted. RSS
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At a recent meeting, the United States Trade Representative Ron Kirk and Egyptian
Minister for Industry and Foreign Trade Mahmoud Eisa agreed to develop an Action
Plan designed to enhance further the already strong bilateral trade and investment
relationship. RSS
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Hoping to avoid an electoral defeat in the forthcoming presidential elections, French President Nicolas Sarkozy intends to unveil concrete details
of proposed fiscal measures designed to stimulate the country’s economy
on January 29. RSS
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The Irish government is to introduce two major new immigration initiatives aimed at encouraging non-European migrant entrepreneurs and investors. RSS
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Vietnamese Prime Minister Nguyen Tan Dung has signed a Decision which approves
an additional delay to the tax payments of small and medium-sized enterprises
and those businesses employing a significant number of workers in certain labour-intensive
sectors. RSS
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During a recent working visit to Luxembourg, Belgian Prime Minister Elio Di
Rupo held talks with his Luxembourg counterpart Jean-Claude Juncker, with the
talks focussing on fiscal issues currently under discussion in the European
Union. RSS
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