Permanent: 90% of average daily wages. Permanent Partial: Proportionate to degree of disability.

Size: px
Start display at page:

Download "Permanent: 90% of average daily wages. Permanent Partial: Proportionate to degree of disability."

Transcription

1 Prepared by Hong Leong Assurance. I SUMMARY Social Security Eligibility All employees as of age 18. Retirement Age Contributions Retirement Disability 55M/F SOCSO (Social Security Act): employer 1.75% and employee 0.5% of covered earnings. EPF (Employee s Provident Fund): employer 13% (max.), employee 11% (max.) of employee s earnings. EPF contributions with interest. Temporary: 80% of average daily wages. Permanent: 90% of average daily wages. Permanent Partial: Proportionate to degree of disability. Death Medical benefits Survivors pension: 60% of the actual or potential disability person of the deceased person. Medical care in state appointed hospitals and clinics are available to all residents of Malaysia. Employee Reference Manual Swiss Life Network

2 Private Benefit Plans Eligibility All regular full-time employees under age 60. Retirement Age Contributions Retirement Disability Death Medical 55M/F Normally not contributory for the employee. Supplementary pensions are not popular as it is not perceived as an attraction for staff recruitment. If available, normally lump sum is paid. Usually lump sum. Varies between 36 and 60 monthly salaries. Personal accident cover is provided in most cases. Same benefit as above. Normally same as under disability. Provided for out-patient medical care including hospitalisation. Vesting Partial vested right to benefits only after five years of service, full vesting only after 15 years. Taxation Employer Contributions Social security: Deductible. Private benefit plan: Deductible if policy is purchased to cover the loss of profits resulting from disability or death of an employee. Employee Contributions Social security: Deductible. Private benefit plans: Normally non-contributory. Tax Approved Retirement Scheme. Social security: Not taxed. Private benefit plans: Normally taxed. Employee Reference Manual Swiss Life Network

3 II INTRODUCTION Country Statistics Population/ growth rate Age structure 0-14 years: years: years: years: 65 years and over: GDP purchasing power parity/ Real growth rate Agriculture Industry Services Unemployment rate Inflation rate Annual gross salary* Semi-professionals Professionals Management Legal minimum wage Exchange rate on February 27, 2015 Currency: Malaysian Ringgit 30,073,353 (July 2014 est.) / 1.47% (2014 est.) 28.8% 16.9% 41.2% 7.6% 5.3% (2014 est.) USD 525 billion (2013 est.) 4.7% (2013 est.) 11.2% 40.6% 48.1% (2013 est.) 3.1% (2013 est.) 2.2% (2013 est.) in MYR General: 26,560 Skilled: 41,521 Junior: 64,910 Senior: 101,475 Lower: 158,636 Upper: 253,249 Monthly minimum wage for the private sector of MYR900 (for the peninsular states) and MYR 800 (for Sabah, Sarawak and Labuan) as per January MYR = USD 1 MYR = EUR *Source: Mercer s International Geographic Salary Differentials, Edition 2015 Legislation and Insurance Market Update in Brief The Financial Services Act 2013 and Islamic Financial Services Act 2013 are now in force. They consolidate and update governing insurance legislation and repeal the Insurance Act 1996 (Act 553) and Takaful Act 1984 (Act 312). Furthermore, The Personal Data Protection Act 2010 came into force after some delay. The Life Insurance Association of Malaysia (LIAM) is developing a standard Code of Practice for insurance company submissions to the government personal data protection (PDP) department. Employee Reference Manual Swiss Life Network

4 III SOCIAL SECURITY Background Information The insurance market in Malaysia is governed by the Financial Services Act The existing schemes in Malaysia may be classified into the following groups: Employees Provident Fund (EPF) Social Security Organisation (SOCSO) Work Compensation Insurance Since Dec 2012 the Private Retirement Scheme (PRS) has been introduced. Employees Provident Fund (EPF) The primary objective of the Employees Provident Fund Act is to provide old age benefits. It covers all employees with some exceptions. At the end of 2007 the Employees Provident Fund (EPF) introduced two new changes under its Beyond Savings initiative to help improve the employment prospects of members above the age of 55 and to enhance financial security of all members upon retirement. On February 1, 2008, the liability period for employers and employees to contribute to the EPF was extended from age 55 to age 75. In addition, members should have a minimum amount of basic savings at various age levels to help them accumulate savings of at least MYR 120,000 by the time they have reached age 55. For employees in the age group 55 and above, contributions are mandatory but the statutory contribution rates have been halved to promote employability for this group. Nevertheless, this group of members and their employers can choose to contribute more than the statutory rate if they so wish. The lower rates of contribution, however, do not apply to employees who are already above 55 and are currently working, and who have not made an Age 55 Withdrawal. These workers and their employers continue to make contributions at the existing rate (23%) until an Age 55 Withdrawal is made. Another key change under the Beyond Savings initiative is the implementation of basic savings which is the amount to be put aside progressively in Account 1 at various pre-determined age levels so as to enable members to accumulate a minimum savings of MYR 120,000 upon reaching age 55. In relation to this change, members are allowed to invest not more than 20% of savings in excess of the basic savings amount in Account 1 in products through approved investment institutions. Investment can be made once every three months at a minimum sum of MYR 1,000. Social Security Organisation (SOCSO) The Employees Social Security Act of 1969 covers organisations employing 5 or more persons who are earning MYR 2,000 or less per month. It is administered by SOCSO, a statutory body. Once a member, always a member. The program under this act covers the contingencies of employment injury and disability, including occupational diseases. Employee Reference Manual Swiss Life Network

5 Eligibility All employees can begin to participate in EPF or SOCSO at age 18. SOCSO All employees initially earning MYR 2,000 per month or below are required by law to be covered by Social Security and remain members throughout their working lifetime. Voluntary coverage is possible for persons earning over MYR 2,000 upon agreement between the employer and the employee. EPF Membership of the EPF is compulsory for all private sector employees and for non-pensionable public sector employees. Those who can opt to contribute are: self-employed domestic servants foreign employees pensionable public sector employees persons detained in any prison, place of detention, mental hospital, rehabilitation centre or leper settlement out-workers as defined in Section 3 of the Workmen's Compensation Act Workmen s Compensation Insurance All employees (not covered under SOCSO) whose earnings are less than MYR 500 per month, as well as all manual workers irrespective of their wages, are covered under the Workers Compensation Ordinance Contributions Contributions (EPF) Currently the total maximum contribution is 24% of salary (employer 13%, employee 11%). Employer contributions for permanent residents are as follows: Employees 55 years of age or older - 6% of wages (for contributors earning above MYR 5,000). Employees 55 years of age or older 6.5% of wages (for contributors earning less than MYR 5,000). Employees below 55 years of age - 12% of wages (for contributors earning above MYR 5,000). Employees below 55 years of age - 13% of wages (for contributors earning less than MYR 5,000). Employee contributions are as follows: Employees 55 years of age or older - 5.5% of wages Employees below 55 years of age - 11% of wages. Self-employed workers can contribute (irregularly) any amount between MYR 50 and MYR 5,000 per month. A 5% matching contribution from the government up to a maximum of MYR 60 per annum applies until December 31, Contributions (SOCSO) Contributions towards SOCSO are shared by employers and employees as follows: Employer: 1.75% of covered earnings Employee: 0.5% of covered earnings Employee Reference Manual Swiss Life Network

6 Retirement Retirement Age The normal retirement age is 55 for men and women. Effective from 1 July 2013, however, an employer may not retire an employee before 60 as mandated under the Minimum Retirement Age Act EPF members may retire before age 60 on a voluntary basis at the end of a service contract or collective agreement. Retirement may also be deferred to 75, with member contributions continuing at half the standard rate previously applying. Qualifying Conditions EPF contributions with interest may be withdrawn in the following cases: At age 55 Upon death or total and permanent disability Upon leaving Malaysia and Singapore permanently (EPF) Retirement benefits are provided only by the EPF. Effective January 1, 2007, the account is divided into parts, namely Account I and Account II. Employee contributions by the employer will be credited to the two accounts in the following ratio: Account I 70% of monthly contribution Account II 30% of monthly contribution Account I Contributions accumulated in this account may only be withdrawn for retirement purposes, normally at age 55, at which time the balance in Account I together with any balance in Account II may be withdrawn under one of the following conditions: as a lump sum as periodic payments by a combination of lump sum and periodic payments by withdrawing the yearly dividend If the insured has become incapacitated, left the country or died the payment will be made to the nominee / heir. Account II Savings in this account are meant to help the insured to prepare early for a comfortable retirement. Withdrawals are allowed under the following conditions: having attained the age of 50 home ownership: down payment for the insured s first house home ownership: settling the balance of insured s housing loan of first house financing education for insured and that of their children medical expenses for insured and that of their children Employee Reference Manual Swiss Life Network

7 Disability Qualifying Conditions SOCSO: A disability pension is paid to persons who have made at least 24 months of contributions in the last 40 months, or who have made contributions in at least two-thirds of the months since entry into insurance, with a minimum of 24 months. A reduced pension is paid to persons who have made contributions in only one-third of the months, but with at least 24 months in total. A member who is not eligible for a pension will receive an invalidity grant equal to the amount of contributions paid plus interest. EPF: a member who is permanently disabled can withdraw all of his/her EPF balance. The SOCSO invalidity pension scheme covers employees for non-work related permanent disability or death. The disability pension paid is equal to 50% to up to 65% of monthly average earnings, plus 1% for each 12 months of contributions over a period of 24 months. The maximum pension payable is equal to 65% of earnings, with a minimum pension of MYR 250 per month. If a reduced pension is paid, the maximum is 50% of the monthly average earnings, and the minimum is MYR 250 per month. A constant attendance supplement is also payable, and amounts to 40% of the pension, up to a maximum of MYR 500 per month. The EPF benefit is a lump sum payment equal to the total employee and employer contributions plus compound interest. An additional permanent disability benefit is a flat amount of MYR 5,000. Death Qualifying Conditions SOCSO: Death benefits are paid in the form of a survivor pension to the widow of the deceased member of the SOCSO s Invalidity Pension Scheme whose death occurred whilst in receipt of a disability pension or before the age of 55. EPF: Lump sum survivor benefits are paid to the nominated survivors or legal heirs of a deceased member of EPF. The SOCSO survivor pension amounts to 65% of the actual or potential disability pension of the deceased person. Each eligible orphan under the age of 21 receives benefits equal to 40% of the actual or potential disability pension of the deceased person. If there is no widow, then this amount is increased to 60% of the pension. The maximum total survivor pension must not exceed 100% of the actual or potential disability pension of the deceased person. A funeral grant of MYR 1,500 or actual cost of funeral whichever is lower is also payable. The EPF benefit is a lump sum amounting to the total employee and employer contributions plus compound interest. Additional death benefits amount to a flat rate of MYR 2,500. Employee Reference Manual Swiss Life Network

8 Sickness Qualifying Conditions Employees are entitled to paid sick leaves if certified by a recognised medical practitioner. The number of days granted depends on the length of service. Under the Employment Act, an employee is entitled to minimum paid sick leave (on full pay) of 14 days per year if service is less than two years, 18 days if service is between two and five years and 22 days thereafter. If the employee is hospitalised (or deemed ill enough to be hospitalised), he/she is entitled to a maximum of 60 days leave. Medical/Health Qualifying Conditions Medical benefits are available to all residents of Malaysia. Employees who meet with an accident or suffer from any occupational disease are entitled to free treatment at a SOCSO Panel Clinic or at any government hospital or clinic. In the event of a serious injury, the treatment should be at the nearest government hospital. The employee is eligible for second class ward treatment at the hospital if inpatient treatment is required. Specialist treatment, if required, will also be provided at a government hospital. Medical care in State appointed hospitals and clinics are available to residents at heavily subsidised rates or free of charge, with prescription charges being MYR 1 per prescription. However, as accommodation and medical services in such establishments are limited and costs in the growing number of private hospitals are substantial, it is common for larger and foreign employers to have a private medical plan for their employees. Work Injury Qualifying Conditions The SOCSO provides coverage to employees for work-related death and disability benefits. There are no minimum qualifying conditions for eligibility for such benefits. The following main benefits are payable under work injury: Temporary Disability: 80% of average daily wages. Minimum: MYR 10 per day. Maximum: MYR per day. Permanent Total Disability: 90% of average daily wages. Minimum MYR 10 per day. Maximum: MYR per day. Permanent and Partial Disability: Proportionate to the percentage loss of earning capacity. Dependants : Employee Reference Manual Swiss Life Network

9 Widow: 60% of daily rate of permanent total disability benefit of deceased person. Child: 40% of the daily rate of permanent total disability benefit for each child. If the total dependants benefit exceeds the daily rate of permanent total disability benefit, each dependant s share shall be proportionately reduced so as not to exceed 100% of the permanent total disability benefit. If there is no widow or the widow remarries or dies, each child is entitled to 60% of the daily rate. If there is more than one child, the amount payable shall be equally divided between them. Workmen s Compensation Insurance: The maximum benefits for death and total permanent disability are MYR 18,000 and MYR 20,000 respectively. Some benefits for other disabilities are also available. Unemployment There is no provision for entitlement to unemployment benefits. Other Maternity Every female employee is entitled to maternity leave and full pay for a period of at least 60 consecutive days, for up to five natural children. To be eligible for maternity benefits, she must be employed for a period of not less than 90 days during the nine months immediately preceding her confinement. Taxation Contributions are tax-deductible for the employer and the employee. from SOCSO and EPF are tax-free. Other Information Reciprocal Social Security Agreements None known. Employee Reference Manual Swiss Life Network

10 IV PRIVATE BENEFIT PLANS Background Information The usual group insurance provided to employees is a combination of group term life and group hospital and surgical, or group personal accident and group hospital and surgical. End of 2012 Malaysia implemented the voluntary Private Retirement Scheme (PRS), a defined contribution retirement savings program open to all Malaysian residents aged 18 or older. Eligibility A typical group benefit program in Malaysia covers all regular, full-time and permanent employees under age 60. Contributions Contributions are usually paid by the employer. Retirement Retirement Age Normal retirement: Early retirement: Late retirement: 55M/F 50M/45F 60M/F Similarly to the EPF, contributions in the PRS are split into two types of sub-accounts (they are lumped together for investment purposes but the separation is to identify the withdrawal status), 70% in Sub-Account A and 30% in Sub- Account B. The entire fund in the PRS can be withdrawn upon reaching retirement age, death or emigration. Partial withdrawal for pre-retirement (prior to reaching 55 years of age) is allowed as well, but this can be only from Sub-Account B once a year and will incur an 8% tax penalty on the withdrawal amount.. Contribution Both employees and employers are permitted to contribute to the PRS and there are no specific requirements for contribution amounts or intervals at which they are made. Death and Disability Group Term Life The sum assured varies from 24 to 60 times monthly salary, although 36 times seem to be commonly popular. Death and total permanent disability are covered. Employee Reference Manual Swiss Life Network

11 Group Personal Accident Compensation is provided in the event of injury/disability due to accident as a rider to Group Life insurance. Sum assured ranges from 24 to 60 times monthly salary, although 36 times seem to be commonly popular. Medical/Health Private medical plans usually cover clinical and hospitalised medical care and prescription charges. Maternity and dental benefits are not common. It is usual to extend medical benefits to dependants, but the employee pays one-half of the costs for this. Employees are generally covered free of charge. It is common practice to provide different levels of benefits to different categories of employees. Other None. Taxation Contributions and Employer contributions to SOCSO are tax deductible and are not considered to be taxable income to the employee. The benefit on disability is tax-free. In addition to the 12% employer contribution to the EPF, the employer may pay another 7% of salary. That part is also tax deductible and is not considered taxable income to the employee. If the policy is taken out by the employer to cover loss of profits due to the death or total and permanent disability of an employee, the premiums are tax-deductible, but the benefit becomes taxable. However, if the employer decides to pay an amount out of their own funds to the family on an employee s death as a gratuity, this gratuity amount is taxdeductible. Employee contributions to SOCSO are tax deductible. EPF contributions are tax deductible up to MYR 5,000. All businesses located outside the Free Trade Zone are subject to a 5% Service Tax on all insurance premiums paid by the companies. As a rule, SOCSO and EPF benefits are tax-free. Private Retirement Schemes are tax-free and tax deductible provided the plan is approved; otherwise, the benefit becomes taxable. In order to encourage take-up of the new voluntary retirement plan, the Private Retirement Scheme (PRS), the government has introduced several tax incentives: Annual tax deductions for employee contributions of up to MYR 3,000 Tax deductions on employer contributions of up to 19% of employees' pay (including EPF contributions) Employer contributions are not taxable to employees (same treatment as EPF contributions) PRS fund investment income is tax free Retirement benefits paid out under the scheme are not taxable income for employees Employee Reference Manual Swiss Life Network

12 Double Taxation Agreements Albania, Australia, Austria, Bahrain, Bangladesh, Belgium, Bosnia and Herzegovina, Brunei Darussalam, Canada, Chile, China, Croatia, the Czech Republic, Denmark, Egypt, Fiji, Finland, France, Germany, Hong Kong, Hungary, India, Indonesia, Iran, Ireland, Italy, Japan, Jordan, Kazakhstan, Korea (Republic), Kuwait, Kyrgyzstan, Laos, Lebanon, Luxembourg, Malta, Mauritius, Mongolia, Morocco, Myanmar, Namibia, the Netherlands, New Zealand, Norway, Pakistan, Papua New Guinea, the Philippines, Poland, Qatar, Romania, Russia, San Marino, Saudi Arabia, Senegal, the Seychelles, Singapore, South Africa, Spain, Sri Lanka, Sudan, Sweden, Switzerland, Syria, Thailand, Turkey, Turkmenistan, the United Arab Emirates, the United Kingdom, Uzbekistan, Venezuela, Vietnam and Zimbabwe. Employee Reference Manual Swiss Life Network

All persons gainfully employed under age 60. Self-employed are covered also.

All persons gainfully employed under age 60. Self-employed are covered also. Prepared by First Life Financial Company. I SUMMARY Social Security Eligibility Retirement Contributions All persons gainfully employed under age 60. Self-employed are covered also. 60M/F To Social Security:

More information

Retirement pension: percentage of final pensionable salary based on the number of completed years of service

Retirement pension: percentage of final pensionable salary based on the number of completed years of service Prepared by Dubai Insurance Company. I SUMMARY Social Security Eligibility UAE nationals in private or public employment Retirement Age 60M/F for Emiratis and 65 for Non-Emiratis Contributions Contributions

More information

All employees and wage earners of industrial and commercial companies with 1 or more staff members.

All employees and wage earners of industrial and commercial companies with 1 or more staff members. Prepared by Bangkok Life Assurance. I SUMMARY Social Security Eligibility Retirement Age Contributions All employees and wage earners of industrial and commercial companies with 1 or more staff members.

More information

60M/55F subject to a minimum participation of 1 year.

60M/55F subject to a minimum participation of 1 year. Prepared by TransGlobe Life. I SUMMARY Social Security Eligibility Retirement Age Contributions Retirement Labour Insurance Programme (LI) applies to companies with 5 or more staff above age 15 and under

More information

Flexible retirement age 55-60M/F

Flexible retirement age 55-60M/F Prepared by PT Avrist Assurance. I SUMMARY Social Security Eligibility Retirement age All employees in companies with a) 10 or more staff, or b) with total monthly salaries of IDR 1,000,000 or more. The

More information

Employee: 9.75 % of gross monthly salary Employer: 12.25% of gross monthly salary depending on type of industry No salary ceiling.

Employee: 9.75 % of gross monthly salary Employer: 12.25% of gross monthly salary depending on type of industry No salary ceiling. Prepared by Mapfre Panama. I SUMMARY Social Security Eligibility Retirement Age Contributions Retirement Disability All private and public employees. 62M/57F Employee: 9.75 % of gross monthly salary Employer:

More information

AUSTRIA SUMMARY. Social Security. Prepared by WIENER STÄDTISCHE Versicherung AG.

AUSTRIA SUMMARY. Social Security. Prepared by WIENER STÄDTISCHE Versicherung AG. Prepared by WIENER STÄDTISCHE Versicherung AG. I SUMMARY Social Security Eligibility Retirement Age Contributions All persons earning more than EUR 405.98 per month. (EUR 5,683.72 per annum 2015) 65M/60F.

More information

CHILE SUMMARY. Social Security. Prepared by Swiss Life Network.

CHILE SUMMARY. Social Security. Prepared by Swiss Life Network. Prepared by Swiss Life Network. I SUMMARY Social Security Eligibility All persons gainfully employed after January 1, 1983, and all those who contributed to the old system. Self-employed persons may also

More information

All persons with permanent residence, including foreigners with a minimum of 3 years Eligibility residence.

All persons with permanent residence, including foreigners with a minimum of 3 years Eligibility residence. Prepared by Ilmarinen and Mandatum Life. I SUMMARY Social Security The National Pension Scheme All persons with permanent residence, including foreigners with a minimum of 3 years Eligibility residence.

More information

65M/F, if born before 1947 or after very long insurance duration (45 years); increasing to 67M/F, if born after 1963

65M/F, if born before 1947 or after very long insurance duration (45 years); increasing to 67M/F, if born after 1963 Prepared by Swiss Life Germany. I SUMMARY Social Security Eligibility All gainfully employed persons, except those employed with a salary of less than EUR 450 per month and persons with occasional earnings

More information

TRANSFERS FROM AN OVERSEAS PENSION SCHEME

TRANSFERS FROM AN OVERSEAS PENSION SCHEME PENSIONS PROFILE DECEMBER 2011 TRANSFERS FROM AN OVERSEAS PENSION SCHEME = Summary A simplified guide to the process: 1. Individual requests transfer from their overseas pension scheme to their UK registered

More information

All employees, cooperative farmers and self-employed persons.

All employees, cooperative farmers and self-employed persons. Prepared by Kooperativa pojišťovna. I SUMMARY Social Security Eligibility Retirement Age All employees, cooperative farmers and self-employed persons. Retirement age for men and women (irrespective of

More information

Contributions Employer contributions only with 30% of payroll up to RUB 624,000.

Contributions Employer contributions only with 30% of payroll up to RUB 624,000. Prepared by Rosgosstrakh-Life. I SUMMARY Social Security Eligibility All employed persons and their dependants. Retirement Age 60M/55F Contributions Employer contributions only with 30% of payroll up to

More information

27% social security contribution tax (24% pension + 3% health) 1,5% labour-market contribution

27% social security contribution tax (24% pension + 3% health) 1,5% labour-market contribution Prepared by UNION Biztosító. I SUMMARY Social Security Eligibility All legally employed persons, members of cooperatives, students, people receiving jobseekers allowance and all contributing citizens,

More information

Between 70% and 100%, depending on type of retirement and duration of contributions.

Between 70% and 100%, depending on type of retirement and duration of contributions. Prepared by Icatu Seguros. I SUMMARY Social Security Eligibility Retirement Age All gainfully employed persons. Normal retirement: After 35M/30F years of contributions (long service). Old age retirement:

More information

The system is funded by contributions from employers, employees and the self-employed.

The system is funded by contributions from employers, employees and the self-employed. Prepared by Danica Pension. I SUMMARY Social Security Eligibility Normal Retirement Age Contributions Essentially all residents. 65M/F The system is funded by contributions from employers, employees and

More information

Consolidated International Banking Statistics in Japan

Consolidated International Banking Statistics in Japan Total (Transfer Consolidated cross-border claims in all currencies and local claims in non-local currencies Up to and including one year Maturities Over one year up to two years Over two years Public Sector

More information

Spouse s pension: 50% of disability pension on total disability plus 20% for each child, payable up to age 16. Full orphans receive 30%.

Spouse s pension: 50% of disability pension on total disability plus 20% for each child, payable up to age 16. Full orphans receive 30%. Prepared by Seguros Inbursa. I SUMMARY Social Security Eligibility Retirement Age Contributions Any person in private employment is eligible. Special systems apply to government employees, workers in the

More information

Malaysia Tax Profile. Produced in conjunction with the KPMG Asia Pacific Tax Centre. Updated: November 2013

Malaysia Tax Profile. Produced in conjunction with the KPMG Asia Pacific Tax Centre. Updated: November 2013 Malaysia Tax Profile Produced in conjunction with the KPMG Asia Pacific Tax Centre Updated: November 2013 Contents 1 Corporate Income Tax 1 2 Income Tax Treaties for the Avoidance of Double Taxation 4

More information

DEMOGRAPHICS AND MACROECONOMICS

DEMOGRAPHICS AND MACROECONOMICS 1 UNITED KINGDOM DEMOGRAPHICS AND MACROECONOMICS Data from 2008 or latest available year. 1. Ratio of over 65-year-olds the labour force. Source: OECD, various sources. COUNTRY PENSION DESIGN STRUCTURE

More information

Summary of Social Security and Private Employee Benefits MALAYSIA

Summary of Social Security and Private Employee Benefits MALAYSIA Private Employee Benefits MALAYSIA 2013 Your Local Link to IGP in MALAYSIA: AIA Bhd. AIA Bhd. is a leading insurer in Malaysia, where it has been doing business since 1948. It offers a suite of high-quality

More information

All residents are eligible. Benefit entitlement depends on both age and type of benefit.

All residents are eligible. Benefit entitlement depends on both age and type of benefit. Prepared by Hannover Life Re of Australasia. I SUMMARY Social Security Eligibility All residents are eligible. Benefit entitlement depends on both age and type of benefit. Individuals may be able to get

More information

PORTABILITY OF SOCIAL SECURITY AND HEALTH CARE BENEFITS IN ITALY

PORTABILITY OF SOCIAL SECURITY AND HEALTH CARE BENEFITS IN ITALY PORTABILITY OF SOCIAL SECURITY AND HEALTH CARE BENEFITS IN ITALY Johanna Avato Human Development Network Social Protection and Labor The World Bank Background study March 2008 The Italian Social Security

More information

All non-agricultural employed persons. Farmers and some professionals are covered by different social insurance schemes.

All non-agricultural employed persons. Farmers and some professionals are covered by different social insurance schemes. Prepared by Compensa TU na Życie S.A. I SUMMARY Social Security Eligibility Retirement Age Contributions Retirement Benefits All non-agricultural employed persons. Farmers and some professionals are covered

More information

EMEA BENEFITS BENCHMARKING OFFERING

EMEA BENEFITS BENCHMARKING OFFERING EMEA BENEFITS BENCHMARKING OFFERING COVERED COUNTRIES SWEDEN FINLAND NORWAY ESTONIA R U S S I A DENMARK LITHUANIA LATVIA IRELAND PORTUGAL U. K. NETHERLANDS POLAND BELARUS GERMANY BELGIUM CZECH REP. UKRAINE

More information

None, it is paid out of general government revenue.

None, it is paid out of general government revenue. Prepared by Momentum. I SUMMARY Social Security Eligibility Social Security does not exist in the traditional way. Various benefits are paid subject to qualifying means testing. Only South African citizens

More information

Global Effective Tax Rates

Global Effective Tax Rates www.pwc.com/us/nes Global s Global s April 14, 2011 This document has been prepared pursuant to an engagement between PwC and its Client. As to all other parties, it is for general information purposes

More information

World Consumer Income and Expenditure Patterns

World Consumer Income and Expenditure Patterns World Consumer Income and Expenditure Patterns 2014 14th edi tion Euromonitor International Ltd. 60-61 Britton Street, EC1M 5UX TableTypeID: 30010; ITtableID: 22914 Income Algeria Income Algeria Income

More information

Malta Companies in International Tax Structuring February 2015

Malta Companies in International Tax Structuring February 2015 INFORMATION SHEET No. 126 Malta in International Tax Structuring February 2015 Introduction Malta is a reputable EU business and financial centre with an attractive tax regime and sound legislative framework.

More information

Eligibility All residents aged 20 and over. Employed persons as of age 17.

Eligibility All residents aged 20 and over. Employed persons as of age 17. Prepared by Swiss Life. I SUMMARY Social Security Eligibility All residents aged 20 and over. Employed persons as of age 17. Retirement Age Contributions Retirement Disability 65M/64F For employed persons:

More information

Bangladesh Visa fees for foreign nationals

Bangladesh Visa fees for foreign nationals Bangladesh Visa fees for foreign nationals No. All fees in US $ 1. Afghanistan 5.00 5.00 10.00 2. Albania 2.00 2.00 3.00 3. Algeria 1.00 1.00 2.00 4. Angola 11.00 11.00 22.00 5. Argentina 21.00 21.00 42.00

More information

Senate Committee: Education and Employment. QUESTION ON NOTICE Budget Estimates 2015-2016

Senate Committee: Education and Employment. QUESTION ON NOTICE Budget Estimates 2015-2016 Senate Committee: Education and Employment QUESTION ON NOTICE Budget Estimates 2015-2016 Outcome: Higher Education Research and International Department of Education and Training Question No. SQ15-000549

More information

Cisco Global Cloud Index Supplement: Cloud Readiness Regional Details

Cisco Global Cloud Index Supplement: Cloud Readiness Regional Details White Paper Cisco Global Cloud Index Supplement: Cloud Readiness Regional Details What You Will Learn The Cisco Global Cloud Index is an ongoing effort to forecast the growth of global data center and

More information

Clinical Trials. Local Trial Requirements

Clinical Trials. Local Trial Requirements Clinical Trials Clinical trials insurance covers the legal liabilities of the insured in respect of clinical trials for bodily injury arising from the trial. The coverage provided by Newline is on the

More information

The social security system is organized and implemented at national level by state bodies/ public institutions.

The social security system is organized and implemented at national level by state bodies/ public institutions. 1 March 2009 PRESENTATION OF THE CROATIAN PENSION SYSTEM Croatian social security system is mostly the insurance based, with exception of family benefits (children allowance- doplatak za djecu) and the

More information

FDI performance and potential rankings. Astrit Sulstarova Division on Investment and Enterprise UNCTAD

FDI performance and potential rankings. Astrit Sulstarova Division on Investment and Enterprise UNCTAD FDI performance and potential rankings Astrit Sulstarova Division on Investment and Enterprise UNCTAD FDI perfomance index The Inward FDI Performance Index ranks countries by the FDI they receive relative

More information

Work Injury: Benefits, 2010

Work Injury: Benefits, 2010 Austria Belgium Temporary disability The insured receives the cash sickness benefit until a decision on permanent disability is made. The employer pays 100% of earnings for up to 12 weeks (plus additional

More information

Foreign Taxes Paid and Foreign Source Income INTECH Global Income Managed Volatility Fund

Foreign Taxes Paid and Foreign Source Income INTECH Global Income Managed Volatility Fund Income INTECH Global Income Managed Volatility Fund Australia 0.0066 0.0375 Austria 0.0045 0.0014 Belgium 0.0461 0.0138 Bermuda 0.0000 0.0059 Canada 0.0919 0.0275 Cayman Islands 0.0000 0.0044 China 0.0000

More information

Global Dialing Comment. Telephone Type. AT&T Direct Number. Access Type. Dial-In Number. Country. Albania Toll-Free 00-800-0010 888-426-6840

Global Dialing Comment. Telephone Type. AT&T Direct Number. Access Type. Dial-In Number. Country. Albania Toll-Free 00-800-0010 888-426-6840 Below is a list of Global Access Numbers, in order by country. If a Country has an AT&T Direct Number, the audio conference requires two-stage dialing. First, dial the AT&T Direct Number. Second, dial

More information

United Kingdom. Old Age, Disability, and Survivors. United Kingdom. Exchange rate: US$1.00 = 0.64 pounds ( ). Qualifying Conditions

United Kingdom. Old Age, Disability, and Survivors. United Kingdom. Exchange rate: US$1.00 = 0.64 pounds ( ). Qualifying Conditions United Kingdom Exchange rate: US$1.00 = 0.64 pounds ( ). Old Age, Disability, and Survivors First laws: 1908 (old-age pension), 1911 (disability insurance), and 1925 (old-age and survivors insurance).

More information

THE ADVANTAGES OF A UK INTERNATIONAL HOLDING COMPANY

THE ADVANTAGES OF A UK INTERNATIONAL HOLDING COMPANY THE ADVANTAGES OF A UK INTERNATIONAL HOLDING COMPANY Ideal Characteristics for the Location of an International Holding Company Laurence Binge +44 (0)1372 471117 laurence.binge@woolford.co.uk www.woolford.co.uk

More information

Appendix 1: Full Country Rankings

Appendix 1: Full Country Rankings Appendix 1: Full Country Rankings Below please find the complete rankings of all 75 markets considered in the analysis. Rankings are broken into overall rankings and subsector rankings. Overall Renewable

More information

41 T Korea, Rep. 52.3. 42 T Netherlands 51.4. 43 T Japan 51.1. 44 E Bulgaria 51.1. 45 T Argentina 50.8. 46 T Czech Republic 50.4. 47 T Greece 50.

41 T Korea, Rep. 52.3. 42 T Netherlands 51.4. 43 T Japan 51.1. 44 E Bulgaria 51.1. 45 T Argentina 50.8. 46 T Czech Republic 50.4. 47 T Greece 50. Overall Results Climate Change Performance Index 2012 Table 1 Rank Country Score** Partial Score Tendency Trend Level Policy 1* Rank Country Score** Partial Score Tendency Trend Level Policy 21 - Egypt***

More information

Pension rules for the self-employed in the EU, 2014 a)

Pension rules for the self-employed in the EU, 2014 a) Austria Belgium Bulgaria Croatia Cyprus Austria used to have a comprehensive special scheme both for farmers and for craftsmen and retailers until 31 Dec 2004. As of 1 Jan 2005 all pension systems were

More information

Employment Injuries and Occupational Diseases: Benefits (Permanent Incapacity) a), 2005

Employment Injuries and Occupational Diseases: Benefits (Permanent Incapacity) a), 2005 Austria Belgium 20% (50% for pupils and students). Accident insurance fund. Review at any time possible in the first two years; thereafter at intervals of at least 1 year. No minimum level. Employment

More information

Employment Injuries and Occupational Diseases: Benefits (Temporary Incapacity) a), 2008

Employment Injuries and Occupational Diseases: Benefits (Temporary Incapacity) a), 2008 Austria Belgium In principle free choice. Persons insured in sickness insurance receive the benefits primarily from sickness insurance; the accident insurance fund, however, can assume the treatment at

More information

Thailand Tax Profile. Produced in conjunction with the KPMG Asia Pacific Tax Centre. Updated: November 2013

Thailand Tax Profile. Produced in conjunction with the KPMG Asia Pacific Tax Centre. Updated: November 2013 Thailand Tax Profile Produced in conjunction with the KPMG Asia Pacific Tax Centre Updated: November 2013 Contents 1 Corporate Income Tax 1 2 International Treaties for the Avoidance of Double Taxation

More information

Social security: All residents in Denmark. Supplementary pension scheme (ATP): All wage earners aged between 16 and retirement age.

Social security: All residents in Denmark. Supplementary pension scheme (ATP): All wage earners aged between 16 and retirement age. Prepared by PFA Pension and Danica Pension. I SUMMARY Social Security Eligibility Social security: All residents in Denmark. Supplementary pension scheme (ATP): All wage earners aged between 16 and retirement

More information

Non-Resident Withholding Tax Rates for Treaty Countries 1

Non-Resident Withholding Tax Rates for Treaty Countries 1 Non-Resident Withholding Tax Rates for Treaty Countries 1 firms Non-Resident Withholding Tax Rates for Treaty Countries 1 Country 2 Interest 3 Dividends 4 Royalties 5 Annuities 6 Pensions/ Algeria 15%

More information

MAUVE GROUP GLOBAL EMPLOYMENT SOLUTIONS PORTFOLIO

MAUVE GROUP GLOBAL EMPLOYMENT SOLUTIONS PORTFOLIO MAUVE GROUP GLOBAL SOLUTIONS PORTFOLIO At Mauve Group, we offer a variety of complete employee management services such as Global Employment Solutions (GES), Professional Employment Outsourcing (PEO),

More information

Netherlands Country Profile

Netherlands Country Profile Netherlands Country Profile EU Tax Centre March 2012 Key factors for efficient cross-border tax planning involving Netherlands EU Member State Yes Double Tax Treaties With: Albania Czech Rep. Jordan Nigeria

More information

PORTABILITY OF SOCIAL SECURITY AND HEALTH CARE BENEFITS IN THE UNITED KINGDOM

PORTABILITY OF SOCIAL SECURITY AND HEALTH CARE BENEFITS IN THE UNITED KINGDOM PORTABILITY OF SOCIAL SECURITY AND HEALTH CARE BENEFITS IN THE UNITED KINGDOM Johanna Avato Human Development Network Social Protection and Labor The World Bank Background study March 2008 The UK Social

More information

Composition of Premium in Life and Non-life Insurance Segments

Composition of Premium in Life and Non-life Insurance Segments 2012 2nd International Conference on Computer and Software Modeling (ICCSM 2012) IPCSIT vol. 54 (2012) (2012) IACSIT Press, Singapore DOI: 10.7763/IPCSIT.2012.V54.16 Composition of Premium in Life and

More information

Colombia. Old Age, Disability, and Survivors. Regulatory Framework. Qualifying Conditions. Coverage. Source of Funds. Colombia

Colombia. Old Age, Disability, and Survivors. Regulatory Framework. Qualifying Conditions. Coverage. Source of Funds. Colombia Colombia Exchange rate: US$1.00 equals 2,338.14 pesos. Old Age, Disability, and Survivors First law: 1946, implemented in 1965. Current law: 1993 (social insurance), implemented in 1994, with 2003 amendments.

More information

Reporting practices for domestic and total debt securities

Reporting practices for domestic and total debt securities Last updated: 4 September 2015 Reporting practices for domestic and total debt securities While the BIS debt securities statistics are in principle harmonised with the recommendations in the Handbook on

More information

List of tables. I. World Trade Developments

List of tables. I. World Trade Developments List of tables I. World Trade Developments 1. Overview Table I.1 Growth in the volume of world merchandise exports and production, 2010-2014 39 Table I.2 Growth in the volume of world merchandise trade

More information

Dial 00-800-0010, when prompted to enter calling number, enter 800-544-6666 American Samoa 1-800-544-6666 Number can be dialed directly Angola 0199

Dial 00-800-0010, when prompted to enter calling number, enter 800-544-6666 American Samoa 1-800-544-6666 Number can be dialed directly Angola 0199 National Financial Services International Calling Instructions Albania 00-800-0010 Dial 00-800-0010, when prompted to enter American Samoa 1-800-544-6666 Number can be dialed directly Angola 0199 Dial

More information

Other Tax Rates. Non-Resident Withholding Tax Rates for Treaty Countries. Non-Resident Withholding Tax Rates for Treaty Countries 1

Other Tax Rates. Non-Resident Withholding Tax Rates for Treaty Countries. Non-Resident Withholding Tax Rates for Treaty Countries 1 Other Tax Rates Non-Resident Withholding Tax Rates for Treaty Countries Non-Resident Withholding Tax Rates for Treaty Countries 1 Country 2 Interest 3 Dividends 4 Royalties 5 Annuities 6 Pensions/ Algeria

More information

Tble Home Team Visiting Team Home Team Visiting Team Home Team Visiting Team. Open Qualification Group A. 1st Round 2nd Round 3rd Round

Tble Home Team Visiting Team Home Team Visiting Team Home Team Visiting Team. Open Qualification Group A. 1st Round 2nd Round 3rd Round Open Qualification Group A 14th WORLD BRIDGE GAMES OPEN SERIES Group A 1 Netherlands Mexico Chile Netherlands Netherlands Denmark 2 Saudi Arabia Bosnia & Hrzna Switzerland Jordan Spain Germany 3 Korea

More information

End-of-year Tax Tips for Expatriates

End-of-year Tax Tips for Expatriates End-of-year Tax Tips for Expatriates Australian Taxation Seminar July 2010 Presented by: Geoff Taylor MBA CPA Presentation Overview Key issues covered in this presentation include: Determination of tax

More information

Know the Facts. Aon Hewitt Country Profiles can help: Support a decision to establish or not establish operations in a specific country.

Know the Facts. Aon Hewitt Country Profiles can help: Support a decision to establish or not establish operations in a specific country. Aon Hewitt Country Profiles Your eguide to employment requirements and practices Profiles for nearly 90 countries worldwide Risk. Reinsurance. Human Resources. Know the Facts Whether you are a newcomer

More information

Vodafone Traveller and Vodafone World

Vodafone Traveller and Vodafone World Vodafone Traveller and Vodafone World A. What Terms and Conditions Apply to my Vodafone Traveller and Vodafone World Product? (a) The terms and conditions that will apply to your Product or Products are:

More information

Ninth United Nations Survey of Crime Trends and Operations of Criminal Justice Systems POLICE

Ninth United Nations Survey of Crime Trends and Operations of Criminal Justice Systems POLICE Indicators as defined by the (- ) POLICE 2. Crimes recorded in criminal (police) statistics, by type of crime including attempts to commit crimes 2.2 Total recorded intentional homicide, completed (c)

More information

MALTA TRADING COMPANIES

MALTA TRADING COMPANIES MALTA TRADING COMPANIES Malta Trading Companies Maltese Registered Companies and Trading Operations in Malta Malta, an EU Member State since May 2004, has developed into a leading and reputable financial

More information

MALTA TRADING COMPANIES IN MALTA

MALTA TRADING COMPANIES IN MALTA MALTA TRADING COMPANIES IN MALTA Trading companies in Malta 1. An effective jurisdiction for international trading operations 410.000 MALTA GMT +1 Located in the heart of the Mediterranean, Malta has always

More information

ISO is the world s largest developer of voluntary international

ISO is the world s largest developer of voluntary international The ISO Survey 2005 ISO and The ISO Survey ISO is the world s largest developer of voluntary international standards for business, government and society. Its portfolio at the beginning of June 2006 comprised

More information

Raveh Ravid & Co. CPA. November 2015

Raveh Ravid & Co. CPA. November 2015 Raveh Ravid & Co. CPA November 2015 About Us Established in 1986 by Abir Raveh, CPA & Itzhak Ravid, CPA 6 Partners, 80 employees Located in Tel Aviv, Israel wide range of professional services highly experienced

More information

DOING BUSINESS IN SINGAPORE

DOING BUSINESS IN SINGAPORE DOING BUSINESS IN SINGAPORE INTRODUCTION Singapore is often regarded as one of the world s easiest place to do business (e.g. Doing Business 2012 report by the World Bank). Singapore has excellent infrastructure,

More information

Employment Injuries and Occupational Diseases: Benefits (Temporary Incapacity) a), 2009

Employment Injuries and Occupational Diseases: Benefits (Temporary Incapacity) a), 2009 Austria Belgium In principle free choice. Persons insured in sickness insurance receive the benefits primarily from sickness insurance; the accident insurance fund, however, can assume the treatment at

More information

Conditions for entitlement to disability benefits, 2013

Conditions for entitlement to disability benefits, 2013 Austria Belgium Bulgaria Croatia Cyprus Reduction in capacity for work of 50%. Reduction of capacity for work of at least 66%. 50% reduction in working capacity/degree of disability. More than 50% reduction

More information

LOCAL GOVERNMENT SUPERANNUATION SCHEME

LOCAL GOVERNMENT SUPERANNUATION SCHEME LOCAL GOVERNMENT SUPERANNUATION SCHEME SUPERANNUATION SCHEMES (REPRODUCED WITH THE KIND PERMISSION OF THE SUPERANNUATION SECTION, DEPT. OF THE ENVIRONMENT AND LOCAL GOVERNMENT) 1 The pensions legislation

More information

Eligibility All residents aged 20 and over. Employed persons as of age 17.

Eligibility All residents aged 20 and over. Employed persons as of age 17. Prepared by Swiss Life Ltd. I SUMMARY Social Security Eligibility All residents aged 20 and over. Employed persons as of age 17. Retirement Age Contributions Retirement Benefits Disability Benefits Death

More information

Friends Life Protection Account Key features of Income Protection Cover

Friends Life Protection Account Key features of Income Protection Cover Protection Friends Life Protection Account Key features of Income Protection Cover Why is this document important? The Financial Services Authority is the independent financial services regulator. It requires

More information

International Institute of Business Analysis. Salary Survey Report

International Institute of Business Analysis. Salary Survey Report International Institute of Business Analysis Salary Survey Report December 15, 2013 Introduction International Institute of Business Analysis (IIBA) is the independent, nonprofit, professional association

More information

As of 2014, the SIC contribution will increase to. 29.2 %, capped at 48times average monthly wage per year (CZK 1,242,432 for 2013)

As of 2014, the SIC contribution will increase to. 29.2 %, capped at 48times average monthly wage per year (CZK 1,242,432 for 2013) Country Mandatory Social Security Mandatory Health Insurance (or other type if applicable) Austria 21,83% 18,07% 18,5% retirement pension ; 8,48 per month accident insurane; 7,65% health Belgium 35% of

More information

International aspects of taxation in the Netherlands

International aspects of taxation in the Netherlands International aspects of taxation in the Netherlands Individuals resident in the Netherlands are subject to income tax on their worldwide income. Companies established in the Netherlands are subject to

More information

- 2 - Chart 2. Annual percent change in hourly compensation costs in manufacturing and exchange rates, 2010-2011

- 2 - Chart 2. Annual percent change in hourly compensation costs in manufacturing and exchange rates, 2010-2011 For release 10:00 a.m. (EST) Wednesday, December 19, 2012 USDL-12-2460 Technical Information: (202) 691-5654 ilchelp@bls.gov www.bls.gov/ilc Media Contact: (202) 691-5902 PressOffice@bls.gov INTERNATIONAL

More information

CARE & HEALTH International Healthcare Solution GROUPS

CARE & HEALTH International Healthcare Solution GROUPS CARE & HEALTH International Healthcare Solution GROUPS CARE & HEALTH, YOUR MAIN ADVANTAGES u TOP-OF-THE-RANGE COVERAGE AVAILABLE TO EVERYONE Are you looking for an international healthcare coverage for

More information

List of Agreements on Mutual Visa Exemption. Between the People s Republic of China and Foreign Countries

List of Agreements on Mutual Visa Exemption. Between the People s Republic of China and Foreign Countries List of Agreements on Mutual Visa Exemption Between the People s Republic of China and Foreign Countries (In alphabetical order of foreign countries) Last Update: May 9, 2015 No. Foreign Country Passport

More information

UAE TAX. Personal Tax

UAE TAX. Personal Tax UAE TAX This document aims to provide a brief outline of the laws and treaties in force in the UAE, an overview of the taxation regime in the UAE including a summary of the UAE double taxation treaties

More information

Mineral Industry Surveys

Mineral Industry Surveys 4 Mineral Industry Surveys For information contact: Robert L. Virta, Asbestos Commodity Specialist U.S. Geological Survey 989 National Center Reston, VA 20192 Telephone: 703-648-7726, Fax: (703) 648-7757

More information

Indonesia Tax Profile

Indonesia Tax Profile Indonesia Tax Profile Produced in conjunction with the KPMG Asia Pacific Tax Centre Updated: November 2013 Contents 1 Corporate Income Tax 3 2 International Treaties for the Avoidance of Double Taxation

More information

All employees of companies with 20 or more employees working in the formal sector of the economy.

All employees of companies with 20 or more employees working in the formal sector of the economy. Prepared by Swiss Life Nework. I SUMMARY Social Security Eligibility Retirement Age All employees of companies with 20 or more employees working in the formal sector of the economy. 58M/F (60M/F for NPS)

More information

Global AML Resource Map Over 2000 AML professionals

Global AML Resource Map Over 2000 AML professionals www.pwc.co.uk Global AML Resource Map Over 2000 AML professionals January 2016 Global AML Resources: Europe France Italy Jersey / Guernsey 8 Ireland 1 Portugal 7 Luxembourg 5 United Kingdom 1 50 11 Spain

More information

U.S. Salary Increase Survey Highlights

U.S. Salary Increase Survey Highlights Consulting Performance, Reward & Talent 2012 2013 U.S. Salary Increase Survey Highlights We ask each participating company to treat these survey findings with the greatest confidence. The findings are

More information

Taxation of Cross-Border Mergers and Acquisitions

Taxation of Cross-Border Mergers and Acquisitions KPMG INTERNATIONAL Taxation of Cross-Border Mergers and Acquisitions kpmg.com 2 : Taxation of Cross-Border Mergers and Acquisitions Introduction The (UAE) is a federation of seven Emirates: Abu Dhabi,

More information

Contact Centers Worldwide

Contact Centers Worldwide A Contact Centers Worldwide Country Tel.no. Supported lang. Contact Center Albania Algeria 852 665 00 +46 10 71 66160 Angola 89900 +34 91 339 2121 (Port) and Portuguese +34 913394044 +34 913394023 (Por)

More information

Social Security Programs Throughout the World: The Americas, 2007

Social Security Programs Throughout the World: The Americas, 2007 Social Security Programs Throughout the World: The Americas, 2007 Social Security Administration Office of Retirement and Disability Policy Office of Research, Evaluation, and Statistics 500 E Street,

More information

INTERNATIONAL COMPARISONS OF HOURLY COMPENSATION COSTS

INTERNATIONAL COMPARISONS OF HOURLY COMPENSATION COSTS For release 10:00 a.m. (EST) Tuesday, March 8, 2011 USDL-11-0303 Technical Information: (202) 691-5654 ilchelp@bls.gov www.bls.gov/ilc Media Contact: (202) 691-5902 PressOffice@bls.gov INTERNATIONAL COMPARISONS

More information

MIT U.S. Income Tax Presentation Non US Resident Students

MIT U.S. Income Tax Presentation Non US Resident Students MIT U.S. Income Tax Presentation Non US Resident Students PwC Boston Nabih Daaboul Carol McNeil Rich Wagman 1 Basic U.S. Tax Overview for International Students A foreign national is a person born outside

More information

PAY MONTHLY ADDITIONAL SERVICES TERMS AND CONDITIONS

PAY MONTHLY ADDITIONAL SERVICES TERMS AND CONDITIONS 4GEE PHONE PLANS ADDITIONAL SERVICES (ALL STANDARD 12 & 24 MONTH PLANS INCLUDING SIM ONLY PLANS) The following add-ons are available on your plan. We reserve the right to change the add-ons available to

More information

Health Systems: Type, Coverage and Financing Mechanisms

Health Systems: Type, Coverage and Financing Mechanisms Health Systems: Type, Coverage and Mechanisms Austria Belgium Bulgaria (2007) Czech Republic Denmark (2007) Estonia (2008). Supplementary private health Complementary voluntary and private health Public

More information

Culture in the Cockpit Collision or Cooperation?

Culture in the Cockpit Collision or Cooperation? Culture in the Cockpit Collision or Cooperation? Dr. Nicklas Dahlstrom Human Factors Manager Understanding Safety - The Changing Nature of Safety 1 Lives lost per year How safe is flying? 100 000 10 000

More information

Dividends Tax: Summary of withholding tax rates per South African Double Taxation Agreements currently in force Version: 2 Updated: 2012-05-22

Dividends Tax: Summary of withholding tax rates per South African Double Taxation Agreements currently in force Version: 2 Updated: 2012-05-22 Dividends Tax: Summary of withholding tax rates per South African Double Taxation Agreements currently in force Version: 2 Updated: 2012-05-22 Note: A summary of the rates and the relevant provisions relating

More information

Tax Concessions for Older People in OECD Countries, 2010

Tax Concessions for Older People in OECD Countries, 2010 Austria Belgium Czech Republic Tax credit of EUR 400 for low pension income up to EUR 17,000; the tax credit is fully phased out once pension income equals EUR 25,000. pension income of maximum EUR 1,901.19.

More information

INTERNATIONAL AIR SERVICES TRANSIT AGREEMENT SIGNED AT CHICAGO ON 7 DECEMBER 1944

INTERNATIONAL AIR SERVICES TRANSIT AGREEMENT SIGNED AT CHICAGO ON 7 DECEMBER 1944 State INTERNATIONAL AIR SERVICES TRANSIT AGREEMENT SIGNED AT CHICAGO ON 7 DECEMBER 1944 Entry into force: The Agreement entered into force on 30 January 1945. Status: 130 Parties. This list is based on

More information

I. World trade developments

I. World trade developments I. World trade developments The value of world merchandise exports increased by 20 per cent in 2011 while exports of commercial services grew by 11 per cent. Key developments in 2011: a snapshot Trade

More information

Malaysia Taxation. 3.1 Taxation of funds. Dividend income. Unit trust

Malaysia Taxation. 3.1 Taxation of funds. Dividend income. Unit trust Malaysia Taxation FUNDS AND FUND MANAGEMENT 2010 3.1 Taxation of funds Dividend income Unit trust For Malaysian taxation purposes, a unit trust (except for approved Real Estate Investment Trusts (REITs)

More information

The big pay turnaround: Eurozone recovering, emerging markets falter in 2015

The big pay turnaround: Eurozone recovering, emerging markets falter in 2015 The big pay turnaround: Eurozone recovering, emerging markets falter in 2015 Global salary rises up compared to last year But workers in key emerging markets will experience real wage cuts Increase in

More information

Executive Income Protection

Executive Income Protection Executive Income Protection Policy conditions Reference PN37 02.09 Contents Page 1 Introduction 2 2 Premiums 5 3 Insured benefit 6 4 Proportionate benefit 7 5 Rehabilitation benefit 8 6 Hospitalisation

More information