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Slovenian Parliament Backs Lower Income Tax to Boost Spending

Slovenian lawmakers voted Friday to lower income taxes for citizens in a move that aims to boost private consumption and competitiveness but has raised questions over the impact on future budget revenue.

Lawmakers voted 45-40 to raise the personal income-tax allowance to 7,500 euros ($8,227) from 3,500 euros by 2025. The top bracket of income tax for top earners will drop to 45% from 50%. The capital gains tax will drop to 25% from 27.5% as well, among other measures.