Professional Documents
Culture Documents
Smallenterprise
Medium-sizedenterprise
General partnership
Limited partnership
Corporation Others
NO
6. Has taxation been in previous years an important factor in your decision to retain
earnings?
YES
NO
Year
Distributionof
Distributionof
Distributionof
Retentionof100%
100%ofannual
morethan50%
lessthan50%
ofannualearnings
earnings
ofannual
ofannual
earnings
earnings
2008
2009
2010
2011
2012
9.Do you consider the current taxation structure to bean obstacle to there tension or
distribution of earnings?
Yes, obstacle to there tention
Yes, obstacle to the
distribution No, it is neutral
Retain earnings
Distribute earnings
No,it is neutral
2.Do you believe that there is a tax advantage to earnings being directly distributed
to you through dividend rather than being retained and then realize dascapital
gain when you sell your share sory our business?
Tax advantage to distribution
Tax advantage to retain in order to generate capital gain at later stage
No,tax is neutral
3.Do yo use your salary or your annual bonus as a way of distributing earnings?
YES
NO
4.Doyouconsiderataxplanningissuethecombineddeterminationofyoursalary,
yourannualbonus,thelevelofretainedandthatofdistributedearnings?
YES
NO
5.WouldyouconsiderborrowingfromyourUndertakingforyourprivateshort-term
financeneedsratherthandistributingearnings?
YES
NO
6.Doyoubelievethattaxincentivesexisttopromotetheretentionofearnings?(
YES
NO
7.Doyoubelievethattaxdisincentivesexisttodetertheretentionofearnings?
YES
NO
8.Doesthecurrenttaxtreatmentofretainedearningsanddistributionof
profitsdirectlyinfluencesyourdecisionontheretentionordistribution/
withdrawalofprofits?
Yes,
Importantinfavourofretention
Importantinfavourofdistribution/withdrawal
No