Artists shall now be charged at a rate of 7.5% on their net earnings after allowing for deductible expenses in terms of Article 14 of the Income Tax Act. This tax rate is applied to an amount not exceeding €50k, and any excess must be declared in the individual's tax return and taxed in accordance with the applicable progressive rates. No losses are allowed to be carried forward.
In accordance with this legal notice, the provisions of Article 90A of the Income Tax Act relating to the 15% tax rate on income from part-time work do not apply to income from artistic activities.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
