MPs Approve Tax Changes

Parliament

Lawmakers voted on Tuesday to extend the preferential VAT rate on home construction and exempt advertising companies from a sectoral tax, according to a report by state news wire MTI.

MPs approved the legislation extending the temporary 5% home construction VAT rate by two years until the end of 2024 with a vote of 130 for, 32 against, and 21 abstentions.

The law extends an exemption from payment of the advertising tax until the end of 2023.

It also introduces progressive rates for the local business tax (HIPA) for small companies and exempts transfers of student loans from the State Treasury from the financial transactions duty.

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