The Ministry of Finance issued a Notification (№ 0424/MOF, dated 11 February 2020) (“MOF Notification”) on the implementation of the Tax Administration Law, Income Tax Law and Excise Tax.
Per the MOF Notification, the Tax Administration Law, Income Tax Law and Excise Tax is to be implemented from 1 January 2020.
For companies that have already paid salary income tax for the month of January 2020 using the tax rates under the old Tax Law (№ 70/NA, 15 December 2015), an adjustment should be made in the next tax returns.
The new tax rates apply to salary and income earned from 1 January 2020.
For the import of goods, the Excise Tax under the new Excise Tax Law must be implemented from 19 February 2020.
The information provided here is for information purposes only and is not intended to constitute legal advice. Legal advice should be obtained from qualified legal counsel for all specific situations.
Partner & Head of Regional Tax Practice