A GROUP of opposition MPs filed a motion with the Constitutional Court, complaining about the law on income tax as being retroactive. They also claim some provisions in the law violate the right to doing business and have consequences that might seriously interfere with this right. The MPs requested the Constitutional Court to deem the law unconstitutional.
Under the previous rules, businesses that recorded a loss were able to deduct it from their tax base in seven consecutive tax terms. The amendment changes this, allowing businesses to deduct losses for 2012 and 2013 only in four tax terms, 25 percent in each term. The opposition MPs claim that the legislators unconstitutionally interfered with the previously granted rights by introducing such a change. This harms the businesses that started liquidating their loss under the previously used pattern.
Source: SITA
Compiled by Michaela Terenzani from press reports
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