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Venezuela Publishes Decree Increasing Minimum Monthly Salary

|Approved Changes|Venezuela
Venezuela

On 6 February 2015, Venezuela published in the Official Gazette the decree setting the country's minimum monthly salary, which is increased to VEF 5,622 with effect from 1 February 2015. The minimum salary is used in determining the basis cap for social security contributions, unemployment insurance, and other benefits.

For employer social security contributions, the rates are 9%, 10% or 11% …

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