Payroll

Updated the Payroll > Tax Definitions screen in People to accommodate the selection of PAYE percentages from tax year 2023/2024. This update includes the following changes:

• Renamed the PAYE and Solidarity Levy Exempt Period section to PAYE Exempt Period.
• Removed the Solidarity Levy Reduced Rate section.

• Added the PAYE Preferred Rate section so that payroll administrators can select the PAYE deduction percentage .

• In the Case column, select one of the following options:
  • Director Fees or Commission only
  • Employees earning less than Rs.390,000 a year / Rs.30,000 a month.
  • Employees earning more than Rs.390,000 a year / Rs.30,000 a month with no EDF submitted.
• In the Rate % column, select a preferred rate of either 15% or 20% to calculate PAYE.