A draft bill was submitted to the parliament on 8th March 2017. When adopted, the draft bill presents an amendment to the provision of article 52 of the Income Tax Code about the tax treatment of a transfer of assets of the transferring company in exchange for shares in the receiving company. The amendment targets at clarifying the existing legal framework in line with the EU Merger Directive (2009/133). In this way, the capital gains realized on the transfer of the assets are taxed only once at the level of the receiving company and an amendment to the come into force of the provisions on short-term rentals which will be effective one month from the issuance of the relevant common ministerial decision.
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