Tax

International Financial Reporting Standard and Fair value

Fair value of real estates declared in business books as property tax base for micro legal entities

According to the provisions of Article 7, paragraph 1. of the Law on Property Taxes, the basis of property tax for the immovable property of a taxpayer who keeps business books and whose value is reported in the business books according to the fair value method following international accounting standards (IAS), i.e. international financial reporting…
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Payment of taxes, Payment of contributions and Basic characteristics

Contract for the supply of services

According to the provisions of Article 199 of Labour Law an employer may conclude with a particular person a contract for the supply of services for the performance of jobs outside employer’s line of business, and with the aim of independent manufacture or repair of a particular item, or independent carrying out of particular physical…
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Corporate Profit Tax Law

Tax incentives – Tax on profit

Taxpayers shall be granted tax incentives for the purpose of achieving economic policy aims relating to the fostering of economic growth. The provisions of the Corporate Profit Tax Law alone shall determine the tax incentives relating to corporate profit tax. Tax incentives in relation to the tax on profits of legal entities are only made by…
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Status and position of the entrepreneur

Entrepreneur or company

Status and position of the entrepreneur and the company is governed by the provisions of the Law on Companies. The entrepreneur, according to the provisions of Article 83 of the Law on Companies, is defined as a natural person with full capacity who is registered in the Business Entities Register and is engaged in a…
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