So imagine you are a civil servant you get paid by direct deposit to the bank. You gross salary is taxed 1. You pay NHT, PAYE, NIS and Education taxes. All of which socks 20 percent or more of your gross salary. The rest goes to the bank. 2. To withdraw it or use your ATM card at the supermarket you pay a transaction tax. 3. You pay tax on light, phone bill/phone card and gas if you drive a vehicle. 4. You pay GCT on basic food items. 5. If you set aside a little as sayings in an investment when you cash the investment you might be liable to withholding tax on the income/capital appreciation as well as a tax for merely cashing in your investments.
Posted on: Fri, 18 Apr 2014 23:08:46 +0000
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