Tax Incentives

Tax Incentives

Payment Process

• The amount of the employer premium is income tax base exempted up to 10% of your gross salary and aggregate annual amount of the minimum wages.
• The portion of tax exempted amount of the premium paid by your employer on your behalf cannot be in excess 10% of your gross annual wages or aggregate annual minimum wages.

Investment Process

• Proceeds of pension investment funds are corporate tax exempted.
• The proceedings are stamp tax exempted.
• Capital market proceedings are corporate tax exempted.

Repayment Process

• The aggregate amount of the proceeds obtained upon pension are tax exempted up to 25%, and remaining 75% is subject to 5% withholding tax.
• Early leave of the system in case of necessity will be subject to withholding tax at higher rates.