Startup deduction permits full profit exemption for eligible businesses subject to incorporation, turnover and audit conditions.

A special tax deduction allows an eligible start up to claim a full deduction of profits and gains from an eligible business for three consecutive tax years, selectable within ten years of incorporation. Eligibility requires specified incorporation, turnover and certification conditions. Profits are to be computed as if the eligible business were the only source of income; inter company transfers must be recorded at market value or arm's length price; audited accounts and prescribed audit report submission are mandatory; and anti avoidance and administrative exceptions apply.

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