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The new bands for salaries, the calculation of how much they increase with the tax reduction

2024-04-02 12:07:32Biznes SHKRUAR NGA REDAKSIA VOX

The new bands for salaries, the calculation of how much they increase with the

The Minister of Finance is drafting some fiscal changes related to salary taxation, which are expected to be approved within this month and come into force in July. The increase in the upper limit of the salaries on which the tax is applied has been put on the table for discussion. So, if until now 23% tax is applied to salaries above 200 thousand ALL, one of the options is that this threshold goes up to 250 thousand ALL.

Thus, from this initiative, employees with high salaries in the public or private sector will benefit from a tax reduction, which translates into an addition to the net monthly income they receive.

But how much extra do they get?

Scan TV has calculated the tax currently payable between the two salary levels. So an employee with a salary of 200,000 ALL pays tax of 22,100 ALL/month. Whereas, an employee with a salary of 250,000 ALL pays tax of 33,600 ALL/month. The difference between the two levels is 11,500 ALL, which is paid by employees with a salary of 250,000 ALL.

If the same formula that is currently applied for salaries up to 200,000 ALL is followed, employees who are paid 250,000 ALL/month will pay zero tax up to 30,000 ALL and 13% of the amount from 30,000 to 250,000 ALL.

So, for a salary of 250,000 Lek, the tax will be 13% of 220,000 Lek, or 28,600 Lek per month. In other words, an employee with a salary of 250,000 lek per month, until this level is intended to be raised, his net salary will be increased by 5,000 lek.

The same calculation is made with other salary levels from 200 thousand ALL to 2500 thousand ALL, while until now, salaries above 200 thousand ALL are taxed at 23% for the amount that exceeds this level .

Currently, 23,047 people, or nearly 1.7% of the total number of employees in the country, have salaries higher than 200 thousand ALL and their monthly income is taxed at 23%.


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