Sun, 22 November 2009
| Index | Last | Var.(%) |
|---|---|---|
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| FTSE 100 | 4564.5 | 0.79 |
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| ISEQ 20 | 442.48 | 0.27 |
The start of a new year doesn't just bring new year's resolutions, but also the need to settle your income tax return. We take you through the basic steps.
How the system works
If you haven?t received an invitation, that doesn?t automatically mean you do not have to submit your return. If you work in an employment situation, payroll tax is withheld from your salary. The income tax calculation will be as follows.
Salary 100.000
Income tax due on salary 42.000
Less: payroll tax on salary 42.000
Balance 0
So, if you work in an employment situation the full year, you will most likely not have to pay any additional income tax. If you are in such a situation, you will probably not even receive an invitation from the tax authorities.
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