Income tax is an amount payable to the government based on a certain percentage of the salary earned by the individual. In Singapore, companies have to provide the earnings details of each employee in the company so that they could file their income tax returns. The form is called IR8A or IR8C, depending on the type of employment the employee has with the company. This salary in this form has to be endorsed by the company and usually carries the Managing Director's
signature. The payroll manager usually has to prepare the summary as a supporting document so that the managing director is assured that the forms are prepared with due diligence and he can safely endorse on the forms. The payroll manager is likely to save each month salary details in separate worksheets to facilitate tracking. But that created a new headache for him because he will have problem consolidating the monthly salaries for the IR8A form. And without a good tool to help him, this is what a payroll manager will do.
Do you like the function? You can get this free download by clicking on this free download link for income tax submission.
Share this page:
Would you prefer to share this page with others by linking to it?
Microsoft® and Microsoft Excel® are registered trademarks of Microsoft Corporation.
advanced-excel.com is in no way associated with Microsoft