A 5% drop in corporate income tax is foreseen in the 2020 state budget’s preliminary plan sent to the European Commission, government sources said on Wednesday evening, at a cost of 138 million euros to the 2019 budget, ANA reports.
According to sources, the substantial relief measure is expected to boost businesses’ liquidity by year’s end. They added that the Independent Authority for Public Revenue (AADE) will update tax records by the end of November so that the deduction shows in the last tax installment payable at the end of December.
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