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.