In the international market, staying updated on local news is crucial for our clients with overseas offices. We keep you informed about changes in labour legislation and upcoming updates in the countries where we offer business support, ensuring you’re aware of new payment standards and benefits in advance.
Effective January 2024, local authorities have raised the maximum taxable base to 573 470 RSD, up from 500 360 RSD in 2023. With this new tax regulation, monthly employer costs are expected to rise by approximately 95-100 EUR, while employees will see a decrease of about 120-125 EUR in their monthly net income.
Starting January 2024, the Bulgarian government has increased the maximum taxable income to BGN 3750, up from BGN 3400. This adjustment results in a roughly 10.29% rise in the total employer’s taxes, which will go from BGN 646.68 (EUR 330.64) to BGN 713.25 (EUR 364.68).
Beginning January 2024, the minimum monthly wage has been increased to 820 EUR. As a result, the minimum social contributions have also increased to 239.25 EUR.
In Estonia, the paternity benefit provides employed fathers with 30 calendar days of leave to promote greater parental involvement. This form of parental support aims to encourage fathers to be more engaged in the early nurturing of their children.
In Slovenia, employees receive a performance-based “Christmas bonus” annually as a reward for their hard work. For 2023, this bonus is tax-free up to a maximum of either 100% of the average monthly salary for Slovenian employees (EUR 2,221.85) or 100% of the employee’s average monthly salary (including salary compensation) from the past year, whichever is more advantageous. Any amount above these thresholds is taxable only on the portion exceeding the limits.
In Romania, employment contracts are generally open-ended (unlimited) by default. However, fixed-term contracts are also allowed under certain conditions outlined in the Labour Code. All individual employment contracts must be written in Romanian and agreed upon by both the employer and employee. Fixed-term contracts must include essential details and a specified duration. Regulations permit up to three consecutive fixed-term contracts for the same position, with a total duration not exceeding 36 months.
Starting in 2024, employers in Bulgaria will only be required to cover the first two days of sick leave, providing 80% of the average daily gross salary. This is a reduction from the previous three-day coverage. Businesses view this decrease in sick leave costs as an opportunity to invest more and potentially increase wages.
Under the Labour Code of Romania, obtaining a medical certificate is a mandatory step for finalizing an individual employment contract. This certificate is required to assess the applicant’s fitness for the job. Without the medical certificate, the employment contract is considered invalid.
Ukraine has updated its minimum wage in 2024.
Starting in April, it has increased to 8,000 UAH (approximately 205 USD).
The change affects the maximum taxable salary base for the Single Social Contribution, which has raised to 106,500 UAH (2,730 USD) and 120,000 UAH (3,080 USD) respectively.
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