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The Individual Income Tax Act (630): Difference between revisions
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The Individual Income Tax Act (630) (view source)
Revision as of 12:22, 10 October 2021
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==Article 1 - The Income Tax==
:1.1 - Creates a progressive tax on all earnings by citizens of the Republic set at the median annual tax rate of 33%, and sets Income Tax Brackets as follows:<br>
:1.2 – The first ₣15,000 of Income shall be tax free<br>
:1.2 - ₣15,000 - ₣30,000 shall be taxed at 18%<br>
:1.3 - ₣30,000 - ₣60,000 shall be taxed at 33%<br>
:1.4 - ₣60,000 - ₣120,000 shall be taxed at 45%<br>
:1.5 - ₣120,000 and over shall be taxed at 60%
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