Tax facts

INCOME TAX RATES

VALUE ADDED TAX (VAT)

25% unless specially exempted (as e.g. insurance, banking and certain financial activities).

CAPITAL GAINS TAX (CGT)

Tax paid at company tax rate, i.e. there is no separate capital gains taxation. Income and capital gains are generally pooled and taxed together.

LOSSES

Losses may be carried forward indefinitely. No carry back is permitted. For companies, the carry forward may be restricted upon changes in ownership or settlement with creditors.

TREATY NETWORK

84 countries.

WITHOLDING TAX (non-residents)

Dividends: 28% or 0% when paid to a company, which owns at least 15%
Interest: 30% or 0% when paid to a company/individual
Royalties: 30%

Various domestic exemptions and relief under either EU Directive or tax treaties apply.

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