Following the call of the Ministry of Finance and Economy, the FIAA’s Tax Committee have continued the series of meetings and discussions on the draft instructions issued for the new law on Income Tax and other relevant documents, to become effective from January 1st, 2024.
The Committee has provided feedback and suggestions to the Ministry and given specific comments for those issues which are considered important for the finalization of the Law. Importance has been given by addressing comments on the sections like, Corporate Income Tax; The Declaration Form for the Payment on Corporate Income Tax; The Declaration Form for the Payment on Tax on Source; Tax on Personal Income from employment; Inclusion in the provisions of the implementation of agreements for the avoidance of Double Taxation, as well as the need for more clarifications, details in the provisions and more practical examples.