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CTC can include many elements in addition to salary/wages, such as healthcare, pension, and allowances for housing, travel and entertainment. Tax is also withheld from the cash amount the employee receives directly. The term CTC is used by companies to more accurately reflect the incremental spend per employee (the concept of direct costs) from ...
Per diem (Latin for "per day" or "for each day") or daily allowance is a specific amount of money that an organization gives an individual, typically an employee, per day to cover living expenses when travelling on the employer's business.
Of the assessed taxpayers only 882 000 (18%) owed SARS some tax, 11.3% had a zero assessment and 70.7% received refunds. Furthermore, of the 4.9 million assessed tax payers 1.9 million (40.2%) were from the Gauteng province and 1.3 million (27.3%) were in the 35 – 44 age bracket. [1]
Travel and subsistence expenses describe the cost of spending on business travel, meals, hotels, sundry items such as laundry (though usually only on long trips) and similar ad hoc expenditures. [1] These reimbursements often have tax and related implications, and vary depending on the country of the business.
A common such deduction is a fixed allowance for the taxpayer and certain family members or other persons supported by the taxpayer. The U.S. allows such a deduction for "personal exemptions" for the taxpayer and certain members of the taxpayer's household. [37] The UK grants a "personal allowance."
The Union of South Africa came into existence on 31 May 1910, uniting the Cape Colony, Transvaal Colony, Colony of Natal, and Orange River Colony.Three months later, on 9 August, the Governor-General, Herbert Gladstone, retroactively appointed Joseph Clerc Sheridan, Esq., as the acting Commissioner for Inland Revenue with effect from 1 July 1910. [15]
On 10 May 2020, Saudi Arabia announced suspension of the 1000 riyals/month cost-of-living allowance from 1 June, and an increase in the value-added tax from 5% to 15% from 1 July. [ 7 ] [ 8 ] The Kingdom will also cut spending by 100 billion riyals ( US$26,600,000,000 ). [ 9 ]
December 3, 1992 157 12824: Establishing the Transportation Distinguished Service Medal December 7, 1992 158 12825: Half-Day Closing of Government Departments and Agencies on Thursday, December 24, 1992 December 18, 1992 159 12826: Adjustments of Certain Rates of Pay and Allowances December 30, 1992 160 12827: Amendment to Executive Order No. 12792