By regular pay which is paid out once monthly the income tax rate according to gross payout of the current month is used in calculating income tax. Usually, it is the most common method used in calculating income tax. For example see predefined document type for regular work.

 

Calculated Income Tax for Employee Who Received 250,000 SIT (1043.23 EUR) in February 2005:

gross salary (earnings type RDC)	250,000 SIT (1043.23 EUR)
bonus for transport and meals (earnings types PRE and PRV)	20,720 SIT (86.46 EUR)

Include Only Current Calculation

Income tax rates 2005:

to 108,333.33 (452.07 EUR)	16% income tax rate
from 108,333.34 (1787.40 EUR) to 211,666.67 (3592.19 EUR)	33% income tax rate
from 211,666.68 (1787.40 EUR) to 428,333.33 (3592.19 EUR)	38% income tax rate
from 428,333.34 (1787.40 EUR) to 860,833.33 (3592.19 EUR)	42% income tax rate
over 860,833.34 (3592.19 EUR)	50% income tax rate

CALCULATION of TAX BASIS:

gross salary	+ 250.000,00
- general relief	-   47.033,33
- contributions 22.1% (of 250,000 SIT (1043.23 EUR))	-   55.250,00
= income tax prepayment basis	= 147.716,67

CALCULATED INCOME TAX

income tax prepayment basis	(147.716,67)
16% of 108,333,33 SIT (1043.23 EUR)	+ 17.333,33
33% of additional 39,383.34 SIT (164,34 EUR)	+ 12.996,50
= total income tax amount	= 30.329,83
average income tax rate = (30,329.83 * 100) / 147,716.67 (72.33 * 100) / 451.27	(20,53 %)

Calculated Income Tax for Employee with Dependent Child Who Received 250,000 SIT (1043.23 EUR) in February 2005:

gross salary (earnings type RDC)	250,000 SIT (1043.23 EUR)
bonus for transport and meals (earnings types PRE and PRV)	20,720 SIT (86.46 EUR)
Has 1 child

Include Only Current Calculation

 

Income tax rates 2005:

to 108,333.33 (452.07 EUR)	16% income tax rate
from 108,333.34 (1787.40 EUR) to 211,666.67 (3592.19 EUR)	33% income tax rate
from 211,666.68 (1787.40 EUR) to 428,333.33 (3592.19 EUR)	38% income tax rate
from 428,333.34 (1787.40 EUR) to 860,833.33 (3592.19 EUR)	42% income tax rate
over 860,833.34 (3592.19 EUR)	50% income tax rate

CALCULATION of TAX BASIS:

gross salary	+ 250.000,00
- general relief	-   47.033,33
- personal relief (1 child)	-   39.575,33
- contributions 22.1% (of 250,000 SIT (1043.23 EUR))	-   55.250,00
= income tax prepayment basis	= 108.141,67

CALCULATED INCOME TAX

income tax prepayment basis	(108.141,67)
16% of 108,333,33 SIT (1043.23 EUR)	+ 17.333,33
= total income tax amount	= 17.333,33
average income tax rate = (17,333.33 * 100) / 108,141.67 (72.33 * 100) / 451.27	(16 %)

 

 

 

PANTHEON 5.5 Guide:

• Payroll Preparation

Related topics:

• Payroll