There have been some changes to the Inventory Law. Ordinance no. 126/2019 of 2 May introduced a new requirement regarding the well-known reporting of closing stock for the financial year, which must be submitted by 31 January each year. Find out all the details below. All about the new Inventory Law What is the difference compared with the previous Law? The main difference introduced by the new ordinance is that, from now on, the inventory report must include not only the quantities but also the value of that stock. Why is it important? Although it may seem like a small difference, it is of great importance. Sometimes, due to weaknesses in internal control or a lack of resources, for example, the inventory values included in year-end accounts were not always properly scrutinised, often leading to changes in the corporate income tax (IRC) ...
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