chocaholic
30-12-2011, 20:19
Higher Taxes
The government, which made campaign promises to promote saving, said today it will raise levies on income from savings and on property. A temporary additional income tax will start at 0.75 percent for the lowest earners, rising to 4 percent for those earning 53,407 euros a year and 7 percent for those on 300,000 euros or more.
The additional levy on revenue from savings starts at 2 percent tax on income of as much as 6,000 euros, rising to 4 percent above that and 6 percent on income above 24,000 euros.
A freeze on civil servants' wages will remain in place and their working week will stretch to 37.5 hours from 35. Pensioners will receive a 1 percent increase, a move that will cost 1.4 billion euros, and the government will also maintain a special 400-euro-a-month unemployment benefit, a popular measure in a country where almost one in four people is jobless. It will bring back a rebate for mortgage-holders.
Full article here http://www.sfgate.com/cgi-bin/article.cgi?f=/g/a/2011/12/30/bloomberg_articlesLX12FL0D9L35.DTL
The government, which made campaign promises to promote saving, said today it will raise levies on income from savings and on property. A temporary additional income tax will start at 0.75 percent for the lowest earners, rising to 4 percent for those earning 53,407 euros a year and 7 percent for those on 300,000 euros or more.
The additional levy on revenue from savings starts at 2 percent tax on income of as much as 6,000 euros, rising to 4 percent above that and 6 percent on income above 24,000 euros.
A freeze on civil servants' wages will remain in place and their working week will stretch to 37.5 hours from 35. Pensioners will receive a 1 percent increase, a move that will cost 1.4 billion euros, and the government will also maintain a special 400-euro-a-month unemployment benefit, a popular measure in a country where almost one in four people is jobless. It will bring back a rebate for mortgage-holders.
Full article here http://www.sfgate.com/cgi-bin/article.cgi?f=/g/a/2011/12/30/bloomberg_articlesLX12FL0D9L35.DTL