Amendments to bill containing proposed direct and indirect tax changes

The amendments include:

• Possibility to keep accounts in foreign currency
• Taxation of realized exchange rate transactions only
• Taxation of non-monetary employee benefits
• Abolition of exemption for managers’ accommodations
• Simplified records for agreements to perform work
• Unified 12% value added tax (VAT) rate for newspapers and periodicals
• Slower pace on increase to excise duty on electronic cigarettes, but faster pace on increase to excise duty on alcohol

Effective as of January 1, 2023

Source KPMG

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