On 17 May 2018, the Parliament passed amendments to the tax law, which increase the penalties for tax evasion. Under the amendments, if the tax authorities identify income that the taxpayer cannot justify at the time of inspection, the taxpayer will be charged not only the outstanding tax amount but also a penalty of 50%-100% of the outstanding tax amount (currently, the penalty is 10%-50%); and the tax authorities will impose double the amount of the penalty on taxpayers committing repeated tax avoidance during a 5-year period. The changes will enter into force from 1 January 2019.
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