Annual recalculation of personal income: spend no errors

At the beginning of each year, accountants have to recalculate income tax for the previous year. As established by the Act of 22.05.2003, № 889-IV "On income tax of individuals, employer of the taxpayer at the place of social benefits shall recalculate the amount of income accrued to this payer in the form of wages, as well as the amount of tax provided social benefits (hereinafter - NSL). This recalculation is done in the following cases: - the results of each tax reporting year - during the calculation for the last month of NSL by changing the place of NSL for independent decision of the employee; - in case of an employee additional income - while a final settlement with the departing employee. The Act does not set specific deadlines and procedures for the annual recalculation of income tax, but over withhold and transfer the personal income tax officials are subject to administrative liability in the form of a warning or adminshtrafa in size from 2 to 3 NMDG (from 34 to 51 UAH.). Fuller consultation with examples of specific cases and review of the allocation step, see the special issue of "Balance-AGRO" № 3, which will be released in print 17.1.1911, the