Parliament introduces tax expenditures in kind

Parliament introduces tax expenditures in kind

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Parliament introduces tax expenditures in kind

The amendments in legislation on corporate income tax add a new subject to tax costs. Documentary substantiated expenses in kind associated with private leased and / or provided for use assets available for personal use and / or relating to the use of staff of workers, employees and persons employed under contracts for management and control (employees) as well as persons exercising personal work will be taxed on costs. The tax base for determination of the tax is the amount of expenditure in kind associated with private leased and / or provided for use assets available for personal use and / or relating to the use of staff for the calendar year. In determining the basis of expenditure in kind related to vehicles costs related to personal use, the total amount of all expenses associated with vehicle multiplying: 1. ratio: a) between traveled for personal use miles and the total mileage of the vehicle, or b) between the hours of personal use of the vehicle and the total hours of use of the vehicle, or 2. 50 percent. Law amending the Law on Corporate Income Tax shall enter into force primarily from January 1, 2016

Parliament introduces tax expenditures in kind
Parliament introduces tax expenditures in kind
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