The Ministry of Finance (“MOF”) had worked on the draft Law on Personal Income Tax (“PIT”) to replace the current Law on PIT, which has been effective from 1 January 2009 and subsequently amended in 2013 and 2020. The draft Law on PIT had been uploaded to the Government’s and MOF’s portals for public review, comments and suggestions.
We outline below the notable proposed changes, inter alia, in the Law on PIT, including latest updates and recommendations to the MOF:
