AMENDMENTS ENVISAGE CORPORATE TAX TO DECREASE 5%

Business | December 11, 2001, Tuesday // 00:00

Under the amendments to the Corporate Income Taxation Act adopted by Parliament on December 11 corporate tax will fall from 20 to 15%. The amendments also provide for tax reliefs for new jobs creation in regions with unemployment rate 50% higher than the average level in the country. The extraordinary meeting of the Parliament began after a 20-minute debate. MPs of the United Democratic Forces (UDF) claimed that the meeting is illegitimate. Following the MPs vote for holding the extraordinary meeting, some of UDF MPs left the hall while those who stayed said they will not vote.

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