“Tax Package” Announcement

An amendment of the Income Tax Act was announced on 16 June, 2017. Despite the fact that it was supposed to become effective on 1 April, the date has been postponed to 1 July, 2017, in practice.

The amendment is a part of the so-called „2017/2018 tax package“ and introduces changes in the amount of tax credits applicable on two (and more) children. Also, the maximum amount of incurred costs which may be applied by a physical person in a form of a „lump sum“ (i.e. a percentage on the relevant income) has been increased.

More detailed information may be found in our previous texts.