Namibia | Vocational Education and Training (VET) Levy Income Base Flexibility

The VET component allows for user override on the income base on the Note component.

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Edit the component on the Company Payroll Components screen (Config > Payroll > Payroll Config > Payroll Components). On the Income Note component and the Company Contribution click on the Extra Options and select the "click here to add new override formula" link:

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Company Contributions component: VET Levy

Edit the income base and either add components or tax codes that must be included in the income. Ensure that the percentage is 1%

Note component: VET Levy Income

Edit the income base and either add components or tax codes that must be included in the income:

The system will continue to calculate the component based on the legislative setup, but in cases where the base is not agreed on, the override income base may be utilised on the component.

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