tax allowance

Tax allowance

Tax allowance is a form of tax relief in the case of the application of which, the amount of tax payment obligation will be lower than it would be under general rules. Tax allowance may serve social and economic purposes and it is a means for the state or the municipality to influence the behaviour of taxable persons. 

A few examples of the tax allowances currently available: 

• Tax allowances concerning corporate tax 
• Tax allowances concerning personal income tax 
• Tax allowances concerning social contribution tax 
• Tax allowances concerning local business tax