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New income tax exemptions will save four euros a month for 402,000 people
02 March 2014 @ 17:00

PRESIDENT Mariano Rajoy's pledge to increase the personal allowance for income tax will save workers on the average salary a grand total of 49 euros a year, according to the fiscal authorities' technical service, GESTHA.

Rajoy has agreed that anyone earning 12,000 euros a year or less in gross figures will not have to pay income tax, something he says will cost the public coffers 19.7 million euros a year.

In practice, the new rule will only affect 402,000 people across Spain who earn between the current personal allowance of 11,121.19 euros a year – in force since 2010 - and the increased one of 12,000 euros per annum.


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