Taxable Income Scale
Definition
The taxable income scale consists of a table with the statutory tax rates and deduction values to be used in the Income Tax (ISLR) calculation.
Structure
In order to meet the Venezuelan payroll accounting requirements, a Taxable Income table has been created (T7VETX) that contains the constant tax rates and deduction values for each of the range of values defined.
An example of the Taxable Income table is shown below:
Taxable Income (TU*) |
Rate |
Deduction |
Up to 1.000 TU |
0,06 |
- |
Up to 1.500 TU |
0,09 |
30 TU |
Up to 2.000 TU |
0,12 |
75 TU |
Up to 2.500 TU |
0,16 |
155 TU |
Up to 3.000 TU |
0,20 |
255 TU |
Up to 4.000 TU |
0,24 |
375 TU |
Up to 5.000 TU |
0,29 |
575 TU |
More than 6.000 TU |
0,34 |
875 TU |
TU: Tax Units.
In the IMG activity Payroll Calculation à Income Tax (ISLR) à Check values of taxable wealth ranges, you can check whether the T7VETX table contents correspond to the applicable legislation values. Otherwise, you must ask SAP to maintain it.