TAILIEUCHUNG - Academic Press Private Equity and Venture Capital in Europe_4

Tham khảo tài liệu 'academic press private equity and venture capital in europe_4', khoa học xã hội, kinh tế chính trị phục vụ nhu cầu học tập, nghiên cứu và làm việc hiệu quả | Fiscal framework for equity investors and vehicles The EU condition 99 public funds to develop the economic system by supporting SMEs. Today rigid regulatory limitations minimize the role of SBICs. Business Angels are private entrepreneurs who provide capital for a business start up. The tax profile of venture capital funds organized as 10-year LPs can deduct capital gains whereas other revenues and costs are tax sensitive. According to the law all SBIC revenues are de-taxed. The tax profile of Business Angels is more complicated and can be summarized by the following Capital gains are de-taxed in case of reinvestment of money in 60 days in qualified small business stocks QSBS or SBIC shares Capital gains are de-taxed for 50 if the holding period of QSBS is higher than 5 years Taxes are paid differently if investors are considered a private rather than a legal entity. For private investors capital gains and earnings are taxed at 5 or 15 depending on global revenues and state whereas the capital gains of legal entities are always taxed in the United States the participation exemption principle is not applied and earnings are taxed from 0 to 30 depending on the held quota. Unlike Italy in the United States there are low incentives for companies especially for start-up and R D expenditures. Start ups are provided with a mark down of the company tax rate between 15 and 35 related to the amount of revenues. For R D costs and investments exiting rules order a tax credit equal to 20 of the difference between yearly R D costs and the average R D costs of the last 3 years. No DIT or thin cap schemes are operating in the United States. Vehicle taxation the UK The principles for taxation in the UK are similar to those in the United States but the actual tax systems are different for example the British scheme for private equity and venture capital deals is more complicated. In the UK private equity and venture capital deals are run by Venture capital funds Venture .

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