The purpose of this session is aimed to assist payroll officers to carry out the following tasks:
Session 1
- Identify the jurisdiction to tax
- Determine the type of income which stands to be charged as employment income
- Identify and classify fringe benefits.
- Be able to distinguish between taxable fringe benefits and exempt fringe benefits
- Determine the taxable value of benefits.
- Compute tax on fringe benefits
- Understand the rules regarding part-time work
- Understand the provisions relating to employment exercised abroad.
- Specific regimes for employment income
Session 2
- Understand how the Final Settlement System (FSS) works
- Identify the rate of tax applicable to an employee (single / married / parent)
- Compile payroll compliance documentation
- Contents of a payslip
- Leave entitlement
- Identify the different Social Security categories and calculate national insurance payments for employees and self-employed individuals, including maternity fund contributions.
- Tax and Social Security Contributions implications on crew members working on a vessel.
- Social Security Forms (A1, S1, U1)
- Compute fringe benefits and tax calculations (including examples)
William Cassar has been with Fenlex since 2016, and currently he holds the positions of Operations Manager and Senior Manager of the Tax Compliance Department. In his current role, he oversees matters related to income tax, VAT, and payroll. Prior to joining Fenlex, William gained valuable experience in the tax service line of one of the Big Four Firms for three years. During this time, he worked with a diverse range of clients across various sectors, including both small and large-scale enterprises. William completed his Masters in Accountancy Degree from the University of Malta in 2014, and later earned the Professional Certificate in Taxation from the Malta Institute of Taxation in 2016. Presently, William is pursuing the Advanced Diploma in International Taxation (ADIT) from the Chartered Institute of Taxation. Apart from his professional pursuits, William is an avid sports enthusiast and particularly enjoys football and athletics.
