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Radical Slash Of Social Insurance Tax
Cabinet meeting
TIRANA, Aug 20 - In an effort to promote payment of the social insurance for the Albanian employees the government reduced the payment for social insurance to 15 percent.

The government made the second action in two years. In 2006 it lowered it from 43 to 31 percent of the salary and on Wednesday to 15 percent (starting from January 2009) in what followed as a positive consequence the "progressive consolidation of the fiscal discipline," as Prime Minister Sali Berisha said.

The government approved in June a plan to raise pensions in urban areas by 10 percent and in the countryside by 15 percent.

The raise will also come into effect from July 1. The government also raised the minimum wage in February by 10 percent following recent hikes in the price of bread.

The minimum wage now stands at 16,000 leks per month.

Though the payment is a moderate one many private companies and individuals themselves do not pay it, something which, on its side, affects the future of the payment of retired people.Only 46 percent of the employees pay the social insurance.

Most of the social insurance payment should be done by the employer but it is often learnt that they either do not pay it at all or declare only a small number of employees working for them.
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