MF examines minimum tax provisions
As part of the amendment to the minimum tax provisions in the CIT Act, significant changes have been introduced to, among other things, increase the profitability ratio to 2% and change the methodology for its calculation by excluding certain costs and revenues, according to the Ministry of Finance's 30 January 2024 response to media inquiries.
In addition, an alternative tax base was introduced, giving taxpayers a choice between two methods. Also, some modifications have been made to the catalogue of exclusions, taking into account new categories of taxpayers.
Currently, according to the MF, work is underway to analyse the existing minimum tax provisions, including for excise goods.