Current Affairs
Tax on overtime to be reduced

The Government has announced that the tax on overtime will be reduced to 15% to make it equal to the current rate which is paid on part-time work.

This tax reduction will apply based on three conditions to avoid any abuse.

The first 100 hours of overtime will be paid at this new rate, and will  apply only to those whose basic salary is €20,000 yearly. This rate will not apply for those who have a managerial role.

The tax refund to 200,000 workers who have an income which is less than €60,000 will be given once again and will vary between €40 and €68, with the highest rate to be paid to those who have the lowest income.