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25. septembra, 2020

SLOVENIA: Tax changes and debureaucratization

The Government’s Strategic Council for Debureaucratization presented a proposal for measures in various areas. In the tax area, it has been proposed that:

  • No tax on capital gains after 15 years of capital ownership,
  • gains from cryptocurrencies would be taxed at 20% rate,
  • reduction of the tax rate on interest, dividends and rents (back to 25% from 27.5%),
  • effective reduction of rental taxation (from app. 23% to 17.5%),
  • increase of income tax relief from 3,500 to 4,000 €,
  • social cap for salaries over € 6,000 gross,
  • for micro and small businesses, the loss could also be covered retrospectively,
  • the tax on income of legal persons (DDPO) remains the same (19%),
  • new application of Financial administration (FURS) for the submission of returns of income from abroad (dividends, interest), which would immediately issue a tax return calculation, which could also be paid immediately,
  • abolition of the reduction of the tax base by € 1,000 from interest for natural persons,
  • one payment account for advance payment of personal income tax and social security contributions,
  • one date (20th of the month) for payment of personal income tax and contributions for entrepreneurs,
  • one withholdings tax returns form (REK form) for all types of income,
  • the informative calculation of VAT (DDV) would be prepared by Financial administration (FURS) on the basis of submitted invoices (received and issued),
  • simplification of transport costs (to and from work) calculation,
  • payments from family funds would be taxed at 20% rate,
  • introduction of the 6th income tax bracket with a rate of 10% (personal income tax of € 486 thousand is paid for the tax base of up to € 1 million, and € 586 thousand of over € 1 million, which is € 400 thousand less than now,
  • abolition of luxury tax at motor vehicle tax (DMV),
  • 1% of personal income tax could be donated to charity instead of the current 0.5%, also an increase in the% of relief for donations for legal entities and persons earning income from business activities ,
  • automatically terminated employment when the conditions for retirement are met. If the retiree wants to continue working and the employer agrees, work can continue without restrictions (retiree receives a full pension and salary, from which he pays all contributions and income tax),
  • all contributions and income tax on salaries would be calculated and paid in one amount,
  • salary payments in public administration would gradually move from the 5th to the 15th of the month,
  • merging several different business registers into one,
  • simplification of business performance reporting,
  • simplification of reimbursement of sick leave, regulation of work from home, simplification of work abroad.