Personal Income Tax / Annual Leave Payments

• Income tax should be calculated on income which has been received from the beginning of the year (including annual leave payments) with the exclusion of the statutory minimum wage for the whole period;
• the statutory minimum wage will not be excluded from salary for a month of annual leave if the leave period ends on or before the 15th of that month; likewise the statutory minimum wage will be excluded if the leave period ends after 15th of that month;
• the statutory minimum wage in respect of future annual leave may be excluded only within the same calendar year.