Bill 26 has received first reading on July 24, 2014 and includes tax measures as follows:

  • Increment of individual income tax on taxable incomes above $150,000
  • Reduction of the taxable income threshold due to 13.16% tax rate to $220,000 instead of $514,090
  • Insert 12.16% new tax rate on taxable income between $150,000 and $220,000

The new income thresholds will not be adjusted each year due to inflation.