National tax calculation for individual

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osakeosinko
Viestit: 4
Liittynyt: 24 Huhti 2016, 22:14

National tax calculation for individual

ViestiKirjoittaja osakeosinko » 05 Touko 2016, 19:24

Hi

I do not know well tax amount in term of national tax calculation.

For example

taxable income Tax on lower amount? Tax rate
over €16,700 - € 25,000 €8 6.5%
over €25,000 - € 40,800 €547.5 17.5%

What is the €8, €547.5 ? And what is the calculation of national tax for individuals? Is this deduction amount?

Thank you!


Uitto
Viestit: 113
Liittynyt: 01 Loka 2014, 16:57

Re: National tax calculation for individual

ViestiKirjoittaja Uitto » 15 Touko 2016, 08:44

Hi,

Here is the national tax table https://www.vero.fi/fi-FI/Syventavat_ve ... 2016(38905)

It means that every EUR above 16 700 € is taxed by 6,5 % and the tax from the first 16 700 EUR is 8 EUR.

Same way if you earn more than 25 000 EUR tax from the first 25 000 EUR is 547,50 EUR and then every EUR above the 25 000 tax is 17,5 %.

Did you understand? The centre column means tax amount from the lower limit and last column is tax percent from every EUR above the lower limit.

You must notice that this is just governments tax. You will have to add municipality tax in top of that. Because of so many deductions etc. especially in the lower end (0-20 000 EUR/year) you should calculate total tax percent with this calculator. http://prosentti.vero.fi/VPL2016/Sivut/ ... iedot.aspx


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