Time extension for approval of pseudo final levy for higher incomes

The State Secretary for Finance has updated a 2013 ruling concerning deductions at source. The amendment of the ruling is associated with the time extension having been granted where the pseudo final levy (“crisis tax”) for higher incomes is concerned.

The approval of the pseudo final levy for higher incomes 2013 as per the previous ruling has now been extended by a further year. The approval has done away with the need to factor into the equation any wages earned before 2013 in respect of which tax was levied in 2013 where it concerns the calculation of the outstanding pseudo final levy for higher wages.