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Next Tax-free € 22 thousand requested by civil servants HOME • INSIDER • CYPRUS • Tax-free € 22 thousand requested by civil servants
& nbsp & nbspEleftheria Paizanou & nbsp; & nbsp;
An increase in the tax-free amount, adjustment of the tax scales in incomes, as well as tax relief are requested by the civil servants, through their trade unions.
In particular, workers in the wider state apparatus, including teachers and police officers, are demanding a say in the tax reform promoted by the government, although this does not seem to be, at this stage, the scope that trade unionists value. The organizations call on the Minister of Finance, Konstantinos Petridis, in the context of the reform to proceed with tax reliefs for individuals.
The trade unions PASYDY, OELMEK, POED, OLTEK and SAK sent a letter to the Minister of Finance, requesting that a meeting be scheduled & nbsp; for tax reform. According to information from “Φ”, the civil servants propose the non-imposition of tax on natural persons who have an annual income of up to € 22 thousand. Today, employees with earnings up to € 19,500 are exempt from tax. At the same time, they suggest the adjustment of the scales for the income tax for natural persons, as follows:
– The annual earnings from € 22,001 to € 31,500 to be taxed at 20%
– Income from € 31,501 to € 41 thousand to be taxed at 25%
– Earnings from € 41,001 to € 67 thousand to be taxed at 30%
– For annual incomes € 67,001 and above to be taxed at 35%.
What is valid today
Today the tax rates on income are the following:
– From 0 to € 19,500, zero tax
– Income from € 19,501 to € 28 thousand are taxed at 20%
– Annual earnings from € 28,001 to € 36,300 are subject to 25% tax
– Income from € 36,301 to € 60 thousand are taxed at 30%
– For earnings from € 60,001 and above the tax is 35%.
As the trade unions point out, a decisive factor for the amount of tax relief is inflation, which from 01.01.2008 to 31.12.2021, according to the official data of the Statistical Service, amounted to 11.9%. In fact, they note that the & nbsp; estimates are that this year, but also in the coming years, the index will fluctuate with a growth rate of over 3%. It is worth noting that the Ministry of Finance recently revised its estimate for inflation for 2022 to 4%.