The Council of Ministers presented to the parliament a draft Budget Law for 2017 on 30 September 2016. All along with the introduction of tax changes, different numbers of factors that have into force on budget revenues are envisaged.
Corporate income tax:
- It introduced a lower rate of corporate income tax of 15% will be applied to small taxpayers and the General Anti Avoidance Rule (GAAR) will be effective from 15 July 2016. GAAR will put off the obtaining of tax advantages concerning artificial transactions or structures intended to mainly or solely at avoiding taxation.
- The offerings of the Bank Guarantee Fund by financial institutions will not be deductible for tax purposes from 1 January 2017.
- New tax incentives (R&D) will be introduced and will be applied from 1 January 2017.
Other:
Tax incentives for the shipbuilding industry and anti-fraud procedures concerning the Gaming Law will be also introduced.
