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At present, the PPI is set at 23%. However, with the changes in the law, it is planned to introduce a differentiated PPI from next year. The annual IIN rate for annual revenues of up to 20,000 euros will be 20%, with incomes of up to 55,000 euros – 23%, incomes over 55,000 euros – 31,4% .
The tax rate of 31.4% will not apply to income from salaried employment during the taxation year. The income payer, with any income above € 1667 per month, will withhold a tax of 23%, but if this income exceeds € 55,000 in a tax year, for example, income for the year tax is € 65,000, the IOP income tax year will be calculated and paid in summary form.
A single rate of 20% is also determined for capital income, including capital gains. Previously, they were 10% and 15%. However, in order to guarantee the principle of legitimate expectation in the event that the payer would receive income from a capital increase, the IRP will apply a rate of 15%.
The PIT rate will also change patent fees, indicating that the patent fee ranges from 50 EUR to 100 EUR per month, compared with 43 EUR previously to 100 EUR per month.
The amendments to the law also provide for the prize lot for lots in lotteries and cash games, if the lot value exceeds 3,000 euros, with the exception of the instant lottery centennial lottery ", lots for lots of goods and services.
Similarly, in order to benefit from a relief from the IRPP for the payment of insurance premiums, the amendment of the law extends the life insurance contract term from five to ten years.
The law also specifies the amount of tax-free income for the funeral allowance granted by the employer – from EUR 213.43 to EUR 250 and the employer's gifts during the tax period EUR 14.23 to EUR 15
In the following, a percentage of 50% of the taxable annual income of the taxpayer and the total limit of 600 euros per year for the payer and each member of the payer's family will be determined – the total eligible expenditure for medical care and educational services, donations, donations to political parties and children 's education activities.
The amendment of the law also provides that from 1 January 2018, the reduced patent fee – 17 euros per year or nine euros per semester – will also be entitled to pay a person who, in accordance with the regulations, has been recognized as a disabled person in the first or second group.
The non-taxable minimum pensioner is carried next year to 250 euros per month, in 2019 up to 270 euros per month and from 2020 up to 300 euros per month.
To facilitate the use of IIN payers, the amount of capital badignment income determined to determine the deadline for submission of a capital increase statement is rounded to the rounded figure of 1 000 euros. In addition, the deadlines for submission of the capital increase declaration will be modified. The amendments to the law provide that if the payor's total capital gains exceed $ 1,000, this return of capital gains return must be filed by the 15th of the month following the quarter. Conversely, if the total capital gains of the beneficiary for the quarter does not exceed 1,000 euros, the declaration of capital gains income must be provided for the taxation year up to the date of the taxation year. as of January 15 of the year following the taxation year.
It has already been announced that the Cabinet of Ministers is considering today the remaining laws on tax reform – amendments to the law on the personal income tax, the law on the tax. Solidarity Tax, Excise Tax Act, Social Insurance Act, Corporations Tax Act and Microenterprise Act.
In addition, last week the government approved amendments to the law on taxation of vehicles and companies, the law on taxes and charges, the law on value added tax, the law on lotteries. and gaming taxes and adopted a new law entitled "Support for Taxpayer Delinquency". and fines for cancellation ".
After reviewing the bills in the government, they will be submitted to the Saeima, which could be adopted on July 21 at the second reading of the bill.
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