2023-05-02 13:03:25
Last April 11 was the first day of the period in which the income tax return can be submitted for the current campaign, with June 30 as the deadline. Personal income tax (IRPF) it is a progressive and proportional tax: the more income, the more you have to pay. This is how all the earnings obtained during the previous year, either income from work or savings.
From these tickets are applied deductionsgiving the liquidable basis or IRPF basis. Depending on the profile of each taxpayer: whether they are single or married, whether they have children or not, possible degrees of disability… And the withholdings, which are carried out based on each person’s income.
The sections of the personal income tax are the ones that mark the type of withholding that applies, with progressive percentages on the liquidated base: more income, more retention. And it is in this framework that the threshold of 35,200 euros becomes important, the fourth section, in which this progressive income-retention ratio is particularly noticeable.
These are the income tax brackets according to income:
From 0 to 12,450 euros: 19%
From 12,450 to 20,2000 euros: 24%
From 20,200 to 35,200 euros: 30%
From 35,200 to 60,000 euros: 37%
From 60,000 to 300,000 euros: 45%
More than 300,000 euros: 47%
The Tax Agency reported on the draft of the reform of the personal income tax regulation in which workers with less than 35,200 euros of gross annual income have lower withholdings this year, due to the tax reduction for the income of up to 21,000 euros and the increase from 14,000 to 15,000 euros of the annual gross salary.
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