Ministry of Finance plans simplifying tax rules

The Ministry of Finance is working on simplifications in tax regulations.  The key objectives are less bureaucracy in taxes, lower taxes for business and investments as well as better safety for taxpayers, the Ministry said. In the area of "lower taxes for business and investments," it plans to reduce CIT rate to 9 percent for small companies, which constitute about 90 percent of all CIT taxpayers. The Ministry also wants to raise the threshold of the "small taxpayer" for PIT and CIT to €2 million in annual sales.