The Minister for Finance presented the Budget to the Parliament on 15 October 2013. The most important features of the Budget are as follows:
- Under the 2014 Budget, the corporation tax rate remains unchanged;
- Reduced VAT rate of 9% on various tourism-related services;
- A tax exemption of EUR 40,000 per year will be granted for two years to individuals starting their own business if they were unemployed for at least 15 months before that;
- Tax relief for medical insurance is to be limited to the first EUR 1,000 for adults and EUR 500 for children;
- A tax relief scheme for home renovation work will be introduced for a period of 2 years; and
- The top slicing relief in respect of ex gratia lump sum payments will no longer be available in 2014.
