Compulsory state social insurance fee paid by employer to be reduced

Baku. 24 October. REPORT.AZ/ Rates of compulsory social insurance fees paid by employer and employee will be changed, Report informs citing 2019 state budget package.

So, social insurance fee on those working at non-oil and non-state sectors with the salary up to AZN 200 will be 3% on employee, 22% on employer. Employees with the salary more than AZN 200 will pay AZN 6 and 10% of a part that exceeds AZN 200 as a state social insurance fee, employers – AZN 44 or 15% of a part that exceeds AZN 200.

According to the initial draft budget package, with the reforms to be conducted, Calculation and payment of fees on social insurance and unemployment insurance may be controlled by tax authorities.