65 is as follows: For the part of income up to €19,645: 36.25%; tax on €19,645 is €7,121 For the part of income between €19,646 and €33,363: 42%; tax on €13,718 is €5,761 For the part of income between €33,364 and €56,531: 42%; tax on €23,168 is €9,731 On all income over €56,531: 52% For 2015, the total tax on income (income tax plus mandatory pension, social security and state funded medical care payments, all of which are a percentage of income up to a maximum) for people under the age 65 is as follows: For the part of income up to €19,822: 36.50%; tax on €19,822 is €7,235 For the part of income between €19,823 and €33,589: 42%; tax on €13,767 is €5,782 For the part of income between €33,590 and €57,585: 42%; tax on €23,996 is €10,078 On all income over €57,585: 52% For 2016, the total tax on income (income tax plus mandatory pension, social security and state funded medical care payments, all of which are a percentage of income up to a maximum) for people under the age 65 is as follows: For the part of income up to €19,922: 36.55%; tax on €19,922 is €7,281 For the part of income between €19,923 and €33,715: 40.40%; tax on €13,793 is €5,572 For the part of income between €33,716 and €66,421: 40.40%; tax on €32,706 is €13,213 On all income over €66,421: 52% In 2018, the tax brackets for income in Box 1 for persons below the official retirement age were: In 2019, the tax brackets for income in Box 1 for persons below the official retirement age are: In 2020, the tax rates were simplified to two rates: The lower rate was slightly reduced in 2021 and will continue to decrease annually until 2024. Besides the tax brackets there are income dependent deductions for incomes up to €90,710. Which decreases the effective tax rate. Under certain conditions a life annuity is treated as a pension: premiums are deducted from the income, the benefits are taxed, and the scheme is not counted as asset in box 3. The conditions concern the type of life annuity and the necessity, based on the principle that the higher the income is, the more pension plus life annuity one needs to build up for the future, up to a maximum. For the value of an owner-occupied dwelling and for mortgage debt