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Slovenian Lawmakers Approve Corporate Minimum Tax Plan

by Ulrika Lomas, Tax-News.com, Brussels

15 November 2019


On October 23, 2019, Slovenia's National Assembly adopted a package of tax measures which includes changes to corporate, personal, and capital gains taxes.

Under the bill, a corporate minimum tax of seven percent will be introduced. This is intended to ensure that companies which substantially reduce their tax liabilities by utilizing tax credits and offsets, including loss carryforwards, pay a minimum level of corporate tax.

For personal income tax payers, the amendments increase tax thresholds and reduce the tax rates for the second and third tax brackets by one percent to 26 and 33 percent.

The proposed amendments also include changes to the rate of taxation for capital income, rental income and income from derivatives, which will increase from 25 to 27.5 percent. For capital gains and derivatives income, the tax rate falls depending on the length of time an asset is held. For assets held for between 10 and 15 years the rate is 20 percent, and for those held for between 15 and 20 years the rate is 10 percent. Assets held for more than 20 years are exempt.

In addition, the bill includes measures designed to increase voluntary tax compliance and to improve the tax authority's audit strategy. With regards to the latter, data from the international exchange of tax information will increasingly be used to target tax audits more effectively.

TAGS: capital gains tax (CGT) | compliance | tax | investment | tax compliance | Slovenia | real-estate | audit | tax thresholds | tax credits | tax authority | transfer pricing | tax rates

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