Under these agreements, Australia equates social security periods/stays in these countries with periods of Australian residence in order to meet minimum qualification periods for Australian pensions. In other countries, periods of Australian working life are generally counted as social security periods to meet their minimum payment periods. Typically, each country pays a partial pension to a person who has lived in both countries. There are many nations around the world – Singapore and South Africa, for example – that do not participate in totalization agreements with other countries. The explanation for this point varies from country to country. The lack of agreement is usually due to one reason among others: in addition, a wage deduction is available for interest on home loans and a deduction for interest paid for educational loans acquired under ICETEX cannot exceed COP3,561.00. This will reduce the income and source tax bases. It is also important to take into account the fact that 25 per cent of work payments are exempt from income tax, up to a monthly maximum of COP8,546,000 (about 2,558 DOLLARS) for 2020. The United States has agreements with several nations, the so-called totalization conventions, in order to avoid double taxation of income in relation to social contributions. These agreements must be taken into account in determining whether a foreigner is subject to the U.S. Social Security Tax/Medicare or whether a U.S.
citizen or resident alien is subject to the social security taxes of a foreign country. Under certain conditions, a worker may be exempt from coverage in a contracting country, even if he or she has not been transferred directly from the United States. For example, if a U.S. company sends an employee to its New York office to work for 4 years in its Hong Kong office, and then re-opens the employee for an additional 4 years in its London office, the employee may be a member of Social Security under the U.S.U.K. agreement. The rule for the self-employed applies in cases such as this, provided the worker has been seconded from the United States and is under U.S. Social Security for the entire period prior to the transfer to the contracting country. In Colombia, tax periods vary from year to year. In 2019, large taxpayers will have to pay between February 8 and 21. Other taxpayers will have to pay from April 9 to May 10. These deadlines are adjusted each year with a government announcement, but they will generally fall during the same period. Payments are divided into first and second payments.
„Instead of harmonising national social security systems, EU social security rules provide for simple coordination of these systems… In other words, each Member State is free to decide who should be insured under its legislation; Benefits and the conditions under which they are granted; how these benefits are calculated and the number of contributions to be made.