A new decision number 686-1 dated 23-11-2022 was issued from
ministry of finance referring to Budget 2022 that requested the
followings:
- Starting
15/11/2022 employer who paid salaries in USD must calculate salaries and
related tax on new rate that will be mentioned in another decision
(decision number 687-1)
- If employer paid
salaries for previous three quarters in USD so they must re-calculate the
salaries on the new rate that will be mentioned in the other
decision(decision number 687-1) and add the difference in quarter four
2022.
- For tax
calculation, employer must add the difference mentioned in point”2” to
salaries related to quarter four in the new rate and recalculate the full
salaries after using the new family exemption and new tax brackets as
mentioned in budget 2022.
- If tax result
was negative, employer can request from MOF tax refund along with
representing the supported documents needed.