New act on multinational companies in progress

The Finance Ministry is preparing an amendment to an act regarding international cooperation in tax administration, in order to strengthen the fight against tax evasion. This time it's concentrating on the automatic exchange of tax information regarding multinational companies. Such companies will be obliged to send information regarding the amount of earned incomes, earnings before tax or the number of employees to the financial directorate of the country in which the company's branch office is located.