The Finance Ministry has declared that the Government submitted a bill on 10th August 2015 to amend the tax reform of 2014. The main features of the bill will be as follows:
- The combined income tax regime with income attribution would be accessible only to companies or enterprises, whose shareholders, members or owners are individuals subject to the individual income tax.
- The simplified income tax system includes an income attribution system that would also be open only to companies or enterprises whose shareholders, members or owners are individuals subject to the individual income tax and legal persons that have opted for the system of income attribution.
VAT
Leasing procedures that begin before 1st January 2016 will not be subject to value added tax (VAT). If the immovable property sale is free from VAT, then the ability to enter into a purchase and sale contract will also be exempt from VAT.
GAAR
The legislation will clarify that the general anti-avoidance rule (GAAR) will be applicable only to actions, businesses or transactions carried out or established after the effective date of the GAAR.
