Tax News - Corporate Income Tax

1. Losses carried forward

The amendment modifies the deductible amount of the losses carried forward, which were generated before the end of the 2014 tax year and were not yet deducted from the tax base. Previously losses carried forward could be used up to 50% of the tax base. According to the new regulation those modifying items which are reported in the tax return due to the interest limitation shall not be taken into account during the calculation of the 50% of the tax base.

2. Termination of group membership in corporate taxation

The rules of reporting the corporate tax advance is being changed with respect to the termination of the group member’s membership for reasons other than termination without succession, and for the termination of the group. Based on the amended rules the tax advance has to be reported not within 30 days following the termination of the membership or the group, but within 30 days following the occuring of the circumstances causing the termination of the membership or the group.