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Personal income tax deduction

Newsletter 40

 

20 December 2019
 

PERSONAL INCOME TAX DEDUCTION

Increase of the limit for certain deductions for individuals from 1/6 to 1/5

On 19 December 2019, an amending Income Tax Law was published in the Official Gazette, providing an increase in the maximun annual deduction for:

from 1/6th to 1/5th of an individual's taxable income before such deductions.

The above amendment applies from the tax year 2019 onwards.

We remain available for any clarification or any information should be needed.

 

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