On 15 December 2015, the National Assembly adopted the Finance Law 2017. The law contains a number of important amendments including, in particular, the following: Definition of Permanent Establishment The law introduces a definition of permanent establishment under domestic law. The definition closely follows Art.5 of the UN Model. Limitation of Deductibility of Headquarter Charges Headquarter charges may be deducted up to a maximum of 10% of the taxable income of the payer before the deduction of the charges. In case taxable income for the year is negative, the 10% limit is calculated by reference to the most recent profitable...