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Bulgaria changes in social security base & benefits 2024

Changes in minimum insurance The minimum insurance income depends on the group of economic activities of the insurer. The minimum insurance income becomes BGN 933, and the maximum insurance income becomes BGN 3,750. Changes in sick leave payment The employer cov...

Jan 12, 2024 1 min read
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Angola – Changes in tax rates 2024

Changes in tax rates for employees Effective from 1 January 2024, personal income tax rates are amended for Group A segment incomes. The income earned by employees comes under Group A. The revised personal income tax rates are as follows: [table id=214 responsi...

Jan 12, 2024 1 min read
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Taiwan announces 2024 minimum wage impacting insurance grades for social security contributions

Effective from 1 January 2024, the Ministry of Labor in Taiwan increased the minimum wage amount from TWD 26,400 to TWD 27,470 monthly and from TWD 176 to TWD 183 on an hourly basis. The Ministry of Labor has amended the following insurance tables with respect t...

Jan 12, 2024 1 min read
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Singapore – Central Provident Fund Ceiling Changes

Changes in CPF ordinary wage ceiling Effective from 1st January 2024, CPF Ordinary Wage (OW) ceiling applicable for mandatory CPF contributions in a calendar month has been increased from SGD 6,300 to SGD 6,800 per month. Additional wage ceiling shall continue ...

Jan 12, 2024 1 min read
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Malta revises social security and maternity fund contribution rates for 2024

Changes in social security contribution Following the increase in the minimum wage to € 213.54 per week, Malta's Commissioner for Revenue has published the social security and maternity fund contributions for 2024 tax year. Class 1 categories and rates are ment...

Jan 12, 2024 1 min read
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Ghana revises national daily minimum wage for 2024

Changes in national daily minimum wage In line with Section 113 (1) (a) of the Labour Act, 2003 (Act 651), the National Tripartite Committee has increased the national daily minimum wage from GHS 14.88 to GHS 18.15 effective from 1st January 2024. All establish...

Jan 12, 2024 1 min read
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Turkey announces 2024 payroll parameters

Effective from 1 January 2024, the government of Turkey has increased the Social Security minimum gross wage amount to TRY 20,002.50 and net amount to TRY 17,002.12. The monthly SSI ceiling amount has increased to a gross amount of TRY 150,018.90. Please find th...

Jan 12, 2024 1 min read
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Sweden changes tax and social security rates from 1st Jan 2024

Stay informed about Sweden's 2024 Budget Bill changes: updated tax rates, income brackets, and the removal of reduced employer contributions for young individuals.

Jan 11, 2024 1 min read
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Norway Tax and Social Security Updates 2024: New Rates, Deductions, and Allowances

Explore updates on personal deductions, minimum deductions, new tax rates and brackets, reduced social security contributions, and changes in tax-free allowances.

Jan 4, 2024 2 min read
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Finland revises social security contribution rates

Stay informed about the latest updates in Finland's social security contributions for 2024. Explore changes in pension rates, health insurance contributions, and unemployment insurance rates.

Jan 2, 2024 1 min read
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On-Premise vs Cloud-Based Payroll?

Choosing the Right Payroll Solution for Your Business: On-Premise vs. Cloud-Based

Jan 1, 2024 7 min read
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Costa Rica new brackets of income tax effective from 1 January 2024

Changes in monthly income tax brackets As of January 1st, 2024, new brackets of income tax will be applicable to salary, retirement payments and pensions. The updated brackets and rates were published in Executive Decree No. 44276-H, in the national newspaper La G...

Dec 30, 2023 1 min read
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