The government this Monday released the new IRS tables that will apply to income from dependent employment and pensions in the first half of 2023, with taxpayers now able to calculate the monthly amount to be withheld, taking into account aspects such as salary and occupational status. – and family situation.
It should be remembered that next year will be marked by two moments in this regard, with the entry into force of new tables in January, to exempt the EUR 55 increase in the national minimum wage, and the arrival of a new retention model in July , which promises to provide an increase in net pay when gross pay rises in a given month. The new model has retroactive effect.
According to Order No. 14043-A/2022, published today in Diary of the Republic, the tables made public “include the update of the withholding tax exemption limit to 762 euros per month, by applying the subsistence minimum, as well as updates of the limits and withholding taxes”. In the 2022 tables currently in force, the withholding starts at 710 euros gross.
Simulations conducted by the Treasury Department indicate that the changes arriving in January will cause a $1,350 salary to pay less than $15 to the IRS.
THE RETENTION TABLES:
Mariana Coelho Dias is a journalist for Dinheiro Vivo
Source: DN
