EFES NEWSLETTER - OKTOBER 2014
Manifesto 2014: Fiscal incentives are indispensable
Worldwide practical evidence and a wide range
of academic research support the view that a proper
legal environment and the provision of suitable fiscal
incentives are indispensable prerequisites for any
policy truly aiming the development of employee share
such evidence and research also show that fiscal incentives
always pay off medium/long term and in many ways.
Organisations promoting employee owner-ship around
the world have demanded persistently and consistently
supportive legislations including fiscal incentives
for the common good (evidenced in additional growth
and profitability, the spread of wealth, contribution
to economic and social stability).
New fiscal incentives pave the way to new encouraging
development, while political decisions reducing or
cutting such incentives always lead to regression.
European Commission and Parliament
All over the world, from the United States to China
and Africa, employee share ownership is highlighted
and promoted as a factor for boosting activity, greater
productivity and better results and social balance
for all. This is also true in the UK, where fiscal
incentives in this direction have been strongly improved
recently. The development of employee share ownership
can be a major factor of investment and recovery,
also for the European Union. For the EU, this is the
right political choice to do.
to President Jean-Claude Juncker
We have a selection of 30 remarkable articles in 9
countries in September 2014: Australia, Belgium, France,
India, Italy, Morocco, UK, USA.
Australia: The Australian Government is close
to finalising new employee share-ownership rules that
will replicate key aspects of a British regime that
seeks to encourage stock options in small companies
Belgium: The EFES urges the European Commission
to retain European employee share ownership policy
within the "Jobs, Growth, Investment and Competitiveness"
France: Recent Finance Bills have demolished
employee share ownership in France, with a 65% higher
tax burden. First visit of the new Minister of Economy
is for a large workers' cooperative. New employee
share plans for GDF Suez, for Capgemini, for Peugeot.
India: What is ESOP in India?
Italy: New management for the employee shareholders'
association of Telecom Italia.
Morocco: New employee share plan for Capgemini.
Russia: A Russian vision on Mondragon and ESOP
UK: New legal and tax environment encourages
employee share ownership. Tax exemptions introduced
in the UK Finance Act 2014 are encouraging employee
ownership trust ("EOT") buy-outs and this
successful UK business model could attract momentum
internationally. New research confirms the benefits
of employee share plans.
USA: Results from the 23rd Annual Economic
Performance Survey of ESOP (employee stock ownership
plan) companies. Two short visions about ESOPs: The
tax law provides a buyer for your business. A path
to increasing a company’s sales, profitability, employee
satisfaction and job security.
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