26 Main Changes of the New Tax Code

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In terms of taxes, 2016 brings us relaxed fiscal measures thanks to price reductions on products and services after lowering the VAT rate to 20% (and in some cases to 9% and even 5%) and reducing the tax on dividends to 5%. Also, there are additional contributions to PFA – through the obligation to pay individual pension contribution rate of 10.5%, plus an increase in housing and land taxes.