taxation

taxation

Income tax to have just 2 bands the zero percent and max 15percent . This is an incentive to work.and increase propensity to spend ...Increasing income on vat and consequently income tax

Points

Income is a disincentive to work more and an incentive to laze about and underdeclared. Less emphases on direct taxation will increase declaration of income. Also, it will help the more efficient labour force (with a propensity to spend) since the less efficient will not declare anyway and continue their free ride.

The tax band between EUR20,000 - 60,000, isn`t good as the majority of the workers fall within that range, and especially if they are taxed on single rates, they`re paying too much income tax. The gap should be narrowed and with less tax rates.

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