Tag: tax-cuts
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SMEs and self-employed to have their tax cut from 35% to 25% for turnover under €1 million
Finance Minister Clyde Caruana pledged new tax cuts earlier today as part of the ongoing election campaign which has turned into a supermarket-styled election campaign that also risks compromising public finances according to the Chamber of Commerce. The Minister of Finances pledged to lower the tax for SMEs and the self-employed for those earning less…
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Budget 2025: Tax Brackets and Exemptions for Singles, Married Couples, and Parents
Here’s a breakdown of the revised tax computations for singles, married couples, and parents starting in 2025. Single Taxpayer Computation: Starting next year, the raised non-taxable income threshold for single taxpayers will increase from €9,100 to €12,000. Income beyond this amount will be taxed as follows: • The first €12,000 will be tax-free. • Income…