Post by MS INYOFU (@theconscience)

HINT – Convert Annual Tax to Monthly Correctly

Always divide annual PAYE by 12 to get monthly tax.

Explanation:
PAYE is calculated annually using tax bands, then spread monthly.

Example:
Annual PAYE N60,000
Monthly PAYE = 60,000 / 12 = N5,000

Scenario: Some accountants apply tax rates directly on monthly salary, leading to errors.

Question: Do you calculate PAYE annually before converting to monthly?

HINT – Convert Annual Tax to Monthly Correctly Always divide annual PAYE by 12 to get monthly tax....

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