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80 sats \ 0 replies \ @supertestnet 15 Oct 2023 \ on: deleted by author bitcoin
I found this bloomberg article helpful: https://archive.ph/WnSNL
If it's correct, the minimum income tax bracket was raised so that no one owes income taxes unless their salary is more than $60,500 per year -- which, according to Bloomberg, is "a fraction of the workforce" in that country.
So not "abolished" entirely but since the majority of taxpayers won't have to pay, it's fair say it was abolished "for them" -- and "for now."
Also from the article:
Sounds just like desperate politics. Cancel taxes, give everyone free money, and let the next guy in line deal with the consequences.