If you employ workers you are required to open a Workers' File at your local Income Tax Office. The Income Tax Department will transfer the information to the NII which will open a separate Workers' File. Your accountant can also give you specific details of allowable deductions. As a general rule, you may deduct reasonable expenses incurred in the course of conducting business. If you work out of your home , a portion of household expenses, such as rent, utilities and telephone, are deductible.
Special regulations apply to deducting automobile expenses.
Depending on the type of business you wish to establish, it may be valuable to first research the prospective market, ascertain that there is a demand for the service or goods you wish to provide, and that the market is large enough to support you and your competition. Permits and Licenses Depending on the type of business you wish to establish, you may need permits or licenses from various sources. Further, all commercial enterprises must have business permits in order to operate. Permits are usually issued by the municipalities after prior approval by other government departments such as the Ministry of Health. Permits must be renewed annually.