What is cost to company tax and how does it work

Posted 18 November 2015 under Tax Q&A
Frieda says:
17 November 2015 at 11:03

What is Cost to Company and how does it work?

This entry was posted in Tax Q&A and tagged , . Bookmark the permalink.

TaxTim TaxTim says:
18 November 2015 at 9:46

Cost To Company is a remuneration structure - the way the salary structures are setup. Cost to Company basically starts with the annual package to be given to an employee and then calculates the basic salary after including various allowances, bonus, pension and medical deduction.

The tax is calculated as usual on the basic salary and all taxable allowances.

Total Cost to Company is a remuneration structure to be introduced in to the payroll system.