To determine the taxable employment income and employment income tax liability of each employee, we need to know the tax rates and thresholds currently in force in Ethiopia. Without this information, it is not possible to accurately calculate the tax liability.
Similarly, without the specific details of each employee’s income and deductions, it is not possible to prepare the Employment Income Tax Declaration or determine the amounts to be reported on line 20 and line 30 of ERCA form 1103.
To show all the entries required to account for employment income taxation, we would need to know the specific tax laws and regulations in Ethiopia, including any applicable deductions or exemptions.
Without this information, it is not possible to provide a complete and accurate answer to the questions. It is recommended to consult the relevant tax laws and regulations or seek professional advice to accurately determine the taxable employment income and employment income tax liability for each employee.
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