The new budget also sees a reduction in the duration of the 30% ruling. The duration of the ruling has been reduced from 8 to 5 years, effective from the 1st of January, 2019. In principle, this reduction applies to all taxpayers, including those who have been initially granted the ruling for up to 8 years.
However, grandfathering rules do apply, which result in the following:
1. Rulings that are set to expire in 2019 or 2020 will remain unaffected.
2. Rulings that are set to expire in 2021, 2022, or 2023 will expire on December 31, 2020
3. Rulings that are set expire in or after 2024 will face a reduction in duration of the ruling by 3 years.
