Our company is negotiating to hire the new sales manager and he requires the company to pay his personal income tax on behalf of him. Please advise if we decide to hire him, how do we calculate his personal income tax? Should we add his personal income tax which will be supported by the company to be his income?
Panwa: Personal income tax of an employee which is supported by the company is considered as Income derived from employment, thus, the company must include this benefit to his assessable income for personal income tax calculation purposes.
The company must calculate his personal income tax by using the tax allowance method in accordance with the Revenue Code and we could assist for outsourcing of payroll service apart from accounting and tax service, please click here.
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