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PY_EG_VC_T7EGT02 - Define Tax Slabs
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In this Customizing activity, you create the slab codes. You then define the tax slabs within each slab code.
Assume the following scenario:
- You create a slab code called GRP01.
- Within GRP01, you define the following tax slabs:
Slab | To Amount | Tax % | Applicable Below |
---|---|---|---|
1 | 15,000 | 0% | 600,000 |
2 | 30,000 | 2.5% | 700,000 |
3 | 45,000 | 10% | 800,000 |
4 | 60,000 | 15% | 900,000 |
5 | 200,000 | 20% | 1,000,000 |
6 | 400,000 | 22.5% | more than 1,000,000 |
7 | 400,001+ | 25% | more than 1,000,000 |
With that, three employees, with respective annual salaries of EGP 650,000, 815,000 and 1,200,000, have the following applicable tax rates:
EGP 650,000 Annual Salary
Earnings | Tax % |
---|---|
0-30,000 | 2.5% |
30,001-45,000 | 10% |
45,001-60,000 | 15% |
60,001-200,000 | 20% |
200,001-400,000 | 22.5% |
400,001-650,000 | 25% |
EGP 815,000 Annual Salary
Earnings | Tax % |
---|---|
0-60,000 | 15% |
60,001-200,000 | 20% |
200,001-400,000 | 22.5% |
400,001-815,000 | 25% |
EGP 1,200,000 Annual Salary
Earnings | Tax % |
---|---|
0-400,000 | 22.5% |
400,001-1,200,000 | 25% |