Corporate Tax Alert (27/10/2011)
Bill containing tax measures adopted
During the month of October 2011, the House of Representatives and the Senate have adopted during a draft bill of law containing tax and miscellaneous measures.
In addition to the ratification of some existing royal decrees (among others in respect of payroll tax), the bill only adds very few new tax provisions:
- a modification of Article 47 of the Income Tax Code (“ITC”) to make it EU law-compliant;
- the abolishment of the registration requirement for entrepreneurs; and
- an amendment of the recent changes in the area of bank secrecy.
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