This issue of KPMG's Tax News presents the latest amendments to the tax legislation in a number of areas.
New Law on Excise Duty
The new Law on Excise Duty (LED) which will apply as of 15 July 2019 was promulgated in the Official Gazette No. 108 dated 28 May 2019.
Some of the more important developments are:
Other changes include:
Amendments to the Law on VAT and the Rulebook for implementation of the VAT Law
An application for VAT registration can now be submitted together with the application for the registration of a company at the Central Registry.
The amendments to the Rulebook regulate the use of the technique for electronic data processing within the export customs procedure as proof that the export was executed.
Amendments to the Law on Registering Cash Payments
The amendments to the Law on RCP include strengthening of the provisions for entry of the correct description on receipts, requirement in relation to receipts for cancelled transactions, as well as new penalties in that regard.
Amendments to the Law on Sports
The amendments to the Law on Sports are aligned to the amendments to the Corporate Income Tax Law regarding the tax incentive for donations in sports. They were promulgated in the Official Gazette No. 98 dated 21 May 2019 and entered into force on the same day.
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