Tax Break

Tax breaks are not something the fiscal planners are willing to consider just yet.rn

rnBut when some of the biggest businesses groups in the country make the request its hard to ignore.rn

rnThe big business groups in the island want the government to move towards group taxation when taxing conglomerates.rn

rnGroup taxation allows trading losses of group companies to be surrendered to other companies in the group for them to relieve those losses against their own profits chargeable to tax.rn

rnldblquote Group taxation is something that, in principle allows a group of companies to be able to make use of losses in company and set them off against the profits being earned by other company and thereby reduce the tax impact on the whole group,
dblquote Anushya Coomaraswamy of John Keells Holdings explains.rn

rnBig business groups like John Keells are however realistic about what they expect from the budget knowing the revenue constraints.rn

rnThey want the finance minister to accept group taxation as a