Circulars n.3 / 2004 - Financial Law 2004

Financial Law 2004

We inform you that Law no. 350 of December 24, 2003, published in the Official Gazette no. 299 of December 27, 2003, concerning "Provisions for the preparation of the annual and multi-year financial statements of the State", (Finance Law 2004) introduced significant changes regarding income taxes and other indirect taxes.

This circular is intended to provide a first overview of the main changes that have occurred. The standard is structured in four articles grouped into a single Title, divided as follows:

General regulatory framework

Title I: financial provisions • Art. 1- Differential results: consisting of paragraphs 1 to 4; • Art. 2 - Provisions on entry: comprising paragraphs 1 to 70; • Art.3 - Provisions regarding social security contributions and personnel for the functioning of public administrations and bodies: made up of paragraphs 1 to 172; • Art.4 - Investment financing: made up of paragraphs 1 to 252. Read more