Under the new decree the social contributions tax is payable in case of the following forms of income as of 1 July 2023.
- Credit institution deposits, payment accounts in the case of interest income on the receivables balance: the social contribution tax applies to the interest for the period following the entry into force of the decree. In case of Term Deposits, the tax applies to the interest rate of the fixed deposit deposited after June 30, 2023.
- Publicly traded bonds and investment notes: the tax applies to the interest income subject to personal income tax deriving from these securities acquired from the entry into force of the regulation.
- Object prize and securities drawn for prize deposit: the tax applies to the property value to which the private individual is entitled in its entirety as interest income for the period following the entry into force of the decree.
Impact on investors: As of July 1, 2023, social contribution tax is payable by natural persons after interest income from certain investment forms. For detailed information on the scope of the Regulation, please contact your tax adviser.