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References in periodicals archive ?
"There has been an increase in the past number of budgets in the entry point to the higher rate of tax, so there have been improvements.
"What we would bring forward is a package to help, primarily, the poorest in society by lifting the thresholds for National Insurance but I think it's very sensible to have an ambition to raise the higher rate of tax for middle-income earners."
Personal allowances will increase faster than expected but we'll need to wait until the Scottish your 55 so you'll need Government budget later this year to see if the increases to the income at which we pay the higher rate of tax in Scotland will come into force or whether Scots will find themselves paying even more tax than their English colleagues.
The Commissioner also emphasized the need of educating the employees regarding the demerits of being a non-filer after the implementation of the differential tax scheme, in which non filers are charged a higher rate of tax on various transactions such as bank withdrawals, purchase of cars and property etc.
You'll have to be careful with the options box-ticking, too, if you want to avoid a higher rate of tax - even a car with a list price of under PS40,000 will be eligible for the additional PS310 if its price is pushed over PS40,000 with any extras.
KARACHI -- Pakistan State Oil's (PSO) profit dropped 38% to Rs3.49 billion for the quarter ended December 31, 2017, due to significant decrease in income from other than its core business and higher rate of tax on earnings.
?A new intermediate rate of tax at 21 per cent for anyone earning between PS24,000 and PS44,273 and; ?The higher rate of tax will be increased from 40 per cent to 41 per cent and the top rate from 45 per cent to 46 per cent.
Sir Steve Webb, a former pensions minister who is now director of policy at Royal London, said: "Most people would agree that as people earn more they should pay a higher rate of tax.
The average cost of car insurance is to hit a record high as a higher rate of tax on premiums is to come into effect.
Additionally, the 40% higher rate of tax will only be due on earnings above PS45,000.
With the old system, if the value of a home hit a certain threshold, the buyer would pay a higher rate of tax on the full value of the property, not just on the portion above the limit.
She said her wealth had always been over-estimated and she would be happy to pay a higher rate of tax if it helped stop spending cuts.
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