IVS Contribution Exemption for 2024
News No. 3/2024
Budget Law No. 213 of December 30, 2023, provided, on an exceptional basis, for payroll periods from January 1, 2024, to December 31, 2024, for public and private-sector employment relationships (excluding domestic employment relationships), an exemption from the employee’s share of social security contributions, in the amount of:
6%, provided that the taxable income, calculated on the basis of thirteen monthly payments, does not exceed the monthly amount of 2,692.00 euros, net of the accrued thirteenth-month bonus;
7%, provided that the taxable income, calculated on the basis of thirteen monthly payments, does not exceed the monthly amount of 1,923.00 euros, net of the accrued thirteenth-month bonus.
On January 16, 2024, INPS published a circular setting forth the conditions and instructions for applying this exceptional exemption to pay stubs.
Entities Eligible for the Exemption
All employees of both private and public employers are eligible for the exemption, regardless of whether or not their employers are classified as business owners, including apprentices, provided they meet the monthly wage limit and the limit on IVS contributions payable by the employee.
The following are excluded , however, domestic workers.
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