Income tax is calculated based on a tax rate band. The individual income tax is 20% until a certain level of income and 40% for any amount above that income. 20% is known as the standard band rate whereas the 40% is known as the higher band rate. The amount of income at the different tax rate bands is dependent on marital status.
Income tax is calculated by:
The employer cost is generally estimated at 11.05% of the employee salary.
Standard working hours are 8 hours per day, 40 hours per week. The standard workweek is from Monday to Friday. The maximum hours are 48 hours per week.
Overtime payment is not mandatory. Hours outside of standard work hours are considered overtime.
The maximum average weekly working hours (including overtime) over a 4 month period cannot exceed 48 hours.
There is no statutory overtime pay, and overtime compensation is based on the employment agreement. Employers can provide compensation financially or provide paid time off at a future date.