By Paul Smit-Oracle on Jun 04, 2015
These changes are effective from January 1st 2015. Further details can be found in the position statement, that is made available on My Oracle Support, Document ID 2016663.1.
Article 23 of the profit tax bill, 1997 text and its modifications, sets the deductions amounts from non-taxable earnings, special deduction and family charges, eligible to the determination of the fee for employees
It is the permanent policy of the National Executive to implement measures that are condusive to empower purchasing strength to workers and their families, with this, the consolidation of the demand of the national and domestic market.
It is considered desirable to increase the deduction amounts of Article 23 of the Income Tax Law, text of 1997, both for those taxpayers that are in dependency ratio as liabilities to the workers, in order to avoid the tax burden neutralizing the benefits derived from the economic policy, wages and pension assumed.
You can learn more about these changes in our Position Statement which can be found on My Oracle Support, Document ID 1541074.1.
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