Tax changes in the CIT and PIT act
In September The Slovenian Parliament has endorsed changes of the Corporate Income Tax Act, Personal Income Tax Act and Tax Procedure Act. The changes will become effective on 01. 01. 2017.
According to the amendments of Corporate Income Tax Act the corporate income tax rate will rise from 17 % to 19 %, the allowance for donations to political parties will be abolished. Depreciation of goodwill will be no longer tax recognized.
Amendments to the Personal Income Tax Act are predicted to bring changes in income tax bracket. A new bracket with 34 % will be introduced and the current bracket of 41 % will be reduced to 39 %. These changes shall have positive influence on personal income. The changes are expected to favor tax treatment of Christmas bonuses.
Amendments to the Tax Procedure Act will eliminate some administrative barriers.
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