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Changes in taxation in 2008.
[04.01.2008]

The Law “About budget on 2008” came into force on 01/01/2008 and caused the changes to some laws regulating tax questions. It is a strong tendency for reduction of tax press on organizations. In 2008 the turnover tax has been reduced to 1.5 percent, personal income tax gained from additional sources has been decreased from 20 till 15%; the order of calculation and payment of ecological tax has become easier. Entrepreneurs should pay VAT only if their gains for three consistent months exceed 40 000 euro. Expected increase of VAT rate hasn’t been realized.