11.02.08

Employers offering one-time seniority bonuses to employees received additional motivation to do so from the Ministry of Finance. According to Letter # 03-03-06/2/5 issued by the Ministry on January 23, 2008, one-time seniority bonus payments may be deducted from the tax base on the condition that the method payments, their amount and payment provisions are provided for by company regulations and labor and/or collective contracts.

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