A reduction, by 5 percent, in the pre-payment of corporate taxes – for current fiscal year – is foreseen in the draft 2020 budget, which has been delivered to and posted by the EU Commission.
According to reports, the independent public revenues authority will re-calculate corporate and business tax returns to include the foreseen 5-percent reduction.
The measure is budgeted at 138 million euros, and will have a “one-off” implementation.
Meanwhile, the draft budget includes a target of a 1.4-percent general government budget surplus (as a percentage of GDP) for 2019; one percent for 2020.
