Hi
please I need urgent excel help to find the gross salary, given the Net salary in Ghana
Net salary( example)....... 2,723.50
S.S.F............................5.5%
P.F...............................3%
NB: (S.S.F. and P.F. are deducted from the gross salary before arriving at chargeable income, on which Income tax is applied)
Income Tax rates as follows:
MONTHLY INCOME TAX RATES APPLICABLE TO RESIDENT INDIVIDUALS
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please I need urgent excel help to find the gross salary, given the Net salary in Ghana
Net salary( example)....... 2,723.50
S.S.F............................5.5%
P.F...............................3%
NB: (S.S.F. and P.F. are deducted from the gross salary before arriving at chargeable income, on which Income tax is applied)
Income Tax rates as follows:
MONTHLY INCOME TAX RATES APPLICABLE TO RESIDENT INDIVIDUALS
CHARGEABLE INCOME | RATE | TAX | CUMULATIVE CHARGEABLE INCOME | CUMULATIVE TAX |
GH₵ | % | GH₵ | GH₵ | GH₵ |
First 288 | Nil | – | 288 | – |
Next 100 | 5 | 5 | 388 | 5 |
Next 140 | 10 | 14 | 528 | 19 |
Next 3,000 | 17.5 | 525 | 3,528 | 544 |
Next 16,472 | 25 | 4,118 | 20,000 | 4,662 |
Exceeding 20,000 | 30 |
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