South Africa -Subsistence & Travel Allowance Thresholds March 2024

South African Revenue Services (SARS) issued updated guide for employers in respect of allowances. Effective from 1st March 2024, the thresholds for exemption on allowances are mentioned below. Changes in thresholds for Subsistence Allowance When the employee spe...

Mar 15, 2024 1 min read

Introduction of end of service benefit for foreigners, Taminat system, separate unemployment insu...

The social insurance organization (SIO) of Bahrain announced through circular no. (2) of 2024 a new electronic system “Taminat”. The procedure of accessing the new system is updated in the circular. The SIO also announced separating the monthly insurance contrib...

Mar 5, 2024 2 min read

United Kingdom – Changes in National Minimum Wage April 2024

The hourly rate for the minimum wage depending on workers’ age or apprenticeship, changes on 1st April every year. From 1st April 2024, workers’ national living wage and apprentice’s national minimum wage are as follows. Ple...

Mar 4, 2024 1 min read

Romania – Changes in Social security & tax effective Jan 2024

The fiscal code has been amended through several normative acts. Effective 1st January 2024, the changes below, are applicable for health insurance as per GEO 115/2023 & 296/2023. Changes in earnings subject to health insurance (CASS) Sick leave/medical a...

Feb 28, 2024 3 min read

Egypt – Parliament approves changes in tax law effective Mar 2024

The Egyptian parliament on 22nd February 2024, in official gazette approved below changes in the income tax law no. 91 of 2005. These are effective from 1st March 2024. Changes in tax table The threshold for the tax-exempt bracket for annual income has been raise...

Feb 27, 2024 1 min read

Oman Announces New Social Security Law

Effective from 01 January 2024, the Omani government through royal decree No. 52/2023 issued the new social security law which replaces existing social security law. Following table provides the new rates along with monthly ceiling amounts for the different insu...

Feb 19, 2024 1 min read

Kenya – Court upholds affordable housing levy on 26 Jan 2024

Changes in application of affordable housing levy The court of appeal on 26th January 2024 rejected the govt. appeal to continue collecting AHL. The matter is in litigation until the hearing and determination of substantive appeal. The employers are not obliged...

Feb 12, 2024 1 min read

Kenya- 2024 National Social Security Fund Changes

Discover Kenya's 2024 NSSF changes: new earning limits of KES 7,000 (lower) and KES 36,000 (upper). Explore the impact on pension contributions in this brief update.

Jan 31, 2024 1 min read

Ghana revises the minimum and maximum insurable earnings

Changes in minimum and maximum insurable earnings The Social Security and National Insurance Trust (SSNIT), in consultation with the National Pension Regulatory Authority (NPR) has increased the maximum insurable earning for 2024 from GHS 42,000 to GHS 52,000. ...

Jan 23, 2024 1 min read

Ghana amends income tax rates for resident individuals

Amendment in income tax rates The Income Tax, 2015 (Act 896) has been amended through the Income Tax (Amendment) (No.2) Act,2003 (Act No.1111) revising the rates of income tax for resident individuals. The table below shows the annual chargeable income and rate...

Jan 18, 2024 1 min read

United Kingdom – Changes in national insurance contributions from 6th January 2024

Changes in national insurance contributions rates Class 1 National Insurance Contribution rates change from 12% to 10% for Category A, F, H, M and V. This applies to earnings from primary threshold till upper earnings limit. Class 1 National Insurance Contribut...

Jan 17, 2024 1 min read

Portugal – Changes in tax for 2024

Personal Income tax (PIT) for youth The exemption on tax for young people has been increased in 2024. 100% exemption in the first year, with a limit of 40 times the value of the IAS 75% in the second year, with a limit of 30 times the value of the IAS 5...

Jan 15, 2024 3 min read