Tutorial 3MA

Tutorial 3MA - Accounting and Financial Control Department...

Info iconThis preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon
Accounting and Financial Control Department Taxation S 2012 Tutorial 2 - Chapter 2: Salaries & Like 1 Total annual Revenue: A. Basic Salary : [ Basic salary +Special Increment more than 5 years+ periodic (annual) raise if any]. B. Variable Wage: Representation allowance. Work nature allowance. Special increment( not added to the basic salary) Social increment. Work necessities allowances (travel, transport, car, food, clothes and housing allowances) Production incentives. Overtime wage. Rewards/Bonuses Grants C. Share of workers from profits D. Remunerations Received by members of BOD and Chairmen Total Annual Revenue (A+B+C+D) Deducted from it: 1. Sums exempted by special law: - Social increment. - Special increment. (Whether added to the basic salary or not). - Representation allowance in case the taxpayer works for a public sector . 2. Sums to meet actual expenses and related to the work: (work necessities allowances) - Transport &Travel Allowance. - Clothing allowance. - Car allowance. - Food Allowance. - Housing Allowance. 3. Personal Exemption: 4. Share of the employee in the social insurance: (calculated) (14% of the basic salary+11% of the Variable salary) Total Exemptions Net Revenue (=Total Annual Revenue – Total Exemptions{1+2+3+4}) 5.Life insurance Premiums and Special insurance fund subscription (calculated): 6. Share of workers from profits: Taxable net revenue(Tax Base) ### ### ### ### ### ### ### ### ### ### ### ### ### ### ### ### ### ### ### 4000 ### ### ### ### + #### ### ### ### _ (###) ###
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Image of page 2
This is the end of the preview. Sign up to access the rest of the document.

Page1 / 7

Tutorial 3MA - Accounting and Financial Control Department...

This preview shows document pages 1 - 2. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online