2004 - 2005 Fiscal Act

Policy Field: 
Family & Children
Topic: 
Family Allowances
Country: 
Major Implications of the Reform: 

The '2005 Financial Act' introduced important changes to the previous legislation. First, it reduced and modified income brackets to four groups. Second, it substituted detractions for dependent family members with direct deductions on income, decreasing as income increases (see 'Comments').