AUC Compliance with Law No. 170
September 27, 2020
In reference to the below email, kindly be informed that after AUC’s August payroll was processed, the Ministry of Finance issued guidelines regarding the enforcement of the 1% salary deduction for solidarity contribution. The new guidelines define “net salary” as the total payments received by the employee after deducting only the applicable taxes and social insurance.
This means that AUC will withhold and remit the 1% solidarity contribution after deducting only the applicable taxes (if any) and social insurance. As such, please expect that the 1% solidarity contribution deducted from your salary will slightly increase to comply with the issued guidelines and to cover the difference of August’s withheld solidarity contribution.
AVP for Finance & CFO