NUANCES OF APPLYING THE TAX SOCIAL BENEFIT TO THE AMOUNT OF SICK PAY

According to clause 169.1 of the Civil Code, the taxpayer has the right to reduce the amount of the total monthly taxable income received from one employer in the form of wages by the amount of the tax social benefit.

According to paragraphs 14.1.48 TCU wages – basic and additional wages, other incentive and compensatory payments, which are paid (provided) to the taxpayer in connection with employment relations in accordance with the law.

Taking into account the fact that the amount of payments in connection with the temporary loss of working capacity (sick pay) is considered as the salary of the taxpayer, if it does not exceed the maximum amount of the total monthly taxable income from one employer in the form of wages, which is provided for by the norms of paragraphs 169.4.1 of the Civil Code, an employee is entitled to a tax social benefit.