Uncertainty about Payment of Interim Dividends Resolved | News - bellerage.com

Uncertainty about Payment of Interim Dividends Resolved

Previously, legislation did not determine what companies should do, if paid interim dividends turned out to be more than net profit at the end of the year.

In this regard, IFNS had the right to recognize unduly paid dividends as other income for their recipient, which led to tax consequences for both the organization and its owners.

On October 15th the Ministry of Finance published a letter that resolves this uncertainty. Now, if dividends paid during the year turned out to be more than net profit, they are not reclassified as other income.

The document has already been sent to all tax authorities.

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