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Jobs tax credit

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Jobs tax credit

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BUSINESSES WHICH add employees to their payroll will get back a quarter of their expenses from Government.
The tax credit, announced by Minister of Finance and Economic Affairs Chris Sinckler in the House of Assembly yesterday, has been offered to businesses as a way to retain employment and possibly create new jobs in anticipation of continuing global economic difficulties.
“The tax credit granted would be provided on condition that increased employment is maintained for three years beginning in income year 2011,” Sinckler said.
“The Productivity and Innovation Tax, which we’re calling it, would be introduced as a means of ensuring that there are greater levels of investment and innovation that lead to the development of new manufacturing processes [and] that there is organizational innovation which establishes new ventures for improved productivity.” (RJ)
Full story in today’s SATURDAY SUN.