5 January 2015

On 20 November 2014 the Slovenian Government approved an increase in the IPT rate from 6.5% to 8.5% with effect from 1 January 2015. This shall provide additional funding to the State Budget and replace the loss of revenue from the expiry of the Tax Act on Balance Sheets on Banks. The relevant legislation was adopted by the National Assembly on 4 December 2014 and published in the Official Journal on 15 December 2014.
The Slovenian Government estimate that the rate increase will generate an addition EUR 18.5 million per annum at a time when taxes on insurance business are falling. EUR 69.7 million was generated in 2012 whereas the estimated figure for 2014 is EUR 62.9 million.
Furthermore, penalties for medium and large companies in respect of offences will increase and these will range from EUR 4,000 to EUR 125,000.