Fiscal
Dependent Allowance
A tax reduction or credit available to taxpayers who financially support dependents such as children or elderly relatives.
Related terms
Effective Tax Rate
The actual percentage of income paid in taxes, calculated by dividing total tax paid by total taxable income. Often lower than the marginal tax rate.
Employer Contributions
Payments made by employers on top of employee salaries to fund social protection schemes. These represent a significant additional cost of employment.
Gross Salary
The total amount of pay before any deductions such as income tax, social security contributions, or pension contributions are removed.