Cutting the tax wedge, this month for millions of workers the paycheck will be more substantial
The July salary will arrive in a few days and for many employees it will be much more substantial than in the past thanks to the cut the tax wedge wanted by the government Melons with the approval of Work decree. The measure will in fact become effective from July and will remain valid until the end of 2023. Then it will be up to the Government to find the resources to make the structural cut despite the great difficulties.
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At the beginning of the year there was a cut the tax wedge 3% for income from work up to 25,000 euros a year and 2% for earnings between 25,000 and 35,000 euros. From July 1, an increase was triggered which brought the cut to 7% for incomes up to 25 thousand euros and al 6% for those up to 35 thousand euros. This leads to an increase in net payroll starting this month.
Cut the tax wedge, by how much salary increases in July
The increase in payroll depends on the gross annual salary of the individual employee but thanks to a calculation by income range it is possible to get an idea of how much salary will rise in July:
for those who earn 10,000 euros a year, around 25 euros net more will arrive in their paychecks (7% cut) for those who earn 15,000 euros a year, around 35 euros net more will arrive in their paychecks (7% cut) for those who earn 20,000 euros a year, around 45 euros net more will arrive in their paychecks (7% cut) for those who earn 25,000 euros a year, around 50 euros net more will arrive in their paychecks (7% cut) for those who earn 30 thousand euros a year, around 60 euros net more will arrive in the paycheck (6% cut) for those who earn 35 thousand euros a year, around 65 euros net more will arrive in the paycheck (6% cut) Subscribe to the newsletter