New Decree provides for deferred payment of the corporate profit tax in six monthly installments

The Government at its session held on 15th April 2010, has passed the Decree on deferred payment of corporate profit tax, providing the possibility to the tax payers to pay out matured debt based on the corporate profit tax in six equal monthly installments. In this manner is established the efficient model for the collection of tax receivables , at the same time creating more favorable conditions for the operation of taxpayers and improvement of their liquidity affected by the economic and financial crisis. Since the debt based on corporate profit tax matured on 31st March, and the payment was approved to be made in six equal monthly installments, thus the first installment is due on 30th April 2010, and the last one on 30th September 2010. the taxpayers who fail to settle mature installment in prescribed deadline, the remaining tax debt is maturing. The Decree enters into force on the day of its publishing in the Official Gazette and its publication is pending.