Tax alert No. 16/31 December 2008

Emergency Ordinance 226/30 December 2008 repeals the Emergency Ordinance 192/2008 regarding certain fiscal measures for economic growth and jobs increase.

Ordinance 192/2008 initially has introduced amongst other provisions, some incentives for encouragement of early payment of the tax liabilities by the taxpayers, by means of a 5% reduction applied to the value of liabilities due by taxpayers paying all their tax liabilities with at least 10 days prior to the payment deadline.

(Emergency Ordinance no.226/30 December 2008 published in Official Gazette 899/31 December 2008)