The Decree 1.431 has released in Official Gazette No. 40.542 on 17th November 2014 to increase the Monthly Minimum Salary (MMS) from VEF 4,251.40 to VEF 4,889.11 and it will be applicable from 1st December 2014. As the taxable base, the increment of the MMS may not cross 5 MMS in the case of social security contributions and 10 MMS in the case of employment contributions. Because it impacts the payroll contributions calculation.
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