On 31 December 2020, the President signed the Finance Act for the year 2021, which includes the following measures:
- The Act imposes a 15% capital gains tax on the real estate and securities transactions and describes calculations and liability for payments.
- Under the Act, new electronic filing obligations are introduced, including a new requirement to submit an annual summary statement containing information to be extracted from tax return by 20 May of each year.
- Exemption from VAT foreign currency in case of generating exports.
- The Act implements withholding tax on monthly income from salaries and pensions.
- Also, the Act establishes tax rates between 7% and 15% regarding rental income for individuals and companies.
- A 10% withholding tax is established on research sectors.
