On July 15, the Head of State signed a law introducing changes to existing legislation.
The amendments affect the Land Code, the Entrepreneurial Code, the Civil Procedure Code, the Social Code, the Water Code, as well as 23 other laws.
Changes in the management of apartment buildings
The first block of amendments is aimed at improving the management system of multi-apartment residential buildings.
The “simple partnership” form has been abolished. Now, only two legal forms of management remain:
- Association of Property Owners (so-called OSI)
- Direct Joint Management (so-called NSU)
Amendments to Tax legislation
The second block relates to changes in tax regulation:
- Deductions are introduced for voluntary pension contributions and social payments under civil contracts (so-called GPH contracts);
- New articles 345-1 and 345-2 were added: tax deductions for mandatory social health insurance (so-called OSMS) and social contributions from GPH income;
- VAT offset method for imports is extended through 2025;
- A 9% personal income tax (PIT) rate is set for individuals engaged in private practice;
- Banks are now required to provide tax authorities with information on individuals’ bank accounts upon official request;
- Retrospective changes have been adopted for form FNO 270.00.
Other Changes
The law also clarifies regulations related to tax declarations and updates references to relevant provisions of the Tax Code, aiming to increase legal certainty.
The text of the law is published in the official press.
