Increase Basic discount Curacao
Published by M. Verhage in Salary
As a result of the measures taken in connection with COVID-19, the government of Suriname has decided to temporarily increase the Tax Discount.
The Tax Discount will be changed from SRD 125 per month to SRD 750 per month. And this temporary increase applies to the period from May 1 to October 31, 2020.
The Tax Discount is a discount that must be deducted directly from the Wage Tax. The consequence is therefore a lower deduction of wage tax, and therefore a higher net salary.
Employees who previously had the full SRD 125 discount deducted from their wage tax and who still paid wage Tax will benefit from this temporary measure. That benefit can go up to SRD 625 net per month.
This increased Tax Discount has already been included in Celery and will be applied automatically over the stated period. You do not need to update the software, Celery does that automatically.