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    No tax credit, but instead reduced unemployment insurance premiums

    It was recently announced that the outgoing cabinet plans on repealing the Job-Related Investment Tax Credit (BIK). In its place, the cabinet wants to implement a reduction in the Awf premiums as of August 1, 2021.

    Illegal

    The BIK would have allowed organizations to deduct a percentage of their investments from due payroll tax and national insurance contributions. However, the European Commission has stated that the respective tax credit may be illegal government support. In response, the cabinet has decided to use the budget originally reserved for the BIK to instead reduce the premium for unemployment insurance, called the Awf premium. Per employee, an employer pays a set percentage of an employee’s wages as an Awf premium. There are two types of Awf premium: a low premium and a high premium. The low premium applicable to the wages of employees with a permanent contract will be reduced from 2.7% to 0.34% of the employee’s wages. The high premium applicable to the wages of all other employees will be reduced from 7.7% to 5.34%. This way, the statutory difference of 5 percentage point between the low and high premiums will be maintained. The reduction will save employers a lot of money on premiums!

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