Liberia, officially known as the Republic of Liberia, is located on the West African coast. The majority of the population relies on Agriculture and the export of raw commodities. The economic freedom score of Liberia is 47.9, which makes it 159th economically freest in the 2022 index. The GDP of the country has improved since 2020. Liberia is a member of the Economic Community of West African States (ECOWAS).

Major economic hubs:

Monrovia

Skills in Demand:

IT Professional, Engineers

Resident Tax Information

The residents of Fiji are taxed on their worldwide income, but they may be eligible for foreign tax credits if the money was earned in certain countries.

The income taxes for residents of Fiji are below —

Social Security

The contribution that both employers and employees pay toward social security is a mandatory requirement in Fiji.                                          

The rate of contributions are as below —

Statutory Benefits

The employee benefits that an employer must provide their employees in Fiji include -

• A regular workweek in Fiji is forty-eight hours. Any additional hours worked by employees are considered overtime. The overtime pay differs based on different industries.

• Contributions toward social security

• Statutory leaves
  

Fringe Benefits

In Fiji, fringes benefits are given to employees. These can be either monetary or non-monetary depending on the business requirements and budgets set for providing them as well as what goals one might want their company reach through this practice of offering perks that help attract quality staff members who will work hard towards achieving those objectives.

• Housing benefits
• 13th-month pay
• Gym membership
• Meal vouchers
• Additional paid
 time off
• Flexible working hours
• Company vehicle
• Commuting expenses

Exempt Benefits

Charitable contributions made to approved organizations by individuals up to FJD 100,000 are exempt.

Long-term Incentives

Long-term incentives are commonly offered for over twelve months. Employers offer long

term incentives as a part of the strategic plan to attract talent.  

Commonly offered long-term incentives in Fiji include –

1. Employee stock options to key employees

2. Private insurance covers that include health insurance and life insurance

3. Dental covers

4. Performance-linked incentives

Termination Process

An employer may terminate an employee by giving one month’s written notice or any other notice period as agreed by them mutually in the employment agreement. However, in the event of summary dismissal, no notice is required.

Notice Period

The notice period in Fiji is generally up to one month.

Severance Pay

A sum equal to and not less than 5/6th of a day’s wages for each completed month of the period of employment.