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TAXATION OBLIGATION FOR ENTREPRENEURS OR COMPANIES - Coggle Diagram
TAXATION OBLIGATION FOR ENTREPRENEURS OR COMPANIES
PAYROLL DEFINITION
PAYROLL STRUCTURE
BASIC ELEMENTS
NET SALARY
Net salary is the final amount of money that you will receive after all taxes and deductions have been subtracted.
BENEFITS
2.
Overtime payments, Payment of utilities.
1.
Social and medical insurances.
GROSS SALARY
Gross salary is all the money an employee has made working for the company in a year. It is the salary which is without any deductions.
DEDUCTIONS
Deductions are wages withheld from an employee’s paycheck for the payment of taxes, benefits, etc.
It can be subtracted from the gross salary.
2.
Income tax.
1.
Social security and medicare tax
3.
Salaries and wages.
1.
Employee information.
2.
Financial information.
4.
Bonuses, deductions, payroll taxes, etc.
Juan Araujo