Budget 2022 | Income tax lowered for overtime and part-time work

The tax-rate for part-time income will be reduced to 10% from 15%.

The measure was one of the Labour Party’s electoral proposals for the 2017 general election.

Finance minister Clyde Caruana said that around 23,000 workers will be benefitting from the measure, which will cost government €5 million.

Workers earning a basic salary of up to €20,000 and who are not in a managerial position, will benefit from a flat 15% tax rate on the first €10,000 they receive from overtime work.

Over 30,000 workers will be benefitting from the measure, which is expected to cost €6 million.