Government halves IRS withholding tax for November and Christmas bonus

The Ministry of Finance has decided to reduce income tax withholding at source by 50% on salaries and pensions paid in November, as well as on the Christmas bonus paid at the same time. According to the government, this allows households to benefit immediately from the reduction without waiting for the annual tax adjustment next year. December will see a return to the currently active withholding tables, and the formal executive order will be published shortly.