As reported previously, on 26 March 2008, the parliament adopted the income tax reform proposals. On 25 September 2008, the Government submitted to the parliament draft proposals which would postpone the income tax reform and introduce other changes to the Income Tax Law (ITL) and VAT Law. If adopted by the parliament, the amendments would come into force on 1 January 2009. Income tax (a) Distribution tax system. The Government proposes to postpone until 1 January 2010 the tax reform introducing the advance income tax payment system. In addition, where the earlier adopted amendments would fully abolish the participation threshold...