The finance ministry has published a progress report on its efforts to date to simplify tax procedures with online assessment and collection.

The amendment of December 22, 2003 to the EU Parent/Subsidiary Directive was officially published in the Official Journal on January 13, 2004. It enters into force 20 days later, that is on February 2, 2004. Member states have until December 31, 2004 to change their statutes, regulations and other provisions to comply.

The Supreme Tax Court has held that a parent may write a subordinated loan to a subsidiary down to its fair market value calculated on the same lines as for an equity investment