The BE, Livre, and PCP voted against.
The initiative that proposes a reduction in tax rates from the first to the eighth bracket will now be debated in detail.
According to the executive’s proposal, the rate for the first bracket drops from 13% to 12.5%, the second decreases from 16.5% to 16%, the third lowers from 22% to 21.5%, the fourth goes down from 25% to 24.4%, the fifth declines from the current 32% to 31.4%, the sixth reduces from 35.5% to 34.9%, the seventh goes from 43.5% to 43.1%, and finally, the eighth falls from 45% to 44.6%. The rate for the highest income bracket remains at 48%.
Although there is no change in this top tier, the IRS reduction now proposed by the government covers all taxpayers required to pay taxes because of the progressive rule of the tax table. The reduction in previous brackets also allows taxpayers in the new bracket to benefit from the relief.
