Approves bill eliminating tax exemptions for state-owned entities.
23 Jul 2023
On 11 July 2023, the House of Representatives approved a two-article draft law which eliminates tax exemptions for state-owned entities and affiliated companies. The law's first article states that all tax exemptions granted to administrative units, local councils, and fully or partially state-owned corporate entities will be eliminated. The law will not, however, impact state companies involved in projects related to basic infrastructure or national security. It aims to put state-owned entities and private businesses on equal footing. Further, it aims to achieve one of the main objectives of the State Ownership Policy document – competitive neutrality and tax justice among public and private businesses. It abolishes customs and real estate tax exemptions, among other tax breaks.
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Promotion and facilitation (Investment incentives)
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