The modifications brought on by the new taxation legislation effective for salaried employees, pensioners & the self-employed.
TAX BRACKETS
10.000,00€ 9%
10.000,01€ - 20.000,00€ 22%
20.000,01€ - 30.000,00€ 28%
30.000,01€ - 40.000,00€ 36%
40.000,01€ & & above 44%
The declared income tax exemption limit is set at:
777,00€ for single & married taxpayers
810,00€ for taxpayers with 1 child
900,00€ for taxpayers with 2 children
1120,00€ for taxpayers with 3 children
The above tax discounts are applicable to persons with a declared annual income of up to 12,000.00€.
For income exceeding 12,000.00€, the discount will be offset by 20.00€ per 1,000.00€ of extra income.
Effective as of 1/1/2020, self-employed persons will also be under the legal obligation to keep a record of receipts, covering 30% of their income. Should they fail to do so, they shall incur an additional 22% tax.
COMPANY TAX
NET PROFITS TAX RATE 24%
DIVIDEND TAX RATE 5%
