The truth behind better wages in Europe than in Malta.
I read the following article in the Times of Malta;
(http://www.timesofmalta.com/articles/view/20121010/world/italy-pm-monti-announces-surprise-income-tax-cut.440452) and I it is a great idea that in the following budget in Italy, an anti-corruption commissioner will be appointed to address corruption. Another great sign of recovery is that Monti will lower the income tax rate to 22 per cent from 23 per cent for those earning less than 15,000 euros per year, and to 26 per cent from 27 per cent for salaries between 15,001 and 28,000 euros. The top three income tax bands will remain unchanged.
However, not everyone realizes that it is not the amount you earn that matters most, but how much money one has left after the tax is paid. One can compare the rates in Malta at the following link: http://www.ird.gov.mt/services/taxrates.aspx
Of great interest is the following link which I am translating into English: http://economiaefinanza.blogosfere.it/2012/05/tasse-italia-2012-in-italia-le-piu-alte.html
Italy continues to have a negative record as the country with higher taxes.
Let's talk about income taxes, but also taxes on labour - as is clear from Eurostat data - with high taxes and contributions paid by workers and employers.
In Italy, the tax on labour, stands at 42.6%, exceeding by far the EU average which is around 34%. Rates close to Italy are Belgium (42.5%), France (41%) and Austria (40.5%).
The tax, however, is more favourable in Malta (21.7%), Portugal (23.4%), Bulgaria (24.4%) and Great Britain (25.7%).
The tax burden on Italian companies - says Pmi. it - is stable at 31.4% in 2012, but taxes are by far the most expensive in Europe.
The VAT, in Italy, is 21% and has increased throughout Europe. The countries with the highest VAT are Hungary (27%), Denmark and Sweden (25%). Followed by Romania (24%), Greece, Spain, Poland, Portugal and Finland (23%), and finally Luxembourg (15%) and Cyprus (17%). (In Malta the rate is at 18%)
In recent years, Italy has also considerably raised the tax burden on incomes, from 45.6% in 2011 to 47.3% in 2012, the European average is 38.1% and 43, 2%. For the countries which use Euro
Countries with the highest taxes are Sweden (56.6%), Denmark (55.4%), Belgium (53.7%), Spain and the Netherlands (52%), Austria and the UK (50%). The more favourable tax regimes are those of Bulgaria (10%), the Czech Republic and Lithuania (15%), Romania (16%) and Slovakia (19%).
In Malta, it is (21.7%)
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