Limited partnerships still not covered by CIT


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During preparation of draft of law amending The Corporate Income Tax Act limited partnerships have been excluded with the planned covering  by the duty of paying CIT since 2014. However, limited joint-stock partnerships are liable to pay income tax from 1 January 2014. According to current regulations, limited partnerships do not pay corporate income tax (CIT), and therefore only after the receipt of dividends shareholders are required to pay personal income tax (PIT).

Unfortunately, the covering limited joint-stock partnerships by CIT cause loss of their attractiveness for investors who – as general partners of these companies – will bear the subsidiary, but unlimited liability for the obligations of the company and in addition they will be subject of double taxation of profits.





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