Abolition of the annual company levy

In a significant development, the Council of Ministers during their Session on February 21, 2024, decided to abolish the annual company levy of 350 Euro, effective from this year.

The annual company levy had been imposed since 2011 as part of measures to address the financial crisis and fiscal consolidation.

The proposed abolition of the annual corporation tax represents a significant step towards fostering a more favourable business environment, relieving financial burdens on companies, and boosting business activity.

The decision of the Council of Ministers is anticipated to undergo voting in Parliament soon.

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