Final Levy Calculation in WKR
The final tax levy in the Work-Related Costs (WKR) report is calculated based on the latest month’s budget after costs (B). If B is less than zero, which means, the work-related costs exceeded the WKR budget, then an 80% tax levy will be applied to this excess amount.
This percentage is based on the calculation terms you set, which should conform to the current Netherlands legislation on the work-related costs scheme.
If B is greater than zero, which means the work-related costs did not exceed the WKR budget, then the final tax levy is zero. That means that no tax levy is applied.
Sample Final Levy Calculation
For example, the latest month’s amount in Budget Left After Costs is -2,940 EUR. This means, you have spent 2,940 EUR on work-related costs from previous months up to the latest month, in excess of the WKR budget. To get the taxed amount of the excess, the following calculation is used:
Final Tax Levy = B(0.80) = 2,940(0.80) = 2,352 EUR