Amendments to taxes on personal income
As of 1 January 2020, amendments of the Slovene Personal Income Tax (PIT) Act have been put into effect and the following provisions have been affected:
- Increase of thresholds of all tax classes.
- Increase of general tax allowance from 3,302.70 euros (EUR) to EUR 3,500.00.
- Additional deduction of tax base in case annual income does not exceed EUR 13,316.83.
- Limitation of deduction of the tax base of self-employment income to 63%.
- Increase of the tax rate in respect to capital income from 25% to 27.5%.
- Increase of the tax rate in respect to rental income from 25% to 27.5% and increase of the percentage of standardised expenses recognised in determining the tax base of rental income from 10% to 15%.