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Kindly find attached Minister of Finance Decision No. 211/1 dated 31 March 2017 which provides reductions on tax penalties. This decision cancels all previous decisions.

This decision covers violations occurring until its publication date in the official gazette (inclusive), which is expected in the coming few days.

As per Article 5 of this Decision, proportional realization penalties are reduced by 85% while lump-sum realization penalties are reduced by 60%.

As per Article 7 of this Decision, late payment penalties are reduced by 75%.

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