The following income tax amendments took place by the new law voted from the House of Representatives on 15 November 2012.

Law of the Assessment and Collection of Taxes

From 1 January 2013 the following amendments will be in force:

1. Provisional tax instalments made by companies and self-employed individuals are reduced from three per year to two (31 July and 31 December).
2. The electronic submission of the Employer’s Return (I.R. 7 form) has been extended to 31 July each year instead of 30 April each year and becomes mandatory.
3. Accounting books and records should be kept for six years (instead of seven years) from the fiscal year to which they related to.