02/01/14 - Tax changes

The following measures that have already been passed into legislation, will be implemented in January 2014:

 

  1. From 13 January 2014, the standard VAT rate will increase from 18% to 19%. The reduced rate of 8% will increase to 9%. No change in the reduced rate of 5%.

     

  2. In 2014 the scale of the special contribution on salaries and pensions has been adjusted as per below table so that the contribution applies to monthly income over and above 1.500 (instead of 2.500 as was in 2013).

     

    2012 - 2013

    2014 - 2016

    Monthly salary / Pension

    %age of contribution

    Contribution()

    Monthly salary / Pension

    %age of contribution

    Contribution()

    0 – 2.500

    0,00%

    0

    0 – 1.500

    0,00%

      0

    2.501 – 3.500

    2,50%

    25,00

    1.501 – 2.500

    2,50%

      25,00

    3.501 – 4.500

    3,00%

    30,00

    2.501 – 3.500

    3,00%

      30,00

    4.501 -

    3,50%

     

    3.501 -

    3,50%

     

     

  3. From 1 January 2014, the rate of social insurance contributions of employees and employers increases by 1%, to 7,8%. The rate of the contributions for self-employed persons increases by 2% to 14,6%.

     

  4. From 1 January 2014 the consumption tax on transport fuel increased by 0,05 per litre.