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Struggling Self-Employed to See Less Tax Burdens

Written: 2016-04-28 14:53:32Updated: 2016-04-28 14:57:20

Struggling Self-Employed to See Less Tax Burdens

Self-employed people who are struggling with their businesses are expected to face less of a burden in their composite income tax this year.
 
The National Tax Service(NTS) announced on Thursday that it raised by five to ten percent the simple expense rate of 121 types of self-employed businesses assessed to be in hard times.
 
Those who will benefit from the tax alleviation are manufacturers of agricultural, livestock and marine products as well as owners of bakeries, motels, pubs, barbershops and playrooms.
 
If the simple expense rate goes up, the amount regarded to be expenditure grows, lessening tax burdens. 

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