Individual - Significant developments

Last reviewed - 29 June 2020

Starting from 1 January 2020, the higher 32% personal income tax (PIT) rate for the income exceeding the threshold established should be applied instead of the previously applicable 27%.

Starting from 1 February 2020, employee stock options exercised at no cost or for lower than their fair market value price not earlier than three years following their grant date will be treated as non-taxable income for PIT purposes, meaning that taxation should arise only at the time of share sale. This relief will apply to stock options newly granted after 1 February 2020.