News
Remuneration and terms of employment of EIF staff
Date: 07/08/2007BASIC SALARIES
The basic salaries of the members of the senior management cadre range from EUR 14,274.22 per month to EUR 17,629.33 per month. For members of staff in Functions C to K, see the 2005 salary scale.
TAXATION RULES APPLICABLE TO EIF STAFF
Protocol on the Privileges and Immunities of the European Communities
This Protocol is annexed to the Treaty of Rome. Under Articles 13 and 22 thereof, EIF staff are exempt from national taxes on salaries, wages and emoluments paid by the Fund. On the other hand, they are liable to a tax on those salaries, wages and emoluments established for the benefit of the European Communities: Community tax.
Community tax regulation
Council Regulation No. 260/68 of 29 February 1968 lays down the conditions and procedure for applying the tax for the benefit of the European Communities. The proceeds of this tax are entered as revenue in the Community budget.
Tax Scale
The original tax scale was laid down by Regulation 260/68: coefficient of 100% . This coefficient is readjusted on a regular basis by the Council of Ministers of the E.C. The current coefficient adapting the tax brackets is 462.8955%.
Some key-concepts concerning the community tax
Progressive tax scale: as with the majority of national taxation systems, Community tax is based on the principle of a progressive tax scale: the greater the taxable income the higher the rate of tax.
Brackets: Progressive taxation is achieved by dividing the scale into brackets. The taxable amount in each bracket is taxed at the rate applying to that bracket.
Top bracket: the lowest bracket is zero-rated for tax purposes, the second is taxed at 8%, and so on up to the top bracket, which is taxed at the maximum rate of 45%.
INSURANCE
The EIF Health Insurance Contract has been delegated to J.Van Breda & C° International gcv, an Antwerp-based broker which is responsible for collecting premiums, issuing receipts and paying out the benefits provided for in the contract.
BONUS SYSTEM
STAFF REGULATIONS
EIF staff adhere to the same regulations as EIB staff.