The tax reform on individual, corporate, non-resident and wealth taxes was approved by parliament through Law 35/2006, of 28 November 2006, published in the Official Gazette of 29 November 2006. The reform will generally enter into force from 1 January 2007. The most significant amendments are summarized below. All amounts are in euro.
Corporate income tax
(a) Tax rate. The rate is reduced from the current 35% to 32.5% for taxable periods commencing o…