Tax agency has developed an online tool to calculate withholdings for 2016 IRPF

The tax agency has made available for taxpayers on their website an online tool for calculating the new withholding for income tax in 2016.

With this tool, taxpayers will be able to calculate the amount and type of retention in their payroll according to the fees that they will receive this year and their personal and working conditions.

In addition, on January 1 has entered into force a new rate of income tax. These sections and a General scale types will be lower and the minimum will increase. All sections of the tax will be cut between half a point and a point with respect to the current rate.

Furthermore, according to the technicians of the Ministry of Finance, this reduction of withholdings on income tax will result in a saving of 78,11 euros per year on average for all taxpayers.