Where do I enter the savings fund and is it taxable?
In Celery, the savings fund is entered under wage code 600. With regard to the employer’s contribution 5% of the annual wages (with a maximum of ANG 840.00 annually) is free of tax. The employee’s contribution concerns a contribution from the net salary over which taxes and premiums have already been paid.
Not every savings scheme complies with the requirements to be eligible for the exemption as mentioned above. The exact requirements for such a savings scheme can be found in the Wage Tax Manual 2004 (page 14), which can be downloaded here.