Corporate Income Tax Law amended

On 25 July 2008, the Law amending the Corporate Income Tax Law was published in Official Gazette no. 76/2008. The Law came into force on 26 July 2008. The amendment is retroactively effective from 1 January 2008.
The Law introduces an investment allowance, under which a company can deduct 20% of actual costs of investing in equipment or intangible assets. The relief is capped at EUR 20,000, but shall not exceed EUR 10,000 in the year of investment, and EUR 10,000 in the following year. Th…