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MSMEs to benefit from $375,000 income tax credit

Minister of Foreign Affairs and Foreign Trade, Senator Kamina Johnson Smith, who piloted the Bill in the Upper House, noted that the tax credit will be particularly beneficial for MSMEs that have been hard-hit by the COVID-19 pandemic.
Operators of tax-compliant micro, small and medium-sized enterprises (MSMEs) will, in short order, begin to benefit from a special income tax credit of $375,000.
This follows the passage of the Income Tax (Amendment) Act, 2020, by the Senate on Friday (Dec. 17), to facilitate the move. The Bill was approved by the House of Representatives on December 15, the same day it was tabled by Finance Minister Dr Nigel Clarke. ....

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US Senate fails to pass Hong Kong refugee bill | Taiwan News

2020/12/19 14:21
Republican Ted Cruz blocks legislation granting Hongkongers temporary protection. (Taiwan News image)
Republican Ted Cruz blocks legislation granting Hongkongers temporary protection. (Taiwan News image)
TAIPEI (Taiwan) In a final attempt before Congress enters recess for the upcoming holidays, U.S. lawmakers failed to advance a bill through the Senate on Friday (Dec. 18) that would grant Hong Kong activists special refugee status.
Blocked by Republican Senator Ted Cruz, the Hong Kong People s Freedom and Choice Act of 2020 aims to provide temporary protected status (TPS) and refugee status for qualified Hong Kong residents. The bill mandates Hong Kong should be treated as a TPS-designated country for at least 18 months, along with countries like Sudan and Yemen, where nationals might face immediate threat after being evicted from the U.S. ....

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