New tax steps apply from August, in September range from 6.8 euros more
(2 years ago)Kosovo's Tax Administration has announced that the application of new steps for personal income tax will begin from the month period of August. This means that due to the changed tax, 6.8 euros more will be issued in September salaries for all employed. Days ago, he entered [...]
Days ago, the Law went into effect for the minimum wage of 250 euros before it was raised to 350 with the Government's decision Wednesday. So far, anyone who had a salary of over 250 euros paid 6.8 euros in taxes. With tax changes to this value, there will be incomes that will eventually increase.
In a report Thursday evening, ATK has indicated that the application of new income tax rates will start from the August period. Therefore, the declaration and payment of payment in wages for the August 2024 monthly salaries will be calculated according to the new tax rates set out with Law No. 08/L-142”, said in notification.
The law on minimum wage and tax steps was adopted in July last year, but was sent to the Constitutional Court by opposition deputies. In June, the Constitution found that this Law did not violate the country's highest judicial act, and on Friday it was released in the Official Journal when it entered into force immediately.
The law envisions that at the end of each year, the Economic-Social Council proposes to the Government the measure of minimum wage, which the executive later approves.
The minimum wage in Kosovo was 130 euros for workers under 35 and 170 euros for workers up to 65 years. A few days after the law that raised the minimum wage to 250 euros took effect, the government decided Wednesday to raise it to 350 euros.
Even after that increase, Kosovo is the country with the lowest minimum wage in Europe.