San Marino Tax Tables 2024 - Tax Rates and Thresholds in San Marino

This page contains the tax table information used for the calculation of tax and payroll deductions in San Marino in 2024. These tax tables are used for the tax and payroll calculators published on iCalculator™ SM, these tools are provided for your free use on our website. If you would like additional tax table information added to the tax calculators for San Marino or would like to add to or suggest amendments to the information herein then please contact us.

San Marino Personal Income Tax Tables in 2024

The Income tax rates and personal allowances in San Marino are updated annually with new tax tables published for Resident and Non-resident taxpayers. The Tax tables below include the tax rates, thresholds and allowances included in the San Marino Tax Calculator 2024.

In San Marino, social security deductions made by both employees and employers are considered deductible for the purposes of calculating taxable income. This means that the amounts contributed towards social security can be deducted from the gross income before income tax is applied, effectively lowering the taxable income of both individuals and businesses. This provision not only encourages participation in the social security system but also provides tax relief, thereby supporting the financial well-being of employees and the competitiveness of businesses.

San Marino Social Security and Payroll Deduction Rates in 2024

In San Marino, the social security system is designed to provide comprehensive coverage and protection to both employees and employers, encompassing a range of benefits from healthcare to retirement pensions. Contributions to the social security system are mandatory, with both employees and employers required to make regular deductions and payments. These contributions fund various social benefits, ensuring a safety net for the workforce and their families.

Pension Contributions

Pension contributions constitute a fundamental part of the social security system in San Marino, aimed at providing financial stability to individuals upon retirement. Both employees and employers contribute to this scheme, which funds the retirement pensions for those who have reached the end of their working life. This ensures that retirees can maintain a reasonable standard of living, acknowledging their contribution to the economy during their working years.

Healthcare Contributions

Healthcare contributions are another critical component, ensuring access to healthcare services for workers and their families. These contributions are used to fund the public healthcare system, providing preventive, curative, and rehabilitative services. This system enables residents of San Marino to access high-quality healthcare services, contributing to the overall well-being and health of the population.

Disability and Survivor Benefits

Contributions towards disability and survivor benefits offer protection to workers who are unable to work due to disability and to the families of workers who have passed away. These benefits provide financial support to individuals and families facing loss of income due to these circumstances, ensuring they are not left vulnerable.

Unemployment Benefits

While San Marino has a low unemployment rate, the social security system includes provisions for unemployment benefits, providing temporary financial support to individuals who are actively seeking employment but are currently unemployed. This safety net helps to mitigate the economic impact of job loss on individuals and families, supporting them until they can find new employment.

Maternity and Family Benefits

Maternity and family benefits are designed to support families during the critical periods of pregnancy, childbirth, and child-rearing. These benefits include maternity leave payments and allowances for families with children, promoting family welfare and encouraging a balance between work and family life. By supporting families during these times, San Marino demonstrates a commitment to the well-being of its future generations.

Challenges and Reforms

The social security system in San Marino, like those in many other countries, faces challenges such as demographic changes, economic fluctuations, and the need for sustainability. The government continuously assesses and reforms the social security system to ensure its long-term viability and adaptability to changing circumstances. These efforts aim to maintain the balance between providing comprehensive benefits and ensuring the financial sustainability of the system.

The social security and payroll deduction system in San Marino represents a crucial aspect of the country's commitment to the welfare of its citizens and workforce. By providing a comprehensive range of benefits funded through these contributions, San Marino ensures a high level of social protection that supports the health, income, and family life of its residents.

San Marino VAT Rates in 2024

VAT rates for San Marino are reviewed annually, you can use the VAT Calculator to calculate VAT due in San Marino or use the Reverse VAT Calculator to calculate the net cost of goods/services after deducting VAT.

Historic Tax Tables supported for San Marino

The following tax tables are supported by iCalculator™ SM as part of the suite of free tax tools we provide for San Marino.