Labor & Taxes
Miranda Sarmento guarantees that measures announced by Montenegro will not unbalance public accounts
The Finance Minister confirmed an 800 million euro package consisting of IRS tax reductions (400 million) and an extraordinary supplement for pensioners (400 million). The IRS cuts will be reflected in payroll withholding starting in November for income up to the sixth tax bracket, while the pension supplement—covering pensions up to 1,611.13 euros—will be paid as a single installment with the December pension.
Why it mattersIf you are a taxpayer, you will see a reduction in your monthly income tax (IRS) withholdings starting in November; if you are a pensioner earning up to 1,611.13 euros, you can expect an extraordinary one-time payment with your December pension.
