Companies have so far been spared from the raise in taxes, but the Parliament will soon deal them a blow that is just as dangerous.
The members of Parliament on Wednesday passed a bill by which the state will request cash compensations from the companies that it privatized for the plots of land which belong to them in which the state has joint tenancy.
Investors who have acquired state-owned companies, but who failed to incorporate the value of their respective plots of land into the share capital of their companies, in which the state still has stakes, will find themselves suddenly owing money to the state.
* The state doesn"t want shares
Essentially, the state is asking for money for its share of the lands owned by these companies, and rejects upfront the alternative of being compensated in stock for two reasons: the need for cash, as well as the need to become a majority shareholder again, in the event of a share capital increase (ed. note: if the value of the land contributed were to exceed that of the share capital).
The parliament claims that the new law will simplify the procedure for the sale of the plot of land, because share capital increases take too long to complete and are too costly. Also, the MP"s say that the implementation of the new law would allow the state to quickly bring additional funds to the budget: "By applying the simplified procedure for the direct sale of the plots of land owned in joined tenancy for which the deed of ownership has been issued or is still in the process of being issued, without first requiring a preliminary increase of the share capital (...), will help the state raise significant amounts within a short period of time" from "all the third parties involved".
* Payment in full or in installments
As a result, the plots of land in question will be appraised again, and within 30 days