Government considering cancelling 400 € income tax rebate

Government considering cancelling 400 € income tax rebate
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By h.b. - Jun 23, 2009 - 7:03 AM
The change could well be introduced next year

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The Government is reported to be considering cancelling the 400 € income tax rebate it has been giving to employed and self-employed workers, as well as pensioners, for the past year.

The news was given by the Secretary of State for Hacienda and Budgets, Carlos Ocaña, who commented that all options are open. He confirmed the Government was not planning any tax changes this year, but it would be revising the fiscal framework in 2010, admitting that the public accounts are worse than expected.

Much publicity surrounded the launch of the 400 € payment when announced by Royal Decree on April 19 last year as part of the measures designed to reactivate the economy. At the time the idea was described as permanent.

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