Below is the list of the tax reliefs for different regions for SeamlessPayroll;
Nigeria:
1. National Health Insurance Scheme (NHIS): Contributions to NHIS can be used as a tax-deductible. The rate varies based on the NHIS policy each employee subscribed to.
2. Voluntary Pension Contributions or AVC: Employees can make voluntary contributions to their pension funds, which are tax-deductible. Employees can contribute up to 20% of their monthly salary to their pension fund. This is in addition to the mandatory 18% (8% employee, 10% employer) pension contribution.
3. National Housing Fund (NHF): Contributions to the NHF can be tax-deductible, with the deduction of 2.5% of the employee's monthly salary.
4. Life Assurance Premium: Premiums paid for life insurance policies are tax-deductible.
Ghana:
1. National Health Insurance Levy (NHIL): Contributions to NHIL may offer some relief, though primarily it's a statutory levy. It is part of the Value Added Tax and are not directly tax-deductible for employees.
2. Voluntary Pension Contributions: Contributions to the third tier of the pension scheme (voluntary personal pension) are tax-deductible, with up to 16.5% of annual salary.
3. Social Security and National Insurance Trust (SSNIT): Employee contributions to SSNIT are tax-deductible, with 5.5% of the employee's gross salary.
4. Life Insurance: Premiums paid on life insurance policies are tax-deductible, with a maximum limit of GH¢ 4,000 per annum.
Rwanda:
1. Rwanda Social Security Board (RSSB) Contributions: Contributions to pension and health schemes through RSSB are tax-deductible.
* Pension Scheme: Employers and employees contribute 6% of gross income (computed gross + BIK).
* Medical Scheme: Employers contribute 8% of gross income (computed gross + BIK).
2. Voluntary Pension Contributions: Additional contributions beyond the mandatory ones are tax-deductible, usually up to a certain limit set by the tax authorities.
3. Medical Insurance Contributions: Contributions to approved medical insurance schemes can be tax-deductible, though specific percentages or limits depend on the scheme.
Kenya:
1. SHIF - Social Health Insurance Fund
Aims to provide better health services for all Kenyans, addressing the limitations of the NHIF and expanding the scope of care to include preventive and chronic illness management.
- The contribution is based on a graduated scale tied to the employee's gross salary, ranging from KES 150 to KES 1,700 per month.
- For instance:
- Those earning less than KES 6,000 contribute KES 150.
- Those earning over KES 100,000 contribute KES 1,700.
2. Voluntary Pension Contributions: Additional voluntary contributions to registered pension schemes are tax-deductible, up to a maximum of KES 20,000 per month or KES 240,000 per year.
3. Life Insurance: Premiums paid towards life insurance are tax-deductible, up to a maximum of 15% of the premium paid.
4. Home Ownership Savings Plan (HOSP): Contributions to a registered HOSP are tax-deductible, up to a maximum of KES 48,000 per year.