Wednesday, 14 September 2016

Originally posted on Facebook as "Financial Planning Tip November 17, 2015 - 005 Information Technology Literacy"

"Every so often, something which you learn in one area can assist you in another. Here is an example of advanced knowledge of Excel benefiting someone!

On the BIR site, there is an EXCEL spreadsheet which can be used as a learning tool, in that you can enter the country to which the payment is made and the type of payment and then the rate of withholding tax appears!

So that if I have to or my funds in Trinidad and Tobago are used to pay alimony to someone in Anguilla, up jumps the rate of withholding tax of 15%. Here is the link to the website:

If I had conceptualized such a spreadsheet, I would consider copyrighting same,  accepting royalties and I may choose to pay withholding tax should I transfer my money abroad or use some of funds received as an expense which was allowable for tax purposes. LOL!"

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