Data Characteristics
Data Characteristics Other data characteristics Other data characteristicsFrom January 1st 2018, the new tax rate for companies who distribute profits regularly was introduced. The rate falls to 14% in three years.
The first year with lower rate was 2019, when 2/3 of the distributed profits was taxed with 20% and 1/3 with 14%. In 2020 1/3 is taxed with 20% and 2/3 with 14%. In 2021 all with 14%.
The lower rate in 2019 was applied only on the amount which did not exceed the amount distributed in 2018. The 14% in 2021 is applied on the lowest amount of distributed profits in the four-year period 2018-2021. For example if the distributed profits are 2018 – 30 mil, 2019 – 31 mil, 2020 – 18 mil, 2021 – 40 mil, then the rate of 14% in 2021 is applied on 18 mil.
From 2018 the credit institutions pay advance income tax with rate of 14% from profit earned in previous quarter. The first payment was in September 2018 from the 2018 II quarter earned profits. It can be subtracted from next year`s CIT on distributed profits.
From January 1st 2018, the new tax rate for companies who distribute profits regularly was introduced. The rate falls to 14% in three years.
The first year with lower rate was 2019, when 2/3 of the distributed profits was taxed with 20% and 1/3 with 14%. In 2020 1/3 is taxed with 20% and 2/3 with 14%. In 2021 all with 14%.
The lower rate in 2019 was applied only on the amount which did not exceed the amount distributed in 2018. The 14% in 2021 is applied on the lowest amount of distributed profits in the four-year period 2018-2021. For example if the distributed profits are 2018 – 30 mil, 2019 – 31 mil, 2020 – 18 mil, 2021 – 40 mil, then the rate of 14% in 2021 is applied on 18 mil.
From 2018 the credit institutions pay advance income tax with rate of 14% from profit earned in previous quarter. The first payment was in September 2018 from the 2018 II quarter earned profits. It can be subtracted from next year`s CIT on distributed profits.