All workers who earn salaries up to 100 thousand kwanzas are now exempt from paying Labor Income Tax (IRT), due to the fiscal measures contained in Law No. 15/23, which approves the General Budget (OGE) of the State for the 2024 Economic Year.
Before the entry into force of the OGE for the 2024 financial year, on the 1st, Monday, the law only exempted the IRT of workers with salaries up to 70 thousand kwanzas.
The extension of the IRT exemption to workers with up to 100 thousand Kz is, according to the Minister of Finance, Vera Daves, one of the ways to provide some relief to families through this fiscal measure.
The IRT is levied on the income of self-employed workers (self-employed, commercial and industrial professionals) or employees (dependent workers). For the purposes of this tax, income from work constitutes all remuneration received in the form of wages, salaries, fees, retainers, bonuses, subsidies, prizes, commissions, participations, attendance tickets, emoluments, participation in fines, costs and other remunerations accessories.