U.K. to Offer Tax Relief for E-commerce

LONDON (03/21/2000) - In his budget speech to the House of Commons today, U.K.

Chancellor of the Exchequer Gordon Brown offered special tax incentives designed to encourage small businesses to embrace e-commerce and move onto the Internet.

"I want to make Britain the best environment for e-commerce and catch up with America as swiftly as possible," Brown said in his Budget 2000 speech.

"For the next three years, any small business buying computers, or investing in e-commerce and new information technology, will be able to immediately write-off against tax the full 100 percent of the cost in the year of purchase," Brown said.

Furthermore, the Chancellor promised to relax the rules for obtaining work permits for workers with advanced skills in information technology.

The Chancellor also announced tax breaks for those filing tax returns over the Internet.

The Office of the Treasury, in London, can be found online at http://www.hm-treasury.gov.uk/.

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