What are tax liabilities due on the monthly premiums for the employee?
- Insurance premiums up to EUR 1,500 per annum, paid by the employer for medical, hospital, life, or disability coverage for its employees, are tax-exempt for the benefitting employee. This exemption applies to each employee individually. Additionally, there is a general tax exemption of EUR 300.
Does Remote have to entity withhold PAYE/wage tax and social security from the benefit in kind?
- For any amount exceeding EUR 1,500 per annum, the company should report the excess as a taxable benefit-in-kind without source withholding. There are no social security considerations.