Main changes in declaration of income of 2012
In the table below you will find the main changes concerning the declaration of income of 2012 in comparison with 2011.
Income tax return of a natural person must be submitted by 1 April 2013.
| 2011 | 2012 |
General limitation on deductions | Taxpayer can deduct housing loan interests, training expenses, gifts and donations in the amount up to 3196 euros totally, but not more than 50 per cent of the taxpayer’s income for the same taxation period. | Taxpayer can deduct housing loan interests, training expenses, gifts and donations in the amount up to 1920 euros totally, but not more than 50 per cent of the taxpayer’s income for the same taxation period. |
| Limitation on deductions | Contributions to voluntary funded pension – limitation on deductions of 15 per cent is applied. | Contributions to voluntary funded pension – limitation on deductions of 15 per cent is applied, but not exceeding 6000 euros. |
Sale of cutting rights and timber | Expenses related to reforestation could be deducted from the income derived from transfer of the right to cut standing crop and carried forward at the request. | Expenses related to forest management may be deducted from the income derived from transfer of the right to cut standing crop and felled timber and carried forward to up to three following periods of taxation. The taxation of the gains received may be carried forward to up to three following periods of taxation as well. |
| Leaving the income tax to be refunded to ETCB. | The income tax to be refunded could be left entirely to ETCB. | The income tax to be refunded can be both partly and in full amount left to ETCB. |
| Investment account | Taxpayer himself/herself had to fill in the data in the investment account. | In cooperation with banks the forms completed with data in advance shall be offered. |