Every quarter, AIRINC publishes Data Points, offering detailed insights from our cost-of-living research conducted worldwide including taxes, housing and goods & services.
AIRINC’s Tax Team monitors international developments related to individual taxation and global mobility, and updates AIRINC’s tax data and logic to reflect the current laws and regulations. AIRINC’s tax library covers over 200 countries and territories.
Introducing the latest findings from the tax team's Data Points research:
Australia: The 2024/2025 budget introduced tax relief for individuals, adjusted tax rates and brackets, and increased employer-paid superannuation rates. These changes collectively decrease taxes for all taxpayers while raising employer social security contributions.
Bahama: While the Bahamas does not impose an income tax, recent changes have increased the employee social security rate and maximum annual contributions, leading to a slight rise in social security costs for expatriates.
Kenya: Kenya has overhauled its social security system, replacing the National Hospital Insurance Fund with the Social Health Insurance Fund (SHIF). This reform mandates individual contributions, increasing overall social security costs for expatriates.
Italy: Adjustments to employment credits and family allowances slightly decreased taxes for lower incomes and families. However, the expatriate exclusion was reduced, imposing stricter residency requirements and salary caps.
United Kingdom: The UK Spring Budget introduced a reduction in National Insurance Contributions and several changes to tax regulations, including a repeal of the Non-Domicile regime and modifications to Overseas Workday Relief.
Bahama: While the Bahamas does not impose an income tax, recent changes have increased the employee social security rate and maximum annual contributions, leading to a slight rise in social security costs for expatriates.
Kenya: Kenya has overhauled its social security system, replacing the National Hospital Insurance Fund with the Social Health Insurance Fund (SHIF). This reform mandates individual contributions, increasing overall social security costs for expatriates.
Italy: Adjustments to employment credits and family allowances slightly decreased taxes for lower incomes and families. However, the expatriate exclusion was reduced, imposing stricter residency requirements and salary caps.
United Kingdom: The UK Spring Budget introduced a reduction in National Insurance Contributions and several changes to tax regulations, including a repeal of the Non-Domicile regime and modifications to Overseas Workday Relief.
Don't miss out on the latest updates in our summer school mobility tax series by joining us on August 8th!
