STUDY: Work in Moldova has a less fees than in most European countries
foto: publika.md
Work in Moldova is taxed less than in most European countries, according to data from a study presented by the Businessmen's Association.
The personal income tax is 12%. Thus, our country ranks 7th out of 42, with one of the lowest income taxes in the states on the European continent. The highest fee is paid by the Swedes, about 62%, and the lowest, 9%, by the Montenegrins.
The largest share of the cumulative social security contribution is paid in France, over 59%, and the lowest is 8% in Denmark. Moldovans pay 24% and are ranked 10th.
As for the employer's contribution, after the tax reform cut, Moldova - by 18% - jumped to the middle of the ranking. The first place is occupied by Denmark, with 0%, and the last with France - by 45%.
As far as the social security contribution paid by the employee is concerned, our country ranks 8th, 6%.
The personal income tax is 12%. Thus, our country ranks 7th out of 42, with one of the lowest income taxes in the states on the European continent. The highest fee is paid by the Swedes, about 62%, and the lowest, 9%, by the Montenegrins.
The largest share of the cumulative social security contribution is paid in France, over 59%, and the lowest is 8% in Denmark. Moldovans pay 24% and are ranked 10th.
As for the employer's contribution, after the tax reform cut, Moldova - by 18% - jumped to the middle of the ranking. The first place is occupied by Denmark, with 0%, and the last with France - by 45%.
As far as the social security contribution paid by the employee is concerned, our country ranks 8th, 6%.