the government’s borrowing as of november 30, is a reference rate used in the tax code. Today was set the interest rate 0.27 per cent, which is a hefty drop from last year’s pitch of 0.65%.
The new government borrowing would actually mean a tax rate of 0,306% of the ISK and the endowment insurance next year. But this year introduced a floor of taxation, and today’s lowering of the interest rates for government borrowing do to the floor for the first time used.
In practice, therefore, the tax rate on the ISK and the endowment insurance, the lowest possible, that is to say, 0,375%. It is a reduction from this year’s level of 0.42%.
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