Tax changes for calendar year 2024

Below is a brief recap of the tax implications of the government's consolidation package, which will be applied after 1st January 2024. 

There will be an increase in the rate of corporate income tax to 21 %, with restrictions on the tax deductibility of car depreciation and new rules for exceptional depreciation. With the personal income taxthere are changes to the spouse tax credit and restrictions on employee benefits. The standard VAT rate will be still at 21 %, but the reduced rate will be at 12 %.  This rate will apply to specific items. Other adjustments include an increase in property tax rates, an increase in excise duties and new rules for agreements for the performance of work.

These changes will have a significant impact on your business, and we are here to answer any questions you may have.

Tax News_English.pdf

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