The Ministry of Finance has launched a new tax calculator as mentioned earlier this week or salary calculator that takes into account the changes in the PIT tax that came into force on 1 July with Lower Tax reform a.k.a. Polish Deal 2.0.
Calculator for comparing amount
The calculator is designed to help you compare the amount of remuneration before and after the implementation of the new regulations.
Artur Soboń, deputy finance minister, informed about the launch of the calculator.
– Promised is that you can calculate your salary yourself. More functions in the following weeks – wrote the deputy minister on Twitter.
For now, the calculator can be used by those taxpayers who are employed under employment contracts or mandate contracts and do not have several sources of income.
The available version of the calculator takes into account the 30-fold limit when calculating social contributions, common limits for reliefs exempting part of the tax revenue and copyright costs, and the mechanism of reducing the health contribution to the advance payment. When calculating the amount of remuneration, only individual and child settlement can be included in it.
Also includes child allowances
According to the announcements of the Ministry of Finance, new functions are to be introduced in the coming weeks. From July 8, the calculator will be extended with a variant in which a person is employed simultaneously on two contracts – one for work and one contract.
A week later, pensioners will check the net benefits, and from July 22, it will be possible to check the net salaries in the event that we settle accounts with the spouse.
In the last, fifth phase, which will start on August 5, entrepreneurs will also calculate their income. In this version, the calculator is also to help you compare the charges depending on the selected form of taxation.
The Ministry of Finance stipulates that the calculators are for reference only and cannot constitute the basis for the actual calculation of wages and social benefits.
– The real situation of taxpayers may differ from the adopted assumptions, and each discrepancy should be analysed individually – emphasises the Ministry of Finance.
The calculator is available on government website.