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2.1ÌýÌýÌýÌý Withholding of income tax

The withholding process is described for each of the following cases:

1. Ìý

   •ÌýÌýÌýÌý both employer and employee are tax residents: 2.1.1

2. Ìý

   •ÌýÌýÌýÌý the employer is tax resident, but the employee is not tax resident: 2.1.2

3. Ìý

   •ÌýÌýÌýÌý the employer is not tax resident, but the employee is tax resident: 2.1.3

2.1.1ÌýÌýÌýÌý Both employer and employee are tax residents

The employer must calculate, declare and pay the income tax applicable to the salary of its employees on a monthly basis.

The tax will be calculated based on gross salary, applying the rates described below.

If the employee works on a weekly or bi-weekly basis, the employer must retain the corresponding amount (meaning a fourth of the monthly total amount).

However, when it comes to declaring and paying, the employer only needs to do this on a monthly basis. (one declaration