Tax Number required for Tax Credits in 2015
Under the new budgetary rules, Tax and Customs Authority (AT) officials alert that only invoices that include an individual’s tax number (“NIB”) will be eligible for tax reductions on personal income tax expenses in 2015.
Alimony
In 2015, those receiving alimony may choose between antonymous assessment of 20% (tax independently at 20% from other income) or they can aggregate alimony together with other taxable sources and be taxed at marginal rates.
Education Vouchers
Education Vouchers may be granted by companies to employees who have dependent children who are studying and whose education expenses are borne by the parents. In 2015, these education vouchers can be assigned to dependents under 25 years of age to be used to pay for schooling and other educational services as well as expenses and textbook manuals. These vouchers are tax exempt.
Measures to support mobility and entrepreneurship
Compensation awarded to employees for working more than 100 km from home is exempt from IRS assessment. Expenses and charges incurred directly by the company from the movement of these workers are also excluded from taxation.
In addition, sole traders who start a business in 2015 will benefit from a reduction of 50% in personal income tax in the first year and 25% in year two.
Dennis Swing Greene

Dennis Swing Greene is Chairman and International Fiscal Consultant for euroFINESCO s.a.
www.eurofinesco.com.