Individual income tax in Germany Zhuraeva G Fin

Individual income tax in Germany Zhuraeva G. Fin 231

An essential part of the deductions from income taxes are not as social transfers. This medical insurance , contributions to unemployment insurance, from helplessness , as well as the pension fund. Together, they take about 20 % of the salary.

INCOME TAX (EINKOMMENSTEUER) Income tax on individuals. This tax is the main source of government revenue. The object of taxation on it is the personal income received by them from various sources. In contrast to the Kazakhstan income tax is progressive in Germany. Its minimum rate - 19% , maximum - 53%. The maximum tax rate applicable to the citizens whose income exceeds 120 thousand marks. At the present time the non-taxable minimum income tax for the year 5616 amounts to Euro for single and 11232 Euro for couples. For incomes that do not exceed 8153 Euro for single and 16307 Euros for the spouses , there is a proportional tax at the rate of 22. 9 %.

INCOME TAX FOR INDIVIDUALS Next, the tax is levied on a progressive scale up revenues in the 120041 Euros for single and 240083 euros for those who are married. Revenues that exceed this level are taxed at a maximum rate of 51 %. There are tax benefits for children , age benefits , benefits in extraordinary circumstances (illness, accident). For example, individuals who have reached the age of 64, the non-taxable minimum is increased to Euro 3700. Individuals who have a plot of land , income tax will be charged with Euro 4750.

If you want to live in a prosperous European country where higher education is free, even for international students, while the German pay taxes, and sleep well. Thank you for attention.