Governments sometimes offer tax breaks to encourage entrepreneurship and investment. Some lower tax rates for startups, tax holidays for new businesses, or incentives for sectors like manufacturing and agriculture, these benefits can significantly reduce your tax liability.
In many countries, VAT exemptions apply to exported goods, while businesses in special economic zones may qualify for reduced tax rates. Knowing what’s available can save you money, but it’s up to you to take the initiative to find out. Speak to a tax consultant or check with your revenue authority to see if your business qualifies for any incentives.
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