Portrait of an Ascending Sovereign Credit
Tax changes are planned from 2021 until 2023
Key goals: promotion of the country's social sustainability and economic competitiveness
The informative report "On the Development Directions of Tax Policy, Promotion of the State's Social Sustainability
and Economic Competitiveness" has reviewed by the Cabinet of Ministers on September 2, 2020*
Proposed main directions of tax changes
Increase the income threshold up to which the differentiated non-taxable minimum applied
Reduce the rate of mandatory state social insurance contributions
Introduce a minimum social contribution object for employees whose monthly income does not reach the amount
of the minimum wage
Reorganize the micro-enterprise tax regime
Gradually increase excise duty on tobacco products and changes in vehicle taxes, etc.
Increase the minimum salary
from EUR 430 to EUR 500 in 2021
* The government is in the process of agreeing to approve certain tax changes
Source: Ministry of Finance
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