New Tax Changes from January 2014
1. Increase of normal V.A.T. rate (19%) and reduced V.A.T. rate (9%) from 13/01/2014
2. Increase of social contribution for employee and employer by 1% each, from 1st January 2014
3. Changes in the scales of Special defence contribution as follows:
2012 – 2013 | 2014 – 2016 | ||||
| Gross Salary | % of deduction | Deduction | Gross Salary | % of deduction | Deduction |
0-2,500 | 0,00% | 0 | 0-1500 | 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 |
4,500 – | 3,50% | 3,501 – | 3,50% | ||