The Commission of Economy reduced the tax on profit for businesses under 14 million ALL of annual turnover, from 15% to 5%. The law enters in effect on January 1st, 2019.
The tax on profit is paid in three separated levels. Businesses making up to 5 million ALL have this tax removed. Businesses from 5-8 million ALL a year pay 5%, and above 8 million ALL they pay 15%.
This means that a company making 14 million ALL a year, will no longer pay 315,000 ALL, but 105,000.
The tax goes for agricultural cooperation companies as well. For agro-tourism it will stay 5% for 10 years.
For gambling shops it will be 15%.
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