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The other type of Swedish payroll tax is the income tax withheld , which consists of municipal, county, and, for higher income brackets, state tax. In most municipalities, the income tax comes to approximately 32 percent, with the two higher income brackets also paying a state tax of 20 or 25 percent respectively.
The Social Security Administration projects that an increase in payroll taxes equivalent to 1.9% of the payroll tax base or 0.7% of GDP would be necessary to put the Social Security program in fiscal balance for the next 75 years. Over an infinite time horizon, these shortfalls average 3.4% of the payroll tax base and 1.2% of GDP. [18]
4 July – Category 4 Hurricane Beryl causes a six- to nine-feet storm surge and fierce winds along Jamaica's southern coast, killing at least one person there before tracking to the Cayman Islands. [4] 26 July–11 August – Jamaica at the 2024 Summer Olympics [5]
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For the 2023 tax year, the Earned Income Tax Credit (EITC) will increase to $7,430 for qualifying taxpayers who have three or more qualifying children, a $495 gain from $6,935 for the 2022 tax year.
Jamaica, which had seen its poverty rate drop almost 20 percent over two decades, saw it increase by eight percent in a few years. The unemployment rate in Jamaica is approximately 6.0% (April 2022, Statistical Institute of Jamaica), with youth unemployment more than twice the national rate, albeit trending downwards (15%).
Jamaica was ranked 34th in the Region of the Americas in terms of number of deaths caused by Covid-19. [11] The country did utilize the vaccine, and by December 2021 at least one dose of the vaccine was given to 26.6% of the population. [11] As of April 2022, 23% of the population completed the vaccination cycle. [11]
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related to: payroll taxes in jamaica 2024 2022 update news videoStellar Choice For Taxpayers - TopTenReviews