Zero income tax for those earning under €680 per month

8579The coming State Budget will ensure that the low paid will not pay income tax.

Those earning below €680 per month, an estimated 600,000 workers, will be exempt from IRS in a move by the socialist government to ensure that in 2018, the poorest workers will have a bit more left in their pockets at the end of the month.

Currently, those earning under €607 per month have been exempt from paying income tax.

This new and welcome proposal already has the agreement of the Left Bloc and the Communist Party, giving the socialist administration the back-up needed to get this measure passed.

The government's left wing support has made it clear that it expects this measure to be passed without interference or delay as the government does not have a majority in parliament.

Pointing out the current slack in the 2018 budget and the seemingly healthy economy, postponing this tax relief for workers, who have been punished throughout the austerity years, would be political move to make the 2019 election year look better for the government.

If the tax band is raise next year, there will be benefits to the economy and for those spared the pain of income tax on already low wages.

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Comments  

-1 #2 Ed 2017-09-04 22:14
Quoting Ml:
Is it €680 or €630?


Sorry, well spotted, the new level is to be €680
+2 #1 Ml 2017-09-04 20:30
Is it €680 or €630?

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