Draft Tax Code adopted at first reading – corporate income tax

On 7 October 2010, the Parliament adopted in the first reading the new version of the draft Tax Code submitted by the Government. The draft Tax Code replaces the draft which was approved earlier in 2010 but recalled in September 2010 after public consultation. The draft Tax Code is now prepared for the second reading. It is expected to be passed in 2010; if so, the new tax rules are expected to apply with effect from 1 January 2011 unless otherwise indicated.
Amendments with regard to cor…