Post by shahadat650 on May 18, 2024 5:28:05 GMT
In the field of payroll tax exemption, let's find out what this exemption is, how it works and what changes will be made in 2017. See what we will cover below: What is the wage tax exemption? What does the law stipulate about the wage tax exemption? Who is entitled to the wage tax exemption? The 2017 wage tax exemption: what changes have taken place and what are the latest updates? Good to read What is the wage tax exemption? The person writing with the calculator next to it The wage tax exemption appeared in 2017 with the aim of reducing the tax burden on some industries. It consists in replacing the social security contributions on the payroll with contributions from the company's gross income. To make it easier to understand, let's take an example. Assume that the company's wage costs are R$, it will pay 10% of this amount as social security contributions, in this case R$.
However, if the conditions for the exemption are met, then a percentage of % to % of their income, ie their gross income, will be paid, which generally represents a lower payment amount than in its previous form. Since the exemption appeared, it has changed a bit, and in order to understand it we need to delve into the legislation on this and follow. What the law stipulates about the wage tax exemption As we Guatemala Email List have seen, the wage tax exemption appeared in , was established by Law No. , and was mandatory for certain sectors described in this law. Over time, more precisely in , with the introduction of Law No. , this exemption has changed. Starting from this law, companies can choose to make contributions through gross income or social security contributions. Therefore, there are two payment methods, , and , which are better understood: – Social security contribution on gross income: In this option, the payment amount is based on the gross income of the company and the payment is made through .
Employer social security contributions: Also known as wage contributions, in this case, it is paid through the payment of the wage amount and through the social security guide. However, not all companies can make this option, and the next topic will look at which industries can make this option. Who is entitled to wage exemption There are sectors that are entitled to this exemption, including: Information technology services Hotel industry Telephone services Call centers Transportation and related services Construction Retail industry Industrial fields Each of the industries listed above has a contribution rate under the system ranging from to. It is worth noting that there may be different rates within the same industry, so be sure to check the rates related to your industry. Now that we have a better understanding of what the exemption is and who is entitled to it, let's understand why this issue came to light in 2017 and what the situation of companies is like.
However, if the conditions for the exemption are met, then a percentage of % to % of their income, ie their gross income, will be paid, which generally represents a lower payment amount than in its previous form. Since the exemption appeared, it has changed a bit, and in order to understand it we need to delve into the legislation on this and follow. What the law stipulates about the wage tax exemption As we Guatemala Email List have seen, the wage tax exemption appeared in , was established by Law No. , and was mandatory for certain sectors described in this law. Over time, more precisely in , with the introduction of Law No. , this exemption has changed. Starting from this law, companies can choose to make contributions through gross income or social security contributions. Therefore, there are two payment methods, , and , which are better understood: – Social security contribution on gross income: In this option, the payment amount is based on the gross income of the company and the payment is made through .
Employer social security contributions: Also known as wage contributions, in this case, it is paid through the payment of the wage amount and through the social security guide. However, not all companies can make this option, and the next topic will look at which industries can make this option. Who is entitled to wage exemption There are sectors that are entitled to this exemption, including: Information technology services Hotel industry Telephone services Call centers Transportation and related services Construction Retail industry Industrial fields Each of the industries listed above has a contribution rate under the system ranging from to. It is worth noting that there may be different rates within the same industry, so be sure to check the rates related to your industry. Now that we have a better understanding of what the exemption is and who is entitled to it, let's understand why this issue came to light in 2017 and what the situation of companies is like.