SAN MARINO We the Captains Regent of the Most Serene Republic of San Marino Having regard to Article 4 of the Constitutional Law no.185 / 2005 and Article 6 of Qualified Law n.186 / 2005; We promulgate and publish the following ordinary law approved by the Great and General Council at its meeting on November 28, 2011: November 28, 2011 184 LAW TO AMEND THE LAW 22 December 2010 194, CHANGES IN THE BUDGET OF THE STATE AND CHANGES TO THE FINANCIAL STATEMENTS ESTIMATE oF PUBLIC FOR tHE FINANCIAL YEAR 2011 Art.1 Article 14 of Law 22 December 2010 n. 194 is amended as follows: "Art.14 (reserve funds Breakdown) The Congress of State is empowered to distribute, through a resolution, in the relevant chapters, and between the same funds the appropriations referred to 03.01.2470 chapters" reserve fund for unforeseen expenses ", 01.03.2480" reserve Fund compulsory expenditure "and 03.01.2490" intervention Fund ", and to report in subsequent years, subject to their commitment and target any available unused. ". Art.2 Article 26 of Law 22 December 2010 n. 194 is amended as follows: "Art.26 (Interest-rate subsidy for extraordinary credit facilities in support of economic activities) Pursuant to Article 9 of the law 3 August 2009 n. 109 on Cap. 2-5-7227 "Interest subsidies and account for royalties Facilitated Credit outstanding in support of economic activities (Law n.109 / 2009)" is earmarked for 2011 in the amount of € 1,000. 000.00. ". 2 Art. 3 Article 39 of Law 22 December 2010 n. 194 is amended as follows: "Art.39 (Mortgage tie) E 'allowed the lighting of a mortgage balance of the Budget deficit for 2011 up to the amount of € 51,205,081.70.". Art. 4 Article 64 of Law 22 December 2010 n. 194 is amended as follows: "art.64 (Allocation of funds for the development of agreements with economic operators in the tourism sector and the establishment of an Institute for Art) in the budget framework provided on 1-7-4040 chapter" Promotion and tourism planning ", will find indictment also charges relating to: - the incentive activities of the development of specific trade agreements with economic operators in the tourism sector, such as commercial fee, advertising and promotional expenses, agency services, consultancy activities, flat-rate remuneration and presence of hospitality offered, participation in fairs and exhibitions and any and all other service can manifest useful to achieve the purpose, promoting the presence of the destination San Marino in key international markets with particular reference to those outside Europe; - The establishment of a San Marino Institute of Art, which takes the form of private law body in public majority interest, in order to develop community art events directly aimed at increasing the tourist offer. ". Art. 5 The first, second and third paragraphs of Article 81 of Law 22 December 2010 n. 194 are replaced by: "On 2-4-6435 chapter called" Fund for interventions aimed at energy saving, water, the production of energy from renewable sources and control of sources of pollution "is planned for the financial year 2011 an allocation of € 440,000.00 aimed at financial: a) the incentives provided in Article 2, paragraph 1, of the Chief Executive Decree 21 September 2009 n. 128; b) the additional costs referred to in Article 7, second, third and fourth of the Chief Executive Decree 25 June 2009 n. 89 and subsequent amendments supported by the Autonomous State for Public Services; c) additional costs and charges related to interventions aimed at energy and water savings and the production of energy from renewable sources of Law 72 of 7 May 2008 and its implementing decrees. A share of 1% of the proceeds from the Company Autonomous State for Public Services (AASS) the supply of electricity and gas consumed by users is allocated to the payment of tariffs referred to Chief Executive Decree 25 June 2009 n. 92. To this end, the AASS aside of specific expenditure item of its balance sheet the aforementioned amount, even if not used in the financial year 2011, will have to be engaged and brought to residue in subsequent financial years to finance the incentives referred to in the Decree Chief n.92 / 2009, in order to achieve the nominal cumulative PV capacity objectives to be installed fixed in Article 10 of the same statutory instrument, as amended. For the purposes of the preceding paragraph, the AASS can adapt the incoming appropriations and
output provided in the relevant chapters of its financial statements in compliance with the budget balance in accordance with the conditions of Article 27 of the Law of 18 February 1998 n.30. ". 3 Article 6. The deficit of the pension management Craftsmen and Merchants, as well as from the accounting records of the General Statement of the Institute for Social Security for 2011, will be rescheduled through an extraordinary withdrawal from the risk reserve Common Fund established by Law February 11, 1983 n. 15. The Government is committed to locate in agreement with the trade unions the means by which to implement the refinancing of the town of risk reserve fund referred to in the previous paragraph, up to the amount of withdrawals operated under this Article and of any further future withdrawals to cover the deficit of the management of pension funds. Refinancing of the preceding paragraph shall be made from the financial 2015 and a maximum of five years except in any case the refinancing within the 2017 financial year by at least 50% of the total amount of levy collected for the senses of the preceding paragraph. By reason of the foregoing, the State Budget contributes to funding assistance to the Fund of the City of Risk Reserve provided in paragraph 2 of Article 90 of Law 15 of 11 February 1983 and Article 45 of Law 18 December 2003 n .165 in the insufficiency of financial resources to that Fund. Article 7 In accordance with Article 3 of the Delegated Decree 22 July 2011 n. 111 is set to Chapter 1-3- 2407 "Contribution to the Guarantee Fund for Depositors - Delegate Decree n. 111/2011 "with a budget for the current financial year of € 5,000,000.00. Article 8. In accordance with Article 25 of Law 30 of February 18, 1998, in compliance with resolution of the Congress of State no. 12 of 11 October 2011, it approved the framework of the change to the Budget of the State for the financial year 2011 - Annex "A" - referred to in Article 1 of Law 22 December 2010 n. 194, which is amended as follows: provisional state of the Entry Title 1-Tax revenues € 432,218,100.00 Title 2-Revenue extratributarie € 73,093,258.82 Title 3-Alienation, depreciation of assets € 5,011,000.00 Title 4-revenue from power by mortgages € 51,205,081.70 Title 5-Matches around € 31,874,331.03 Total € 593,401,771.55 General revenue forecast State of Output Title 1-Ongoing charges € 509,472,254 , 2-47 Title capital expenditures € 43,855,363.76 Title 3-Repayment of loans € 8,199,822.29 Title 4-games-turn € 31,874,331.03 Total General expenses € 593,401,771.55 Art. 9 According to Law 26 November 1980 n. 88 and the Decree 31 January 1984 n. 12, in compliance with resolution of the Board of Directors dell'AASFN # 2 of 27 September 2011 has authorized the change to the Budget for the financial year 2011 same company 4 - Annex "B" - referred to in Article .2 of Law 22 December 2010 n. 194, which is amended as follows: provisional state of the Entry Title 1-Current revenue € 5,206,000.00 Title 2-extraordinary Revenue € // Title 3-Capital movements € // Title 4-Special Contabilita € 17,455,000, 00 Title 5-Matches around € 986,200.00 Total € 23,647,200.00 forward-State General revenue Title 1-Output-current expenditure € 4,006,000.00 Title 2-Outputs capital € 50,000.00 Title 3- capital movements € 1,150,000.00 Title 4-special Contabilita € 17,455,000.00 Title 5-Matches around € 986,200.00 Total € 23,647,200.00 General Releases Art.10 According to Law 26 November 1980 n . 88 and the Decree of 29 December 1983 n. 109, complies with the resolution of the Board of Directors dell'AASP # 1 of 7 September 2011, it authorized the change to the Budget for the financial year 2011 same company - Annex "C" - in art. 3 of Law 22 December 2010 n. 194, which is amended as follows: provisional state of the Entry-Title 1 Title 2 € 27,838,000.00 Current revenues and balance sheet Revenue € 24,100.00 Title 4-Special Contabilita € 1,000,000.00 Title 6-Matches around € General revenue 13,148,000.00 Total € 42,010,100.00 forecast State of Output Title 1-Ongoing charges € 10,730,000.00 Title 2-extraordinary expenses € 16,840,000.00 Title 3-capital expenditures € 292,100 00 Title 5-special Contabilita € 1,000,000.00 Title 6-games around € 13,148,000.00 to € 42,010,100.00 Total General Expenses Art. 11 in accordance with Law 26 November 1980 n. 88 and the Decree of 29 December 1981 n.112, on
compliant resolution of the Board of Directors dell'AASS 103 of 12 September 2011, authorized the change in the balance for the year 2011 forecast of the Company itself, which includes variations of the same amount between chapters within the title 2 - capital movements - capital expenditures. Change that does not involve changes to the total of the estimates titles of entry and exit of the schedule of Annual Forecast for 2011 - Annex "D" - in art. 4 of Law 22 December 2010 n. 194. 5 Art.12 According to Law 31 October 1985 n. 127 and the Law 24 September 2004 n. 122, University of Studies, in compliance of the 12 Board of Directors resolution dated 25 August 2011, it is authorized to settle its budget for the financial year 2011 - Appendix "G" - in art. 7 of the Law 22 December 2010 n. 194, which is amended as follows: provisional state of the Entry Title 1-ordinary entrance € 3,640,000.00 Title 2-extraordinary entrance € 2,307,025.00 Title 3-Entry into the capital account € 218,700.00 title-4 Matches around € 550,000.00 Total € 6,715,725.00 forward-State General revenue Title 1-Output-current expenditure € 6,015,725.00 Title 2-charges capital € 150,000.00 Title 3-Matches around € 550,000.00 General total Expenses € 6,715,725.00 Art.13 the extraordinary additional tax IGR, or additional, is payable by all taxpayers, tax resident in the territory and is calculated at 15% net tax payable by them on the 'fiscal year 2010. net tax payable refers to the tax, applied on taxable income net of killing and liabilities of the deductible, which is after the application of any deductions required by law. Do not constitute the basis for calculating the additional taxes calculated on a separate taxation income and those applying as withholding outright. For the purposes of the surtax calculation we consider the statements IGR 2010 and the certificates issued by the employer in accordance with Article 29 of Law 91 of October 13, 1984. They are exempt from the surtax: - employees not tax resident in the territory (border); - Persons who in 2010 benefited from the grants mentioned in the bottom for measures related to income policy. The Additional Tax is levied by means of formation of a special collection role, pursuant to Law 2004/70 expiring February 29, 2012. The additional tax is compensated directly by the Tax with any credits for tax IGR, refer to the fiscal year 2010, claimed by the taxpayer. By reason of the foregoing, the application to its list referred to in the preceding paragraph shall only to the additional tax exceeding the receivable resulting from IGR. The additional tax is still due in the minimum amount of € 10.00 except in cases of exemption referred to in the third paragraph and the cases in which the net tax payable by the taxpayer is zero. If the taxpayer present additional submissions that change increasing the net amount of tax payable on the figure in this declaration, authorization must be paid to the Tax Office, on presentation of the supplementary return, the additional tax sum calculated on higher net tax due. The additional tax is also due in the case of null statements if the net tax is greater than zero. If the activity of monitoring and stock checks on incomes in 2010 in accordance with Law 91 of October 13, 1984 the taxpayer is held even after December 31, 2011 to pay a higher tax than that resulting from the declaration, this amount is due also a bonus of 15% of the additional tax rate. 6 In the event of failure to pay the recovery procedures will be activated coercive referred to in Title III 2004/70 Law. Art.14 The special tax on retirement income, referred to in Article 51 of Law 194 of 22 December 2010, it is levied by the Institute for Social Security and the Office of General Accounting by a deduction made at source to be carried out in December on income from the year 2011. the pension tax levied in the manner provided for in this article, is reversed to the tax Office to ascertain incoming on chapter 20 - general tax on the income of the financial year 2011. the tax referred to in paragraph 1 above is applied in the extent of 5% on the share of
net pension in excess of the € 2,500.00 per month, for each month's perceived. For the identification of the taxable retirement income proceed to the sum of all the ordinary pensions in relation to a sole proprietor. Are exempt from tax payers for which occurred revocation of pension income in 2011. Except as provided in the preceding paragraphs, the withholding tax as referred to in this Article shall apply also the pensions paid in 2012 but relating to 2011. Art.15 this law shall enter into force on the fifth day following that of its legal publication. Our Residence, this day of 28 November 2011/1711 THE CAPTAINS REGENT Gabriele Gatti - Matteo Fiorini THE SECRETARY OF STATE FOR INTERNAL AFFAIRS Valeria Ciavatta