Annual Income Tax Table

This feature is available for Philippines only.

IPS offers users from Philippines a tool to perform the employee annual income tax calculation, and for that matter the system uses a table named "Annual Income Tax". This table includes several taxable income levels, and the user must set the following values:

Upper Level - Enter annual employee income which will be considered for this level.
Tax Amount - Enter figure without commas or $ symbol.
Tax Percentage - Enter taxable percentage of employee income. User does not need to add the % symbol.

Completing this table for the first time:

Go to Maintenance, select Tax Tables and click on Annual Income Tax Table.
Click on Add. System will present user with a new table. If user session is limited to one company code, the system will automatically set the company code and current pay period values and they will both appear grayed out.
Enter values in the corresponding fields: Upper Lever, Tax Amount and Tax Percentage.
Click on Change.
Once the table has been saved in the system database, it can be changed or modified only during the current pay period. Nevertheless, the system allows user to search and view tables from previous pay periods.
The table contains ten rows. However, user may add or delete rows as necessary once the form is submitted (see "Add Five Records" and "Delete Five Records" buttons below table).

IPS also provides the option to Delete all pay period records. When user clicks on this option, the system will display the message:

"If you are COMPLETELY SURE you want to Delete these records, Click on the Delete Button below:"

User must click on Delete button to complete the process.