The individual income tax ranges from 0% to 55%. Income tax is calculated according to progressive rates.
Gross Annual Income | Tax Rate (%) |
---|---|
0 - 11,000 | 0% |
11,001 - 18,000 | 20% |
18,001 - 31,000 | 35% |
31,001 - 60,000 | 42% |
60,001 - 90,000 | 48% |
90,001 - 1,000,000 | 50% |
Above 1,000,000 | 55% |
The employer cost is generally estimated at 29.94% + employers tax / work allowance.