Wage code 480: Acquisition costs
In short, the acquisition costs are a legal discount on your taxable income because you work.
What's acquisition costs about
The acquisition costs are a discount on the wage on which you have to pay tax. You get this discount because you work. For example, your clothes and shoes wear out faster and you also incur costs to go to work.
Because the tax authoritie believes that these costs should be partially reimbursed, the Tax Authorities have set fixed amounts for this. Celery then applies these amounts automatically
It is only a fictitious amount that is deducted so that you have to pay less tax. An employer does not pay this amount to the employee and the employee does not receive this amount from the tax authorities.
Application of the acquisition costs
Procurement costs are in principle applied to all employees.
The 'Retired' employee category is excluded because this is not an employee.
The 'Expats' employee category is excluded because this is legally arranged, this category has other advantages.
On Bonaire, St. Eustatius and Saba, an expat is entitled to the deduction of acquisition costs.
Amount of the acquisition costs
|Aruba||3% with a maximum of AWG 1,500 per year|
|Bonaire||Maximum of USD 280 per year|
|Curaçao||Maximum of ANG 500 per year|
|Saba||Maximum of USD 280 per year|
|St. Eustatius||Maximum of USD 280 per year|
|St. Maarten||Maximum of ANG 500 per year|
|Surinam||3% with a maximum of SRD 1,200 per year|
In Aruba and Suriname payrolls it can happen that in extra runs code 480 is not applied, while it should actually be.
This is set in Celery because the maximum periodic amount is often already applied in the Regular run.
In December or upon termination of employment, code 480 is always correctly recalculated and settled on an annual basis.