- Statutory Tax Rate 25
- Surtax Based on Taxable Income 0
- Surtax Based on Statutory Tax 0
- Surtax Deductible from Taxable Income 0
- Statutory Tax Deductable 0
- Effective Tax Rate 25
Statutory Tax Rate
The standard corporate tax rate for companies is 25% for the year ending on 31 December 2022 (reduced from 27% effective 1 January 2022).
Mining companies, financial and credit institutions, and leasing companies are subject to tax at the rate of 35%. However, this rate is scheduled to be reduced (subject to certain conditions for financial and credit institutions, and leasing companies) to 33% for 2023, 31% for 2024, 29% for 2025, 27% for 2026, until reaching the standard rate of 25% from 2027 onwards.
A rate of 20% applies to companies engaged in:
- The production of energy from renewable energy sources;
- Effective 1 January 2022, activities exclusively in the digital sector, including:
- computer programming;
- computer systems and software advisory;
- third-party maintenance of IT systems and applications;
- management of IT facilities and Internet portals;
- data processing, hosting, and related activities;
- publishing of electronic games, system and network software, software development tools, etc.; and
- Effective 1 January 2022, activities exclusively in the research and development sector, including fundamental research, applied research, and original research undertaken with a view to acquiring new knowledge primarily towards a specific goal or objective.
New companies are exempt from corporate tax for the first three business years.