The corona crisis has led to a wage tax reduction for all employees.
In order to raise the spending capacity of their citizens during the corona-crisis, the National Council has decided to implement the planned tax reduction earlier, than initially planned – therefore, the decrease of the “starting taxation rate” from 25% to 20% applies from January 2020 onwards (backdated) and is valid throughout 2020. With this regulation, the tax reduction per employee can be up to € 350,00 per year.
Our payroll team has already considered the taxation reduction during August payroll.