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All self-employed providing professional services from 1 January 2023 will be taxed progressively.
In the whitewashed draft of Finance that has been thrown for public consultation, it is determined that this category that until now was not taxed because it benefited from the facilities as a small business, for the income from 0 to 14 million ALL from their activity will be taxed with 15%, while if they pass this level of income the tax rate goes to 23%.
The list of freelancers that will be included in this tax scheme will be determined by a decision of the Council of Ministers, after the adoption of the law.
Business income for commercial individuals, ie small entities, will be taxed in the same way. But, unlike the liberal professions, for commercial individuals the introduction of this new taxation scheme is not foreseen closely and the new law does not set a timeline for when this may happen.
The draft specifies that until 2029 the facilities will remain in force and all businesses with a turnover of up to 14 million ALL (except for self-employed professionals) will continue to pay 0 profit tax.
Although the focus will be on freelancers providing services, the law brings many changes that affect other categories as well. Thus, individuals with annual incomes from 0 to 2,040,000 ALL will pay 13% tax, while for taxpayers who exceed this income limit the maximum tax rate of 23% is applied.
With the new interventions Finance has also revised the threshold for the annual personal income statement. If currently the obligation for its submission to the Taxes has the two employees and individuals with annual income over 2 million ALL, now with the new law the limit is reduced.
According to the new formula, all individuals who receive annual income from work of more than 1.2 million ALL will have to fill in the income declaration.
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