Welcome. Today, we're comparing taxation, retirement, and social rights for long-term immigrants in Angola and the Philippines.
Understanding these aspects is crucial for anyone planning a long-term move. Let's start with taxation. Angola uses the Imposto sobre o Rendimento do Trabalho, or IRT.
The Philippines uses a system managed by the Bureau of Internal Revenue (BIR). Angola's IRT is complex and developing; long-term immigrants should hire a local tax advisor.
The Philippines' system is more established and easier to navigate.
Regarding tax rates, Angola's corporate tax is 24.5%, personal income tax ranges from 15% to 28%, and VAT is 14%.
The Philippines has a higher corporate tax rate of 30%, but a lower VAT of 12%, and personal income tax ranges from 20% to 32%.
Now, let's discuss retirement and social rights. In Angola, long-term immigrants may contribute to the INSS, but pensions may be small.
In the Philippines, mandatory contributions to SSS and GSIS can lead to a more substantial pension.
In summary, the Philippines offers a more established system for long-term immigrants. Angola presents unique challenges.