TAXATION

Gov’t plans omnibus tax draft law

gov-t-plans-omnibus-tax-draft-law

The taxation and financing incentives for merging enterprises, the new calculation factors for the Single Property Tax (ENFIA) and the supplementary property tax, the amortization of green and digital investments and the new framework for boosting online transactions will form the backbone of a new tax bill that is slated to be tabled in Parliament this fall, along with the 2022 budget.

The measures on mergers, online payments and amortization are the first three that have to be implemented in the year’s third quarter to allow the disbursement of the first tranche of 3.5 billion euros from the Next Generation EU fund.

The government is considering bringing all those measures in one draft law in Parliament, instead of in separate amendments, along with further tax rate reductions, such as the drop in corporate tax rates and the income tax deposit, and the suspension of the solidarity levy at least for the private sector.

The final criterion for the content of the new tax bill will be the size of the fiscal space to become available for the next year. That will depend largely on the course of property taxation.