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If you are single you are tax exempt up to 7,664 Euros(15, 329 for married couples) per annum.After that you are liable for 15% tax up to 52,152(104,304 for couples). From 52,153 to 250,000 the tax is 42% & over that is 45%. For example, if you are single & earn 15,000 per annum you are liable to pay tax on 7,336(15,000 minus 7,664(personal tax allowance). So 15% of 7,336 is 1100,40.
What else can I help you with?
How does the UK tax system different from the Sierra Leone tax system.?
briefly explain the tax system of Sierra Leone
How much money can you make before you need to report it?
If you are earning money then you should report it. The tax system will allow you to make a certain amount before you have to pay tax BUT you should let the system work this out. If you do not declare your income and you do owe tax then they will eventually come after you and fine you for not declaring your earnings.
Principles of a good tax system?
The principles of good tax system is that it is efficient, understandable and equitable. The benefit principle is also another principle of a good tax system.
How does the Canadian tax system work?
In Canada, the government collect money from individuals to help to pay for government programs and services, for instance schools are one which needs to be paid for, therefore it is paid for through tax.
A tax charges the same percentage regardless of other factors?
A flat tax system. A Proportional tax system is one that takes more as you earn more.
How does the UK tax system different from the Sierra Leone tax system?
briefly explain the tax system of Sierra Leone
How does the UK tax system different from the Sierra Leone tax system.?
briefly explain the tax system of Sierra Leone
What is proportional tax system?
The proportional tax system refers to the same percentage of tax regardless of the taxpayer's earnings. Proportional tax is also called as a flat tax.
When a tax system is referred to as being neutral it implies that?
tax system is fair
How much money can you make before you need to report it?
If you are earning money then you should report it. The tax system will allow you to make a certain amount before you have to pay tax BUT you should let the system work this out. If you do not declare your income and you do owe tax then they will eventually come after you and fine you for not declaring your earnings.
What is Proportional System?
The proportional tax system refers to the same percentage of tax regardless of the taxpayer's earnings. Proportional tax is also called as a flat tax.
Principles of a good tax system?
The principles of good tax system is that it is efficient, understandable and equitable. The benefit principle is also another principle of a good tax system.
Is the current US income tax system consistent with the capitalistic model?
no -- it is a regressive tax; earn more, pay more; capitalism is the opposite: work more, earn more, keep more.
How do you spell work in German?
"Work" translates into German as "Arbeit", "Tätigkeit" or "Werk".
How do you say will you work in German?
Wirst du arbeiten? means will you work in German
Is zins a German last name?
Yes, Zins is a German last name. It is derived from the Middle High German word "zinse," meaning tax or duty, and was likely used as an occupational surname for a tax collector or someone involved in financial matters.
What is historical background of taxation and tax law in Tanzania?
The historical background of taxation in Tanzania dates back to the colonial period when the German and later British colonial administrations implemented tax systems to generate revenue. After gaining independence in 1961, Tanzania adopted a centralized tax system influenced by socialist policies, which emphasized state ownership and control. Over the years, tax reforms have aimed to modernize the tax system, improve compliance, and broaden the tax base, leading to significant changes in tax laws and administration. Today, Tanzania's tax framework is largely governed by the Income Tax Act and the Value Added Tax Act, reflecting ongoing efforts to enhance economic growth and development.
