PARIS: Income tax will be reduced for some 150,000 people who did not benefit from lower income tax in the past two years, Finance Minister Edward Scicluna announced in the Budget speech this evening.
Individuals with an income of up to €9,100, couples with a joint declaration of up to €12,700 and individuals with a parent’s declaration up to €10,500 will not be charged income tax.
Furthermore, those with a Single Declaration up to €19,500 will save up to €90 in taxes per year. Parents with a Single Declaration earning up to €21,200 will save up to €105 per year.
Married couples with a joint declaration up to €28,700 will save up to €120 and couples who both work but file Single Declarations will save €180 in total.
Married couples who earn up to €21,000 each will save €210.
Tax brackets will also be adjusted so that minimum wage earners and those with a small pension will see their threshold rise so that they will continue not to pay tax.
LOW TAX ON SPORTS ACTIVITIES
VAT charged on sports activities including gym memberships, fitness centres and sports nurseries will be reduced from 18% to 7%.
The reduced 7.5% income tax currently applicable for football and waterpolo players is being extended to coaches and players in all sports.
The police will get taxed separately at 15 per cent for extra duties from January 1.
