URGENT NOTICE: “...Effective July 1, 2019, the first tax band will be $50,000 at a rate of 12.5% ... the second tax band is on taxable income over $50,000 which is charged a rate of 33.5%...” “...As of January 1, 2020, the rate of 33.5% on taxable income over $50,000 will drop to 28.5%...” Note: a) Employers and employees are reminded that effective July 1, 2019 the 40% rate is discontinued. b) Taxpayers and employers are advised that with effect from Income year 2019 the child allowance will no longer be granted. Therefore, any person who filed a declaration with their employer claiming the child allowance must file a revised declaration excluding the child allowance so that the correct deductions can be made from their emoluments. #TheChaseFiles #HoldingGovernmentAccountable #Tamis #taxbrackets #childallowance #taxableincome #taxbands https://www.instagram.com/p/Bzqn7DkAO2H/?igshid=1909tylvmysj1
