December 13 2018

Amendment to Corporate Income Tax Act gazetted

Source: IBFD Tax Research Platform News

On 13 December 2018, an amendment to the Corporate Income Tax Act was published in the State Gazette. It provides that from 1 January 2019 an exemption from corporate income tax will be available for alternative investment funds created for the implementation of financial instruments on the basis of financing agreements within the meaning of article 38(7) of Regulation (EC) No 1303/2013 of 17 December 2013. This provision deals with investments in certain newly created entities.