Taxes will change / Self-employed, property sales, gifts and gambling profits are taxed at 15%

Top Channel has provided the new draft with some changes and learns that this is one of the proposals being considered by Finance which was not set out in the initial draft of the personal income law that is expected to be made public in the coming days.

Freelancers are the target of the new law, the list of which will be determined by a decision of the Council of Ministers, but the changes seem to be comprehensive as they affect many categories of taxpayers. Some of them are expected to start implementation from January 1, 2023.

Thus, referring to the new draft law, individuals who benefit from employment income up to 2.4 million ALL per year will be taxed 13%, while for those who exceed 2.4 million ALL income the maximum tax rate is 23%.

Changes are also foreseen for the annual declaration of personal income. If under the current law the obligation to submit it has the two employees and individuals who benefit over 2 million ALL per year from employment, with the new law the threshold is reduced to 1.5 million ALL, making anyone who receives gross income in this measure to submit the annual statement.

The interventions of the new law go further as it provides for taxation of income from business of any kind. A special tax regime will be followed for businesses based on the sector in which they operate, where from their income will be deducted the supposed expenses as a single amount.

60% of income will be reduced for manufacturing activities, 90% for wholesale trade, 70% for retail trade, 60% for bars and restaurants, 50% for artisans and 30% of income for employed individuals. , from 35% that was in the initial draft.

After deducting these incomes according to the fields, the tax will be made for the rest of them as personal income.

Also, the new system proposes taxation on income from agricultural or livestock production, on the alienation of real estate or business assets.

Also, with the new law will be obliged to pay tax 15% individuals who receive a gift or inheritance, which can be movable or immovable property or money earned.

Taxes for corporations remain unchanged with a tax rate of 8% dividend and 15% profit tax, while small businesses with a turnover of up to 14 million ALL will pay zero profit tax until 2029.

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