Your browser does not support JavaScript. Please open your JavaScript console if the webpage does not function normally
Printer-friendly:
Please press Ctrl + P to print
FontSize:
For IE6 users, please press ALT + V → X → (G) Largest (L) Large (M) Medium (S) Small (A) Smallest to choose the font size.
For IE7(above)/Firefox users, please press Ctrl + (+) enlarge / (-)reduce to change the font size.
Public Service

11. What are the tax related regulations for new labor pension system?

According to the regulations in Article 14 of the Income Tax Act, the tax related regulations for Labor pension during contribution period and receiving are described in the followings:

  1. Contribution Period: If a labor voluntarily contributes pension according to the regulations in Labor Pension Act and the contribution is within 6% of monthly salary, then the pension contribution is not included in taxable salary for income tax.
     
  2. After receive Labor Pension: For the pension from voluntary contribution which is not included in annual taxable salary and its interest (revenue) and the pension from employer contribution and its interest which exceed the tax exemption amount of retirement income are retirement income and should be included in the consolidated income tax return.

Note: Tax Exemption Standard is based on the announcement by Ministry of Finance.
 

Last Update:2019-08-06
TOP BACK