Post by account_disabled on Nov 22, 2023 7:21:15 GMT
Was covered by the youth tax relief. This means that for he will be able to deduct employee tax-deductible costs in the maximum amount of - . When applying the discount for young people there is one more important rule that cannot be forgotten. For the purpose of introduction we would like to remind you that there is a category of revenue for which of the tax-deductible costs apply for which from January there is an annual limit of . At the same time using the discount for young people and of costs obliges us to follow another rule which we write about below.
Important! When using the relief for young people relief for return and for families remember that philippines photo editor the sum: Total costs of obtaining revenues calculated at the rate of i Income from full-time work It cannot exceed in a tax year Example In Mr. Wiktor received revenue in the amount of from a license fee to which of the costs of obtaining revenue apply x = . Additionally during the year he was employed under an employment contract and his income amounted to fully covered by the youth tax relief. In this case the sum of of costs and income from full-time work is so it exceeds the limit of by.
According to what we read in the explanations Mr. Wiktor has the right to use both preferences and the order in which he does so is arbitrary. The Ministry of Finance assumed that first of all we should benefit from the relief for young people in our case it is . In such a case Mr. Wiktor will only be able to deduct as part of of the tax-deductible costs. Deduction of social security contributions If the youth tax relief is applied only social security contributions from taxable income in PIT are deducted from income.
Important! When using the relief for young people relief for return and for families remember that philippines photo editor the sum: Total costs of obtaining revenues calculated at the rate of i Income from full-time work It cannot exceed in a tax year Example In Mr. Wiktor received revenue in the amount of from a license fee to which of the costs of obtaining revenue apply x = . Additionally during the year he was employed under an employment contract and his income amounted to fully covered by the youth tax relief. In this case the sum of of costs and income from full-time work is so it exceeds the limit of by.
According to what we read in the explanations Mr. Wiktor has the right to use both preferences and the order in which he does so is arbitrary. The Ministry of Finance assumed that first of all we should benefit from the relief for young people in our case it is . In such a case Mr. Wiktor will only be able to deduct as part of of the tax-deductible costs. Deduction of social security contributions If the youth tax relief is applied only social security contributions from taxable income in PIT are deducted from income.