profits tax

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Related to Profit tax: income tax
Translations

profits tax

n (Brit) → imposta sugli utili
Collins Italian Dictionary 1st Edition © HarperCollins Publishers 1995
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Newly established enterprises operating in the field of tourism are exempted from payment of profit tax for a period of 5 years.
(TAP) - The House of People's Representatives (HPR), on Saturday, passed Article 13 of the Budget Bill 2019, after its amendment by the Government with regard to the increase in the number of sectors to be subject, from 2022, to a profit tax rate of 13.5%, following the rejection of 11 amendment proposals for this article.
'At this moment the government has no plans to implement a windfall profit tax on the banks.
Also, Value Added Tax (VAT), Import Duty, Petroleum Profit Tax (PPT), all recorded an increase, while Companies Income Tax (CIT) and Oil Royalty decreased.
Leasing companies were exempt from VAT, sales tax and were granted 5% reduction for profit tax since 2017.
Thirty-seven companies from Skopje, assisted by employees of the Public Revenue Office (PRO), avoided paying profit tax of millions of euros in 2015 and 2016.
15,700 legal entities have been registered for the profit tax. 275 foreign investments in the technological and industrial development zones are exempt from paying profit tax
Like VAT, the business profit tax should start simple and be levied at a single (relatively) low rate for all businesses, argued the IMF paper, which discusses how to diversify government revenues in the GCC in the face of the sharp decline in oil revenues and the emergence of large fiscal deficits.
In 2015, personal income tax revenues grew 14.7% y/y (27.8% of total), VAT receipts +6.3% y/y (43.8% of total), profit tax receipts +23.7% y/y (12.8% of total), excise tax +7.5% y/y (10.9% of total), and property tax +18.1% y/y (3.6% of total).
Under the new tax regime, companies who have an annual turnover of GBP10m will have to tell HM Revenue & Customs (HMRC) if they think their business could make them liable for diverted profit tax. Once HMRC has assessed the structures and determined how much profit has been artificially diverted from the UK, the business will have just 30 days to object to the 25% tax.
Overall, Bulgaria ranks 89-th among the 189 countries with 5% of total profit tax rate, 20% labour tax total tax rate and 1.8% other taxes.