How to administer withholdings discount?
For certain withholdings in the payslip, we have discounts through goverment support.
The payslip would be the same, but the amount of tax to be paid would be less. It’s part of the monthly employee tax payment.
So lets say I have 2 employees, each earning 5000, and lets assume I’m supposed to withhold 2000 each.
The payslips would be:
A: 5000 - 2000 = 3000 net
B: 5000 - 2000 = 3000 net
This means we need to pay 4000 in taxes. But we need to administer 1000 discount on this, so the amount to be paid will be 3000