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PAYE Threshold for 2018
How to calculate Statutory Deductions
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How to calculate Statutory Deductions

 

             
             
             
APPENDIX I          
How to Calculate Statutory Deductions (Example)    
Salary and other Emoluments Year 2018      
           Amount    
             
              $    
Salary         2,000,000    (Per annum)
Travelling             90,000     
Gross Emolument       2,090,000    
             
Deduct            
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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