PART VPAYMENT AND RECOVERY OF TAX, ETC.

Payment

Payment of tax monthly by employer40

1

Subject to regulations 41 and 48(11), the employer shall pay the amount specified in paragraph (2) to the collector within 14 days of the end of every income tax month.

2

The amount specified in this paragraph shall be determined by the formula–

(A+B)-(C+D)math

where—

  • A is all amounts of tax which the employer was liable under these Regulations to deduct from emoluments paid by him in that income tax month;

  • B is all amounts of tax by which deductions in that income tax month were reduced in accordance with regulation 36(3)(b), being amounts in respect of which a reduction was claimed in an earlier income tax month in accordance with C below;

  • C is any amounts calculated as due to be repaid in that income tax month, but whose repayment was precluded during that income tax month by regulation 36(3); and

  • D is any amounts which he was liable to repay in that income tax month (excepting any amounts for which a reduction was claimed in any previous income tax month, or which are being recovered from the Board under regulation 42(6)).