Slovenia Tax Deductions
Slovenia Tax Deductions
All forms of relief relate to the income of an individual who is a Slovenian resident.The following amounts are subject to the definition and ceilings in Slovenian law:
Personal Relief
- Personal allowance for a resident starting EUR 3,303.
- A deduction for purchase of primary residence,up to 4% of the taxable income.
- Receipt of state cultural grants, up to a limit.
Business Deductions in Slovenia
The following expenses are partially allowable for tax purposes in Slovenia, subject to certain conditions:- Offset of losses - a loss may be offset forward up to 50% of current year's income.
There is no carryback. - Consolidated reports are not allowed.
- Finance expenses - in certain circumstances, financing expenses are not allowable.
These circumstances include a loan received from associated parties, or loans that are granted on terms that are significantly different from the accepted terms in the Slovenian market. - When the debt to equity ratio is above 4:1, the interest expense on loans is not allowable for tax purposes.
- Depreciation on fixed assets - the allowable rates of depreciation in Slovenia are:
| Class of Asset | Annual Depreciation,% |
|---|---|
| Computers | 50% |
| Machinery and equipment | 25% |
| Buildings | 5% |
| Goodwill | 10% |