From 2024, the Income Tax Act brings the option for taxpayers to exclude unrealised exchange rate differences from the tax base in the period in which they arise and to include them in the tax base in the period when the exchange rate difference is realised. This topic was covered in more detail in our November newsletter.
In this context, we would like to remind you that the notification of entry into such a regime must be submitted to the tax authority within 3 months of the first day of the tax period in which the taxpayer wants to apply this regime for the first time. Therefore, for the initial exclusion of unrealised differences from the tax base in the tax period 1 January 2024 – 31 December 2024, the deadline for notification of entry into this regime is 2 April 2024.
If you are interested in this option, please contact your TPA advisor, who will be happy to discuss the aspects of this regime with you in more detail and, arrange the notification to the tax authorities where appropriate.