What are payroll taxes in Venezuela?

Employer Payroll Tax

• 9%-11% depending on risk – Social Security
• 2% – Unemployment
• 2% – Housing Loan Regime
• 2% – Employee training contribution (INCES)
• 0.75% – 10% – Workplace prevention, conditions, and environment contribution (LOPCYMAT)
• 15.75% – 27% – Total Employment Cost

Employee Payroll Taxes

• 4.00% – Social Security
• 0.50% – Unemployment Insurance
• 1.00% – Housing Loan Regime
• 0.50% – Employee training contribution (INCES)
• 6% – Total Employee Cost

Employee Income Tax

• 6%- 34% – Range of income tax