Terms for 13th and 14th salary

The voluntary bonus in the form of 13th and 14th salary will be exempt from income and payroll taxes up to €500, announced the Finance Ministry. Only workers staying with their employer for at least two years (four years for the 14th salary) will be eligible for the 13th salary, to be paid in June (December for the 14th salary). In 2018, the bonuses will only be exempt from health levies, but from all levies starting in 2019. The ministry expects only a handful of firms to join the scheme in 2018, and the shortfall in income and payroll tax revenue should come to €20m next year.

(sme.sk)