By virtue of a bill introduced in Parliament for endorsement many of the existing tax exemptions were abolished. In particular this abolition includes the following categories of tax exemptions :
- those related to insurance premiums concerning life, accidents and illness.
- discounts related to rents for first residence, expenses for private lessons, lawyers' fees, donations.
- expenses related to advertising costs incurred by companies.
- those related to interest from deposits in foreign exchange, gains deriving from the sale of securities, interest from deposits concerning housing loans, interest from bank deposits kept in other banks.
- 50% of the MPs salary.
Finally the same above bill provides that investment grants shall be subject to stringent controls.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
