Labor

Tax and labor costs impact on payroll Tax impact on salary Employer Employee –9% (Social Security) –13% (Government Pension Fund) or –0.90% (basic tax for work accidents insurance, certain industries)plus a % based on each industry) –11-12% ( Private pension Fund)-Income Tax bracket Other indirect costs (Salary benefits) Employer 9.72% – 30 days salary (for each …

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Expatriates contracts are subject to certain limits settled down by law and should comply with an specific procedure. Limits.- It is an obligation of the local company which hires foreign personnel to match with the limitations imposed by law as follows:  Number of foreign workers : Local company will only be able to hire foreign personnel up …

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