The key characteristics of : corporate taxation, taxpayers, tax basis and taxable periods.

TAX RATE  –  20% on the established tax basis.

TAXPAYER

  1. The taxpayer is a company or another legal entity and a physical person that carries out an activity in order to make profit, earn income or revenue, or other estimable economic benefits.

TAX BASIS

The tax basis is an income that is determined, in accordance with accounting regulations, as a difference between income and expenses before the calculation of corporate tax, increased and reduced, in accordance with legal provisions.

TAXABLE PERIOD

Corporate tax is determined for a taxable period which, as a rule, is a calendar year. The Tax Administration can approve, at the request of the taxpayer, differentiation between the taxable period and the calendar year, on which occasion the taxable period shall not exceed a 12-month period.

Detailed information on corporate tax is available on the  website of the Tax Administration.