Income tax cut will be backdated to January 1

The income tax cut announced in the Budget will be retained and backdated to January 1, as originally planned, a government spokesman as confirmed. The Budget will be moved once more in Parliament on April 8. It will be identical to the Budget presented by the previous administration, except for a tweak to ensure minimum wage earners do not pay income tax. The income tax rate of 35% per cent will be reduced to 32% for people with annual income of less than €60,000. The spokesman confirmed that during the April 8 sitting, Finance Minister Edward Scicluna will not re-read the Budget speech. Instead, he will present the Government’s overall economic vision. Full story in The Times.