An individual pays taxes as a single tax payer. During the year his taxable income totaled EUR
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Question:
An individual pays taxes as a single tax payer. During the year his taxable income totaled EUR 6,000. Applying the following rates, calculate his tax bill and average tax rate.
Taxable Income (EUR) | Tax rate (%) | |
Over | Up to | |
0 | 5,000 | 15 |
5,000 | 17,000 | 20 |
17,000 | 50,000 | 25 |
50,000 | 120,000 | 28 |
120,000 | 32 | |
Using the following rates, calculate his tax bill and average tax rate.
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