2023-06-16 04:57:06
Posted
Taxation in LuxembourgA nice surprise awaits you on the July payslip
LUXEMBOURG – The law on the tax credit must be passed by the end of the month, bringing a net salary surplus from July.
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- Joseph Gaulier
A family with one child and 81,000 euros of income in the year will recover 620 euros.
These are a few tens of euros per month, with variations depending on the case, which will be added to net salaries from July. The law establishing a tax credit for the year 2023, announced during the tripartite meeting on March 3, “is practically ready”, assures MP Gilles Baum (DP), chairman of the Tripartite commission in the Chamber. Discussions are scheduled for Friday, but “the Council of State has not issued a formal opposition or requested a reformulation”, rejoices the elected liberal.
He hopes to “adopt the report at the beginning of the week in committee, then vote on it in the Chamber before the end of the month”. From July, “the State will take a smaller sum from gross salaries, with a calculation according to the situation of each”, notes Gilles Baum. The amount of the tax credit will correspond to “an adaptation of the tax scale with two index brackets”. The last seven indexes had not given rise to an adaptation of the tax, tipping taxpayers into higher brackets.
A retroactive measure
The tax credit will earn 245 euros in the year for a single person without children earning 36,000 euros per year, according to calculations by the Ministry of Finance validated by the social partners. A single-parent household at 50,000 euros per year will recover 450 euros, while a family with a child with a combined income of 81,000 euros will receive 620 euros more.
A very good surprise awaits employees during the July pay slip, thanks to the retroactivity of the measure. A credit corresponding to the overpayment of the first seven months of the year “will be applied to the month of July alone”. Next year, the device will be replaced by the adaptation of the tax scale to two index brackets.
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