Differences

spay:hrmsprocguide:fair_share_contribution_with_tax_on_tax [2026/02/19 11:33] mclement		spay:hrmsprocguide:fair_share_contribution_with_tax_on_tax [2026/02/19 11:40] (current) mclement
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	*  → Check the **Pay Period**: In this example, the PAYE Calculation Checklist is for the month of **February 2026**		*  → Check the **Pay Period**: In this example, the PAYE Calculation Checklist is for the month of **February 2026**
	*  → Check the section **“Your PAYE Particulars”** : In this example, the employee **has submitted an EDF in August 2025** and **enjoys a tax benefit (when his tax liability is borne by his employer). This tax benefit is treated as a fringe benefit**		*  → Check the section **“Your PAYE Particulars”** : In this example, the employee **has submitted an EDF in August 2025** and **enjoys a tax benefit (when his tax liability is borne by his employer). This tax benefit is treated as a fringe benefit**
-	*  Check the **Emoluments for the month**, for example: Salary	+	*  → Check the **Emoluments for the month**, for example: Salary
-	*  Check the **Total emoluments paid in previous months** , which in this example, it refers to the emoluments from August 2025 to January 2026, since the PAYE Calculation Checklist is for the month of February 2026.	+	*  → Check the **Total emoluments paid in previous months** , which in this example, it refers to the emoluments from August 2025 to January 2026, since the PAYE Calculation Checklist is for the month of February 2026.
	__**  Verification of Tax benefit** __		__**  Verification of Tax benefit** __
-	*  __**Manually calculate the emoluments and chargeable income (exclusive of tax benefit) **__	+	*  → **Manually calculate the emoluments and chargeable income (exclusive of tax benefit) **
	Excel illustration		Excel illustration
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	{{:spay:hrmsprocguide:step1_calculate_chargeable_income_wo_tax_benefit_.png|}}		{{:spay:hrmsprocguide:step1_calculate_chargeable_income_wo_tax_benefit_.png|}}
-	* __**Verify the tax (PAYE and FSC) exclusive of tax benefit**__	+	*   → **Verify the tax (PAYE and FSC) exclusive of tax benefit**
	Excel illustration Tax PAYE calculation (exclusive of tax benefit)		Excel illustration Tax PAYE calculation (exclusive of tax benefit)
Line 42:		Line 42:
	{{:spay:hrmsprocguide:step_4_total_tax_payable_on_the_emoluments_exclusive_of_tax_benefits_.png|}}		{{:spay:hrmsprocguide:step_4_total_tax_payable_on_the_emoluments_exclusive_of_tax_benefits_.png|}}
-	*  → __**Use the Total Tax charged (exclusive of tax benefit) to verify the additional tax (PAYE and FSC) payable on the tax benefit**:__	+	*  → **Use the Total Tax charged (exclusive of tax benefit) to verify the additional tax (PAYE and FSC) payable on the tax benefit**:
-	* ** That additional tax payable, tax borne by the employer, becomes itself a tax benefit on which the additional tax payable is calculated again. The process is repeated until the additional tax payable is near zero**	+	* → ** That additional tax payable, tax borne by the employer, becomes itself a tax benefit on which the additional tax payable is calculated again. The process is repeated until the additional tax payable is near zero**
	Excel illustration Tax charged on PAYE benefit		Excel illustration Tax charged on PAYE benefit
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	{{:spay:hrmsprocguide:step7.png|}}		{{:spay:hrmsprocguide:step7.png|}}
-	*  → __**Add the Tax Benefit (PAYE and FSC) to the emoluments for the purpose of calculating the chargeable income (inclusive of Tax benefit)**__	+	*  → **Add the Tax Benefit (PAYE and FSC) to the emoluments for the purpose of calculating the chargeable income (inclusive of Tax benefit)**
	Excel illustration		Excel illustration
Line 97:		Line 97:
	{{:spay:hrmsprocguide:step_13.png|}}		{{:spay:hrmsprocguide:step_13.png|}}
-	*  → **Verify the Total tax withheld in previous months and the Tax to be withheld in the month**	+	*  → **Verify the Total tax withheld in previous months and **
		+	*  → **Verify the Tax to be withheld in the month**
	Excel illustration		Excel illustration