Single 5% tax can benefit 180,000 SMEs

The creation of the new tax regime SIETE-RG, which seeks to encourage entrepreneurs with the payment of a single bi-monthly tax equivalent to 5 per cent of gross sales, can benefit approximately 180 thousand micro and small businesses nationwide. However, this amount represents only 30 per cent of this sector. Decree 4298 promotes the creation of new companies through this tax system to support entrepreneurship and also establishes other tax incentives aimed at economic reactivation.

Source: Los Tiempos