Income tax reform effective from 2013

5 April 2012

On 5 March 2012, Decree 10/2012 was published in the Official Gazette. The Decree introduced major amendments to the tax system.

Main amendments to the income tax, which unless otherwise indicated are generally effective as from 1 January 2013, are as follows.

Income tax rates

Taxable income is subject to tax at the following rates:

(1) income derived from business activities:

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