Low income affects taxpayers

THE Mallorca tax authority has published the final income tax figures for 2021. According to this, around a third of all taxpayers in the Balearic Islands earned less than €12,000 in the second year of the coronavirus pandemic. In the previous year it was around 43 per cent.

Specifically, the tax office gave the following figures for taxpayers in 2021:

57,238 people earned less than €1,500, around 10 per cent.

77,114 people earned between €1,500 and €6,000, about 17 per cent.

63,991 people stated income between €6,000 and €12,000, about 11 per cent.

147,000 people earned between €12,000 and €21,000, around 25 per cent.

91,844 people indicated income between €21,000 and €30,000, about 16 per cent.

The number of people who earned between €30,000 and €60,000 was 103,583, about 18 per cent.

25,606 people earned between €60,000 and €150,000 in 2021, around 4 per cent.

4,311 people earned between €150,000 and €600,000, which accounts for a share of 0.7 per cent.

427 people stated an income of over €600,000, about 0.07 per cent.

The figures indicate that the higher income groups hardly suffered from the pandemic or recovered very quickly.

Compared to the 2019 tax year, the figures in the upper categories are almost identical to those in 2021.

Compared to the previous year, when the country was virtually at a standstill for months, the figures in these salary classes improved slightly.