Usually, in the beginning of the year certain changes of legislation are introduced. We have already explained that the minimum wage increased starting 1st of January 2020. But this is not the only change that you can expect. 2020 also introduced novelties in regards to the scale of personal income tax. It is important information both for people starting a business in Slovenia and consider business immigration or employing other staff as well as for natural persons living and working in Slovenia.
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The personal income tax scale is relieving income of taxpayers
The limits in all five areas of the progressive scale are increasing. In the scale, 50% personal income tax applies to taxpayers with the yearly gross NET basis over 72.000 EUR. The rate of tax in the lowest area remains at 16%. It applies to taxpayers with the yearly NET basis up to 8500 EUR.
Within the scale, the tax rate is decreasing for 1% the 2nd and 3rd class. Starting from 2020, it will be 26% and 33% respectively. The basic tax deduction that all taxpayers can exercise is 3500 EUR. At the same time, a new linear deduction for yearly income up to 13.316 EUR came into force.
Examples of this scale are the following – if you are receiving average salary, the new scale relieves your salary by 144 EUR NET on a yearly basis. If you are receiving a double average salary, the scale relieves your income by 670 EUR on a yearly basis.
This information is important for employers as well so that they know what the amount of salary they give to the employee impacts their personal income tax.
For more information on company registration in Slovenia, send us an e-mail to [email protected]. You can also contact us over the phone 00386 1 6006 270 or 00386 40 530 718 (Viber, WhatsApp). You can also follow us on Facebook.