New Tax Relief Measures Introduced in Early 2025

Accounting News

At the start of 2025, the government introduced a new package of tax relief measures focused primarily on boosting the competitiveness of small and medium-sized businesses. These include:

  • Increased deductible limits for business-related expenses, including travel, office supplies, and software.
  • New startup incentives, allowing newly registered companies to benefit from a 50% corporate tax discount for their first year of operation.
  • Extended grace periods for VAT registration, easing the burden on new and low-revenue companies.
  • Expanded eligibility for R&D tax deductions, now covering digital process automation and cybersecurity solutions.

These measures are expected to alleviate the financial pressure many businesses face and encourage growth and innovation. Companies are advised to consult with their accountants to adjust financial planning accordingly.

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