A study was done on the price of groceries, utility bills, rent, transportation, etc., to determine the countries with the highest cost of living (in comparison to the cost of living in New York City).
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The reality is that countries themselves have different policies that affect how easy it is to attract people, educate and professionally develop them, and retain the best workers – and these factors can either empower or undermine talent recruitment efforts.
Read More...Throughout Northern and Western Europe, various new labor laws have been implemented, and many notable amendments have been made to those already in effect for the year of 2021 and beyond. Below are some of the highlights of these new laws and amendments in specified European countries.
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The Czech Republic has introduced several changes in insurance, UBO, and reporting policies for the year of 2021. As of January 1st, 2021, the income base amount for health insurance contributions has been raised by CZK 500. The threshold for health insurance participation which had been previously set at CZK 3,000 is now at CZK 3,500.
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Government officials in Brazil have introduced the “Balcão Único” initiative, streamlining the incorporation process for companies. With this new system in place, companies will be able to save time and money in efforts toward getting their business up and running.
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Budget projections for the year of 2021 were delivered in Singapore on the 16th of February. As a COVID-19 support initiative, the Singapore government allocated almost S$100 billion across five budget schemes in conjunction with the standard expenditures of the prior year. The budget statement also disclosed that the fiscal year of 2020 had presented an immense budget deficit to Singapore.
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The 2021 UK budget was presented to parliament in early March. The budget will continue to incorporate allocations to various coronavirus support measures. There are no notable changes in key rates for this year. Corporate tax rate remains at 19%, although it will rise considerably in the next two years. The insurance contribution rates for both employee and employer also remains the same.
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For the year of 2021, several changes have been implemented into employee leave and social security policies in Switzerland. These changes grant employees with additional paid leave time offerings, and oblige employers to higher contribution rates to specific pension plans.
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The economic employer concept has been implemented in Sweden for the year of 2021. In previous labor regulations, taxes were not applicable to non-Swedish employees who were receiving remuneration from a non-Swedish company. Under this scheme, employers are viewed merely as the company under which labor is carried out.
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New provisions have been proposed by the Social Affairs and Employment Ministry, which directly impact social security contribution rates for 2021 in the Netherlands. Unemployment insurance (AWF) contribution is set at 2.7% for contract employees with no set end-date, and 7.7% for provisional workers and employees on flextime.
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