On 12 September 2013, the Ministry of Finance published a draft of an Emergency Ordinance, introducing, with effect from 1 January 2014, lump-sum taxation for certain companies deriving income from activities specified by the law.

The lump-sum tax, which would replace the current 16% corporate income tax or 3% turnover tax, would be imposed on resident companies that, on 31 December of the…

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