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How to calculate Statutory Deductions


APPENDIX I          
How to Calculate Statutory Deductions (Example)    
Salary and other Emoluments Year 2018      
Salary         2,000,000    (Per annum)
Travelling             90,000     
Gross Emolument       2,090,000    
NIS 2.5% To a maximum of 1,500,000       37,500    
Pension   10%     200,000    
Taxable Income      1,852,500    
Less Tax at nil rate (Threshold)     1,500,096    
Balance            352,404    
Income Tax at 25%            88,101    
NHT 2%of Gross Emoluments 41,800      
Ed. Tax 2.25% of Taxable Income 41,681      
Gross Pay Salary and Travelling Allowance    2,090,000    
Less Deduct NIS           37,500    
  Deduct Income Tax           88,101    
  Deduct Pension       200,000    
  NHT             41,800    
  Ed. Tax             41,681    
  Net Pay for Year        1,680,918    

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