9.12.2008
News

Proposal for amendment of Tax Administration and Collection Act and new Tax Rules

An amendment to the Tax Administration and Collection Act is now at the Chamber of Deputies awaiting a third reading. The proposed amendment amends the rules for imposing sanctions for infringement of confidentiality obligations and introduces a suspensory effect should additional payment assessment be issued after completion of a tax inspection.

Further changes relate to determination of tax for bankrupt tax subjects, postponement of tax payments and permitting installments and the institute of lien. If this amendment is approved, it should become effective on the date of announcement thereof.

In connection with this proposal for amendment to the Tax Administration and Collection Act, we wish to inform you of the preparation of the new Tax Rules. The Government Legislation Council approved the new Tax Rules at the most recent meeting on 6 November 2008. After these rules have been approved by the government, it is expected that they will be submitted to the Chamber of Deputies for consideration. The Tax Rules are supposed to supersede the Tax Administration and Collection Act, which has been amended many times, as of 2010.

We will inform you of the current development of the two above-mentioned acts.

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