Be Careful With Your Payday Advance

By Harriet Porter


In 2008, there is no change in the time line for the submission of contributions. In accordance with article of the code contributions to the supplementary compulsory pension insurance are imported at the same time as contributions to State social insurance. Insurers submit contributions for each month separately through a transfer from the accounts of the relevant account of State social insurance and the additional compulsory pension insurance for reimbursement or accrual of wages, including a payday advance.

Local natural person irrespective of citizenship, is a person with a permanent address in the United States, or who reside in the territory of the country for more than 183 days in any 12-month period, or whose centre of vital interests is located in the United States. A person with a permanent address in the United States is not a resident natural person, if his centre of vital interests is not located in the country. A foreign natural person is a person who is not designated as a local.

The tax period for income tax of individuals is the calendar year, with the exception of income subject to final tax. Income from all sources, acquired by the taxpayer during the tax year, with the exception of income that are taxable under the act. In determining the amount of taxable income shall be deducted from the expenditure provided for in the law.

The annual tax base shall be determined for each income source separately. The total annual tax base is the sum of the annual tax bases for employment income and your holdings and investments. Tax rate-the tax on the total annual tax base is determined by the total annual tax base multiplied by a tax rate of 10 %.

Taxable income is formed pursuant to the law on corporate income tax tax profit. Like this involving and financial result of the transfer of the undertaking of the sole trader without deletion of the sole trader from the commercial register. Do not include the accounting financial result, formed from the activities that are subject to the alternative tax, under the law on corporate income tax or that is taxed at a patent tax by the procedure of the law for local taxes and fees.

Annual tax return is filed in the territorial Directorate of the National Revenue Agency by the permanent address of the natural person, including the sole trader, carrier of the obligation to pay tax, by 30 April of the year following the year of acquisition of income. With the annual tax declaration declarers also receive and are granted loans above a certain size. Do not declare income tax-free, income, taxable with a final tax and income from employment relationships.

This year the ratio is preserved, which distributes health insurance contribution between insurers and insured persons, namely, 60 per cent of the contribution is for the account of the insurer, and 40 percent of it is at the expense of the insured. In 2009, the amount of the sickness insurance contribution determined in the law on the budget of the health insurance fund, is 8 %. Therefore, the distribution of the health insurance contribution is 4.8 % and 3.2 %.

The amount of the advance payment shall be determined by the employee, as may not exceed half of the net amount of wages under the employment contract. Change the size can be performed once a year. Advance payments of part of the wages shall be carried out by the 15th of the current month.




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