Business Income Taxation
Businesses in Xuande-Xiphoi are subject to Business Income Taxation, which is a flat rate of 26.25% of business income. Depending on the size of a business or company, businesses are entitled to a tax write-off of depreciating assets at a variety of values.
Where a business is established and undertakes a majority of it's trading and actively employs employees within a Specified Economic Zone, it is entitled to a reduced rate of business income taxation at a rate of 20%.
Small businesses can access a range of concessions including payment and reporting options; the a small business must have an annual turnover less than €20 million, and net assets worth less than €24.5 million.
Business non-profits also receive a wide array of tax concessions.
Where a business is established and undertakes a majority of it's trading and actively employs employees within a Specified Economic Zone, it is entitled to a reduced rate of business income taxation at a rate of 20%.
Small businesses can access a range of concessions including payment and reporting options; the a small business must have an annual turnover less than €20 million, and net assets worth less than €24.5 million.
Business non-profits also receive a wide array of tax concessions.