Thursday , June 24 2021

Who and how much will benefit from the abolition in 2021 and who will not benefit

The abolition of the special solidarity allowance for employees in the private sector who in 2021 will earn income over 12,000 euros from wages and for taxpayers who have earned more than 12,000 euros this year from companies, agricultural holdings, real estate and real estate the order is approved recently by Parliament and enters into force in January of the new year.

However, the abolition will not apply, in all cases where the taxpayer’s income has been determined, based on subject, at a higher level than that declared both in the year for which the fee is not levied and in at least one of the two previous years.

The abolition will also not apply in 2021 to all workers in the private sector annual income over 12,000 euros. There are some employees with annual incomes over 12,000 euros, who will see the benefits of the abolition a year later, 2022. These are those who are not paid with regular salaries but with “blocks” from which they issue invoices for services for remuneration . they get every month. For these taxpayers, the abolition of the solidarity allowance will be … perceived in 2022.

See a table with the advantage of abolishing the solidarity allowance HERE
The special solidarity allowance is debited each year, starting in 2011, to each natural person who has an annual total individual – real or credited – income in excess of EUR 12,000 from all sources.
It is introduced in stages, with interest rates of 2.2% -10%, in the part of the annual income over 12,000 euros. Therefore, the recently adopted provisions, which enter into force on 1-1-2021, do not apply mainly to taxpayers earning an annual income of less than EUR 12,000, as they are already exempt from this tax due to the low level of their annual income.

read more here

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