The House of Representatives voted a new law (L. 4(I)/2017) regarding the procedure for the settlement of overdue tax liabilities.
This law was published in the Official Gazette of the Republic (“Gazette”) on 03/02/2017 and will enter into force as of the date that the Commissioner of Taxation publishes the relevant notification in the Gazette.
This new piece of legislation aims to encourage and facilitate the process relating to the settlement of overdue tax liabilities.
Read the full Alert here: tax-newsletter-overdue-taxes-6-2-17