Staff Announcement

The Finance Act, 2020 which took effect on 1 January 2021, has amended personal income tax computation: It redefines gross income, re-introduces relief on life insurance premium or a contract for a deferred annuity on the taxpayer's life or the life of the spouse, and exempts a person that earns the National Minimum Wage or less from income tax.

Whereas the Act implies a higher chargeable income and higher taxes on the same income level,  we will do our best to achieve the most optimum outcome as we review the payroll for compliance.

We will communicate your revised net pay once we complete the review process.

2021-01-28 08:06:05