Calculate the personal income tax for anastasiya

Reference no: EM132694705

Anastasiya works for the sports gym Gala, as a junior manager. In the year 2019 she received a gross monthly salary of 70,000 RR, together with the following benefits:

On 8 May a consumer loan from her employer of 1,000,000 RR. The annual interest rate on this loan is 2 % and interest is accrued monthly and paid on the fifth day following the end of the preceding month (i.e. interest for May will be paid on 5 June). Key rate = 4,25 %
Annual membership of the gym where she works with a value of 20,000 RR.
Annual voluntary medical insurance with a value of 23,000 RR.
She is married to Petr and they have two children, a daughter aged 13 years, a son aged 19 years, he is a student at the university.

Required:

Question 1) Calculate the standard deduction (if any)

Question 2) Calculate the social deduction (if any)

Question 3) Calculate the personal income tax (PIT) for Anastasiya withheld at source by the company for the year 2019, assuming that he asked for all possible deductions to be given at source

Question 4) Calculate additional payment or/ and refund

Question 5) Calculate the final settlement of Anastasiya's PIT liability upon submission of his PIT return for the year 2019

Question 6) Average tax rate.

Reference no: EM132694705

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