Amendments to the income tax law clarified that mutual termination agreements should benefit from income tax exemption within the limit of the mandatory severance payments amount to which the employee is entitled on termination. The exceeding amount should not benefit from income tax exemption.
Announcing Lockton’s 2024 Global Benefits Strategy Survey!
Participate and gain key insights into how multinationals execute their benefit strategies. Results will be shared with participants in May 2024.